Customers will have to pay a charge of Rs 23 for withdrawing cash from ATM. Private sector Axis Bank is going to increase the fee for ATS transactions. The bank has announced an update in its tariff structure for savings accounts as well as trust accounts. Under the update, this private bank is increasing the fee for ATM transactions after the free limit for both Axis and non-Axis ATMs.

From which date will the new fee be applicable

This change of Axis Bank will affect customers with savings accounts, NRI accounts and trust accounts and some priority and burgundy segments. The bank said that the new fee for ATM transactions will be applicable from July 1, 2025. Let us tell you that on March 28, 2025, RBI had issued a notification saying that the ATM interchange fee will be decided by the ATM network.

RBI had said in the notification, “After the free transaction limit is exhausted, a maximum fee of Rs 23 can be charged from the customer on each transaction. This will be effective from May 1, 2025. If any tax is applicable on the transaction, it will be paid separately. These instructions, with changes to be made as per the need, will also apply to transactions done on cash recycler machines (other than cash deposit transactions).”

How much is the charge now

Let us tell you that Axis Bank currently charges Rs 21 on each transaction after the free limit is over. However, after the change comes into effect from July 1, a fee of Rs 23 will be charged on each transaction. That is, this private bank will also increase the fee by Rs 2 on each transaction after the free limit on ATM transactions as per RBI rules, due to which customers will have to pay Rs 23.

How many transactions can be done in the free limit

According to the rules, if you are using another bank’s ATM, then you can do a maximum of 3 free transactions in a month in metro cities and a maximum of 5 free transactions in non-metro cities. If you are using your bank’s ATM, then you can do 5 free transactions in a month. After crossing the limit of free transactions, you will have to pay a charge of Rs 23 on each transaction.

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In today’s era, the way of making payments has completely changed. Now people make payments digitally. Through UPI, your payment is done in a few seconds. Even from drinking tea to paying the rickshaw fare, people now pay online.

But despite this, cash is needed for some work. There are some people in the country who still prefer to make cash payments instead of online payments. Nowadays, no one goes to the bank to withdraw cash.

Rather, people withdraw money from ATM for this. If you also make cash payments and withdraw money from ATM, then now you should be careful because you can withdraw free money from ATM only so many times. After this, you will have to pay extra fee. Let us tell you the whole news.

Actually, from 1st May 2025, the rules for withdrawing money from ATM have changed. According to the rules of Reserve Bank of India, if someone transacts up to the free limit, but after that, when he withdraws money, he has to pay a charge.

Earlier, Rs 21 had to be paid for every transaction. But now it has been increased after the new rules, now after the free limit, people will have to pay Rs 23 instead of Rs 21. This rule has come into effect from 1 May 2025.

Let us tell you that if you live in metro cities like Delhi, Mumbai, Bangalore and Kolkata, then you can withdraw free money from ATM three times a month. Whereas in non-metro cities i.e. small cities, you can withdraw money five times.But after this, if you withdraw money from the ATM, you have to pay a charge which has now been increased by the RBI. Let us tell you that if you check the balance from any other bank other than your own or take out a mini statement, then also you will have to pay a charge.

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The post ATM Withdrawal Limit fixed: Now you can withdraw money from ATM only so many times, check here first appeared on Rightsofemployees.com.

If you frequently withdraw cash from ATM, then this news may be useful for you. Actually, there is a possibility of increase in the charge for withdrawing cash from ATM. According to the report, Reserve Bank of India (RBI) is planning to increase the charge for exceeding the free 5 transaction limit by banks and ATM interchange fees.

Citing people familiar with the matter, Hindu BusinessLine reports that the hike in charges means that the bank’s customers will have to pay more for withdrawing cash from ATMs. The National Payments Corporation of India (NPCI) has suggested that the maximum charge for customers withdrawing cash after 5 free transactions be increased from Rs 21 to Rs 22.

NPCI recommends increase in several charges

NPCI has also proposed to increase the ATM interchange fee. It has been recommended to increase the interchange fee for cash transactions from Rs 17 to Rs 19, while for non-cash transactions, it has been said to increase this charge from Rs 6 to Rs 7.

What is ATM interchange charge?

Let us tell you that interchange charge is the fee that one bank charges from another bank when a customer takes cash withdrawal or other services using the ATM of a bank other than his own bank. Suppose, your bank is SBI, but you use HDFC Bank’s ATM to withdraw cash. In this case, HDFC Bank charges interchange charge from SBI for processing your transaction.

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