Service charges for withdrawing money from ATMs are on the rise

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New Delhi-ATM The Reserve Bank of India (RBI) has allowed banks to increase the fees charged at centers.

There is no charge for withdrawing money five times a month from the ATMs owned by the bank where the customer has an account. Similarly, withdrawals from other bank ATMs will not be charged up to three times per month in ‘metro’ cities and up to five times in non-metro cities. Customers will be charged a service charge of Rs. 20 per transaction for withdrawing more than that.

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The Reserve Bank has allowed banks to increase this fee from 20 rupees to 21 rupees. This tariff increase will be effective from January 2022. Effective from 1st January. The seller will be charged a bank fee of Rs. 15 per transaction when purchasing goods using ‘Debit’ and ‘Credit’ cards. This is called ‘Interchange’ fee. The fee will be increased from 1 to 15 rupees to 17 rupees next month



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