New Delhi. If you are also an account holder of Axis Bank, then there is an important news for you. From July 1, your problems are going to increase. Actually, Axis Bank is going to increase its ATM charges from the first of next month. Now instead of Rs 21, customers will have to pay Rs 23.
The bank has announced to increase the ATM transaction charge for savings, trust, NRI and some priority and burgundy account holders. Now if the customer exceeds the set limit of free transactions, then a charge of Rs 23 will have to be paid on every additional ATM transaction. Till now this charge was Rs 21, that is, it has been increased by Rs 2. This new charge will be applicable on ATMs of Axis Bank and other banks. Apart from this, a separate tax will also be levied.
What is ATM interchange fee?
ATM interchange fee is the amount that one bank pays to another bank for using its ATM. For example, if you are a HDFC bank customer and withdraw money from SBI ATM, HDFC has to pay interchange fee to SBI. Banks often charge this fee from their customers, especially when the free transaction limit is exceeded.
How many free transactions are available? (From May 1, 2025)
- In metro cities: 3 free transactions per month
- In non-metro cities: 5 free transactions monthly
- After these limits, every transaction like withdrawing money or checking balance will be charged.
- If you want to avoid ATM charges, you can use digital transactions like UPI, internet banking or mobile banking more.
