ATM New Rules: Withdrawing money and checking balance will be expensive from May 1, know what will be the charge

ATM New Rules: The reason for increasing ATM charges is the demand for increasing interchange fees from ATM network operators and white label ATM companies. Their maintenance and operation expenses had increased compared to earlier.

ATM New Rules: Nowadays everyone uses ATM to withdraw money. In such a situation, this is important news for those people. From May 1, 2025, the rules of ATM are going to change. That is, the ATM charge is now changing. After the RBI approved the proposal of National Payments Corporation of India (NPCI), withdrawing money from another bank’s ATM will now become expensive.

From May 1, 2025, withdrawing money from another bank’s ATM after a fixed limit, where earlier it used to cost Rs 17, now it will cost Rs 19. Also, the charge for checking the balance has also been increased from Rs 7 to Rs 9. The bank gives its customers a limit of 5 free transactions in metro cities and 3 free transactions in non-metro cities in a month at other ATMs. Above this, this increased charge will be levied on the transaction.

ATM charge will increase

The reason for increasing ATM charges is the demand for increasing the interchange fee by ATM network operators and white label ATM companies. Their maintenance and operation expenses had increased compared to earlier. In such a situation, the National Payments Corporation of India had placed this demand in front of the Reserve Bank of India, which has been given a green signal by the RBI.

The increase in ATM charges will now have a greater impact on those banks which are more dependent on others for ATM network. Customers will now have to pay more charges for withdrawing money or checking balance from non-home bank MTA. In such a situation, after this increased charge, people who use ATM more should either use the ATM of their home bank to avoid additional charges or else use the digital payment option.

SBI has already made changes in ATM transactions and charges for its customers and it is also applicable from February 1, 2025. But as per the instructions of RBI, from May 1, 2025, more charges will have to be paid for withdrawing cash.

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