RBI has allowed banks to change the rules attached to ATMs after 9 years. The RBI has allowed all banks to increase their ATM interchange charges. The RBI has said that customers will be able to avail 5 times free withdrawals from ATMs. There will then be a charge of Rs 6 for the money transaction. In addition, the charge for money transactions will now be Rs 17 instead of Rs 15.
If you transact more than the free ATM transaction limit set at the beginning of a month, the charge you paid earlier has increased. Earlier this fee was fixed at Rs 20, which has now been increased to Rs 21. The new RBI orders will come into effect from January 1, 2022.
But customers will continue to receive a total of 5 free transactions per month from its bank, both cash and non-cash transactions. It will continue to receive 3 transactions from another bank’s ATM in metro cities and five transactions from another bank’s ATM in non-metro cities as it is currently free.
With the growing demand for ATMs across the country, banks have been allowed to meet the rising cost of ATMs. & Nbsp;
The RBI has since August 1, 2021 started charging for interchange ATM transactions. It is now allowed to charge Rs 17 instead of Rs 15. It is also being said that from January 1, 2022, banks have been allowed to charge customers Rs 22 as customer charges. Under this rule, banks are allowed to take a further Rs. 20. & nbsp; Interchange ATM Charge means that if you have an SBI Bank card and you withdraw money from another bank’s ATM, the bank which you have withdrawn money from from another bank’s ATM pays a certain amount to your bank. Called interchange ATM charge & nbsp; Is called.