ATM Cash Withdrawal Increased Fee: Withdrawing cash from ATM becomes expensive, now it will be charged so much

ATM Cash Withdrawal Increased Fee: Often every person needs to withdraw cash from ATM. Now withdrawing cash from ATM has become more expensive. For every withdrawal transaction after the free withdrawal limit, you will have to pay a higher price than before. Actually, all the banks across the country have made a big change in the charges for cash withdrawal from ATMs. This fee is 20 to 22 rupees. Different banks have imposed different rules and charges.

Even though the number of UPI transactions has increased significantly in today’s time. But in many places you need cash, for which you have to withdraw money from ATM. But do you know that almost all the big government and private banks of the country have made some changes in the charges for withdrawing money from ATMs. Know more what those changes are.

Will have to pay up to Rs 22

Explain that banks have set certain limits for customers to withdraw money from ATMs of their own and other banks in 1 month. You will have to pay a fee for doing more transactions than the free cash withdrawal from the ATM. Now this fee has increased. This fee has become from 20 to 22 rupees.

Financial and non financial services

ATM withdrawal includes both financial (withdrawing or withdrawing) and non-financial services (without withdrawal) transactions. Generally, banks provide up to 5 free transactions from their ATMs and up to 3 from other ATMs. Above the free limit, different banks have different rules. In addition, the charges also vary.

When did the new charge come into force

Last year RBI had issued a circular. It said that for withdrawal of money in excess of the monthly free transaction, a charge of Rs 21 per transaction would be levied. GST is also levied on this separately. These new charges have come into effect from January 1 this year.

What is the rule of SBI

SBI offers five free transactions at ATMs. The free transaction limit at ATMs located in six metro cities, which includes Delhi, Kolkata, Mumbai, Chennai, Bengaluru and Hyderabad, is 3 per month. The free transaction limit at ATMs located in other areas is 5. On top of this the fee on non-money transactions is Rs.5. This fee is at SBI ATMs. But at other bank ATMs, this fee is Rs 8. GST will also be charged separately. To withdraw money, it is Rs 10 and Rs 20 respectively. Here also the GST is different. If your balance is less and due to this your transaction fails, then Rs 20 will be charged along with GST charges.

PNB and Axis Bank

PNB offers three free transactions in 6 metro cities, which includes both money and non-money transactions. On top of this the cash withdrawal fee is Rs 10 per transaction. No money transaction is Rs 9 per transaction. If the transaction fails due to low balance, you will be charged Rs. Charges for international transactions The cash withdrawal fee is Rs 150 per transaction. But the non-financial transaction fee is Rs 30 per transaction. Axis Bank offers 3 free monthly transactions at ATMs across six metro cities. For customers in other regions, the limit is 4. Similarly, the rules of all banks including ICICI Bank and HDFC Bank are different, which you can see by visiting their website.