Currently, banks charge 21 rupees on every withdrawal after exceeding the free transaction limit, which has now been increased to 23 rupees. RBI has also increased the ATM interchange fee by 2 rupees. Now 19 rupees will be charged on every interchange transaction. Currently the interchange fee is 17 rupees.

According to the rules of banks, customers can make 5 free transactions every month in metro cities and 3 free transactions in non-metro cities. After this, a fixed charge will have to be paid on every additional transaction. RBI has decided to increase the charges on the request of white-label ATM operators. The operators had demanded to increase the charges citing rising operational costs.

You will have to pay more to check the balance

. The charges for non-financial transactions like checking the balance have also been increased. Earlier, you had to pay Rs 6 for checking the balance, which has now increased to Rs 7. ATM interchange fee is the fee that a bank pays to another bank in exchange for providing ATM service. This is usually a fixed fee charged on every transaction, which banks charge from customers.

The increase in ATM charges may have a greater impact on the customers of smaller banks
as these banks are dependent on larger financial institutions for ATM network and related services.

ATM usage is decreasing

Due to the increasing trend of digital payments, the need for cash withdrawal from ATMs has reduced. According to government data, the total value of digital payments in India was Rs 952 lakh crore in FY 2014, which increased to Rs 3,658 lakh crore by FY23. This shows that people are now giving more preference to cashless transactions.

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The post ATM Cash withdrawal Fees increased by 2 Rupees Per Transaction From 1st May first appeared on Rightsofemployees.com.

The fee for withdrawing cash from ATM has increased from February 1, 2025. Under the new rules, now money can be withdrawn from ATM only 3 times every month for free. After this, a fee of Rs 25 will be charged on every additional transaction, which was Rs 20 earlier. If you withdraw cash from the ATM of any other bank instead of your bank, then you will have to pay Rs 30 per transaction for this. Apart from this, a maximum of Rs 50,000 can be withdrawn in a day.

LPG cylinder prices reduced

Oil marketing companies have reduced the price of LPG in 19 kg cylinder by Rs 4 to Rs 7 from February 1, 2025. The special thing is that this is the second consecutive month when LPG prices have come down. OMCs revise the prices of LPG cylinders at the beginning of every month. There has been no change in the price of domestic gas cylinder i.e. 14 kg LPG cylinder since August 1, 2024.

Changes in the rules of UPI transactions

National Payments Corporation of India (NPCI) has also amended the rules related to UPI transactions. From February 1, UPI IDs made with special characters (such as @, #, $, etc.) will not be accepted. Now UPI users will have to create their ID using only alphanumeric characters. This change has been made with the aim of increasing the security of digital payments.

Change in Minimum Balance:

The minimum balance limit will change from February 1. Now account holders will have to maintain a higher minimum balance in their savings account. In State Bank of India, account holders will now have to maintain a minimum balance of Rs 5000 instead of Rs 3000. The minimum balance for Punjab National Bank customers will also be increased from Rs 1000 to Rs 3500. Whereas, in Canara Bank, the minimum balance limit will be increased from Rs 1000 to Rs 2500.

Maruti cars have become expensive.

India’s largest auto manufacturer Maruti Suzuki India has given a big shock to its customers. The price of different models of Maruti Suzuki has been increased from February 1, 2025. Maruti cars have become expensive by up to Rs 32,500.

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The post ATM Withdrawal Fee Hike: Bank increased the fee for withdrawing cash from ATM, check new rate first appeared on Rightsofemployees.com.

All banks in the country offer a certain number of free ATM transactions to their customers every month. If this limit is exceeded within a month, customers will have to pay extra on every ATM transaction, be it financial or non-financial.

As per the latest guidelines of the Reserve Bank of India, banks can charge a maximum of Rs 21 on each withdrawal irrespective of the number of free transactions. Come, let us know which banks give limit for how many transactions in a month and how much charge you will have to pay after that.

How many transactions will be free in a month?

Most banks offer customers 5 free transactions every month. If it is not used, this limit does not carry over to the next month. Come, let us know about the rules of some major banks of the country.

Punjab National Bank ATM

PNB allows 5 free transactions every month at its ATMs in both metro and non-metro areas. After this, customers will have to pay Rs 10 on each transaction. At the same time, at ATMs of other banks, PNB offers three free transactions in metro cities and five free transactions in non-metro cities. After this the bank will charge Rs 21 plus tax for financial transactions. PNB will charge Rs 9 plus taxes for non-financial transactions.

SBI ATM

State Bank of India offers 5 free transactions (including non-financial and financial) at its ATMs for average monthly balance above Rs 25,000. Transactions above this amount are unlimited. There is a charge of Rs 10 along with GST at SBI ATM for financial transactions exceeding the limit. At other bank ATMs, it is Rs 20 plus GST per transaction.

ICICI Bank ATM

ICICI Bank allows its customers 3 free transactions in metro areas and 5 in non-metro areas every month. After that, Rs 8.5 is charged for every non-financial transaction and Rs 21 for every financial transaction at ICICI Bank ATMs.

HDFC Bank ATM

There is a limit of 5 free transactions every month at HDFC Bank ATMs. For non-bank ATMs its limit is 3 transactions in metro areas and 5 transactions in non-metro areas. After exceeding the limit, customers will be charged Rs 21 for each financial transaction and Rs 8.5 for each non-financial transaction.

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The post ATM Cash Withdrawal Charge : SBI, PNB, HDFC and ICICI Bank changed the rules, now customers will have to pay this much charge for withdrawing money from ATM. first appeared on Rightsofemployees.com.