Withdrawals from ATMs will become more expensive from January 2022. Withdrawals more than 5 times will result in higher charges.

Withdrawals from ATMs will become more expensive from January 2022. Withdrawals more than 5 times will result in higher charges.

From January 1, 2022, bank customers with debit and credit cards will have to pay extra charges for the number of free ATM transactions.
Withdrawals from ATMs will become more expensive from January 2022. Withdrawals more than 5 times will result in higher charges.

This is the news of every common man’s trouble. From January 1, 2022, bank customers with debit and credit cards will have to pay extra charges for the number of free ATM transactions. The decision has been announced by the Reserve Bank of India that from next month, customers will be charged higher fees for ATM transactions. According to the RBI notice, customers will have to pay Rs 21 per transaction instead of Rs 20 for more than five free transactions including financial and non-financial transactions from their respective banks. The Reserve Bank of India had said in a notification dated June 10, 2021 that the increase would be effective from January 1, 2022. The central bank said, “These guidelines will also apply to transactions on cash recycling machines (in addition to cash deposit transactions) which include necessary changes. Three free ATM transactions will be available.

Customers are eligible for five free transactions (including financial and non-financial transactions) each month from their bank’s ATM. They are also eligible for free transactions (including financial and non-financial transactions) from other bank’s ATMs. According to the circular dated August 14, 2014, in addition to free transactions, there is a limit / limit of Rs. 20 per transaction. In view of higher interchange fees and general increase in cost, they are allowed to increase customer charges up to Rs. 21 per transaction.

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Banking informs consumers.

Meanwhile, all banks have started informing consumers. HDFC visited its official website and wrote, “From January 1, 2022, the ATM transaction fee rate has been revised to Rs. 21 + tax above the free limit of Rs. 20 and above. For transactions at HDFC Bank ATMs, only cash withdrawal transactions will be considered for charging. Non-financial transactions (balance inquiry, money statement and PIN change) will be free. Refunds. And non-financial transactions (balance inquiry, money statement and change of PIN) “Axis Bank wrote. An update on its official website, “Free from January 1, 2022, at Axis Bank or other bank ATMs.” Excessive financial transaction charges will be INR 21 + GST.


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