ATM Cash Withdrawal to get costlier from Jan 1

In the new year, bank customers will have to pay more charges for withdrawing money after the limit of free withdrawal from ATM is over. From January 1, 2022, banks will charge a transaction fee of Rs 21 per transaction instead of Rs 20 for ATM withdrawals over and above the free withdrawal limit. 

Till now, bank customers were not charged any fee for withdrawing money from ATMs five times every month. After the free withdrawal limit is over, the bank charges Rs 20 per transaction. But after withdrawing money for the sixth time from January 1, you will have to charge Rs 21 and add tax on it. However, from balance checking to mini statement or PIN change, all non-financial transactions will remain free. 

Fee will be levied from January 1

With the new rates coming into effect from January 1, customers of the bank will have to pay Rs 21 for financial transactions and Rs 8.50 for non-financial transactions. India (RBI) has allowed banks to charge more than a certain free monthly limit for withdrawing money or doing other transactions through ATMs. According to the RBI circular issued by RBI on June 10, keeping in view the increase in card usage and other costs, banks were allowed to increase the per transaction charges at other banks' ATMs.