ATM Rule Change: Withdrawing money from ATM will be expensive, from May 1, you will have to pay this much charge on every transaction

ATM Rule Change From 1st May: If you withdraw money from ATM, then from 1st May your pocket expenses are going to increase and you will have to pay more charges on every transaction than before. RBI has already given its approval to NPCI’s proposal for this increase.

ATM Rule Change: If you use ATMs of all banks to withdraw cash, then this news is going to shock you. With the beginning of next month, ATM withdrawal is going to be expensive and your pocket is going to be lighter to withdraw money from ATM. Let us tell you that the Reserve Bank of India (RBI) has recently approved the increase in ATM interchange fee (ATM Fee Hike) and this increased charge is going to be implemented from May 1, 2025.

ATM outside home network will be expensive

On the first date of every month, many rules change in the country and many changes (Rule Change From 1st May) are going to be implemented from the first date of next month i.e. May 1. This also includes the rule related to the charge levied on withdrawing money from ATM. Yes, if any transaction is done from an ATM machine outside the home bank network, or balance is checked, then the user will now have to pay more charge than before. Charges for using such ATMs are still applicable and from May 1, it is going to increase even more.

Now the expense is going to increase by this much

The central bank (RBI) had recently given permission to increase the fees based on the proposal of the National Payment Corporation of India (NPCI). According to the report, till now, if customers used to withdraw money from a bank ATM of another network instead of their home bank’s ATM, then they had to pay a charge of Rs 17 on every transaction, which will increase to Rs 19 from May 1. Apart from this, if balance was checked from another bank’s ATM, then a fee of Rs 6 was charged on it, which will now be increased to Rs 7.

White Label ATM Operators had demanded

The demand for ATM Transaction Fee Hike was being continuously made by White Label ATM Operators. Their argument was that the old fee is less considering the increasing operational costs. After RBI’s approval of NPCI’s proposal, now the pressure on small banks is expected to increase. Actually, they are very much dependent on the ATM network of other banks due to their limited infrastructure. It is important to know that the increased interchange fee is the amount that a bank pays to another bank when one of its customers uses the ATM of another bank to withdraw money.

It is worth noting that ‘White Label ATMs’ work like the ATMs of government and private banks. Instead of banks, private or non-banking financial companies (NBFCs) install it. With these, you can use cash withdrawal, balance check or all those facilities which are available in other ATMs through Debit Card and Credit Card.

What is the free transaction limit of banks

Let us tell you here that these charges are applicable when bank users withdraw money after their free monthly transaction limit. In metro cities, the limit of free transactions from ATMs of other banks other than the home bank has been fixed at five, while in non-metro cities the limit of this free transaction is three.

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