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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There is an important news for those who use ATM to withdraw money. The Reserve Bank of India (RBI) has approved the increase in ATM charges. The increased charges will be applicable from next month i.e. May 1. After this change, customers will have to pay more charges after crossing the free transaction limit. However, there is no change in the free transaction limit of ATM. You will continue to get 5 free transactions every month from your bank’s ATM. At the same time, 3 free transactions will also be provided from ATMs of other banks in metro cities and 5 free transactions in non-metro cities. But after this, the customer will have to pay more charge for every additional withdrawal.

Under the new rules, after the free transaction limit ends, from May 1, the customer will have to pay Rs 23 for every ATM withdrawal. Currently, this fee is Rs 21. That means you will have to pay Rs 2 more for every additional transaction. Experts believe that this increase in ATM charges will affect the customers of small banks more.

This is because small banks have less ATM network and they do not have ATMs everywhere. Because of this, their customers have to use ATMs of other banks more. If you use ATM only once or twice a month, then it will not affect you much. But customers who use ATM more, their pockets will be affected.

Why ATM charges increased

Third party ATM operators and banks have been demanding an increase in ATM charges for a long time. They argue that running an ATM has become a loss-making deal due to the increase in operating costs. On this issue, the National Payments Corporation of India (NPCI) had also recommended an increase in the charges to the Reserve Bank of India. Which has now been approved.

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The post ATM Fees Hike: From May 1, a charge of Rs 23 will be levied on ATM withdrawal. Check New Rules By RBI 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.