If you frequently withdraw cash or check balance from ATM, then this news is important for you. The Reserve Bank of India (RBI) has approved the proposal of National Payments Corporation of India (NPCI), after which the charges on ATM transactions are going to increase from May 1, 2025.
What will change from 1 May 2025
- Cash withdrawal fee: Increased from ₹17 to ₹19 per transaction
- Balance check fee: Increased from ₹6 to ₹7 per transaction
- Free Limit: These new charges will be applicable after 5 free transactions in metro cities and 3 free transactions in non-metro areas.
Why did the charges increase?
ATM network operators and white label ATM companies had demanded an increase in interchange fees, as their maintenance and operation costs have increased. NPCI submitted this demand to RBI, which was approved.
Impact on customers and banks
- If customers transact from an ATM of any other bank instead of their home bank, they will have to pay higher charges.
- Smaller banks, which rely more on other banks’ ATM networks, may see costs increase.
- Banks may also consider increasing account maintenance charges.
- Customers who use ATM frequently should use digital payments or home bank ATM more to avoid extra expenses.
SBI changes ATM transaction rules (effective from 1 February 2025)
State Bank of India (SBI) has also implemented new ATM rules for its customers:
Free limit per month
- From SBI ATM: 5 free transactions
- From other bank ATMs: 10 free transactions (without location or balance limits)
- Those with average monthly balance (AMB) of more than ₹1 lakh will get unlimited free transactions.
Charges after free limit
- At SBI ATM: ₹15 + GST per transaction
- At other bank ATMs: ₹21 + GST
- Balance check/mini statement (at other bank ATM): ₹10 + GST
- Balance check at SBI ATM: Absolutely free
Other services
- Non-cash financial transactions (like donations etc.): Free at SBI ATMs
- This facility is not available at other bank ATMs
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