RBI ATM-0d8ca797
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1 ATM Cash Withdrawal Rules Changed: RBI
1.1 RBI said these charges have been allowed to increase due to the increasing cost of ATM deployment and expenses towards the maintenance of ATM incurred by banks or white label ATM operators.
1.2 Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.
1.3 Related

ATM Cash Withdrawal Rules Changed: RBI

Reserve Bank of India (RBI) has changed some rules regarding cash withdrawal from automated teller machine (ATM). These ATM cash withdrawal rule changes include higher charges on transactions beyond the free permissible limit, a new free ATM transaction limit and a rise in interchange fee.

The new ATM charges as defined by RBI are as under:

  1. Free cash withdrawal limit from own bank: Bank customers can now do five free financial and nonfinancial transactions every month from their own bank ATMs.
  2. Free ATM transaction limit from other banks: ATM cardholders can do three free financial and nonfinancial transactions in metro centres while five in the non-metro transaction from other bank ATMs
  3. Charges on ATM cash withdrawal beyond the free limit: RBI allowed banks to increase charges on ATM transactions beyond the free ATM transaction limit.
  4. Rise in interchange fee: Interchange fee per transaction changed from Rs 15 to Rs 17 for financial transactions while from Rs 5 to Rs 6 for non-financial transactions in effect from August 1, 2021.
  5. New charges on ATM withdrawal beyond the free transaction limit: Bank customer will have to pay Rs 21 (currently it is Rs 20) for each ATM cash withdrawal beyond the free transaction limit in effect from January 1, 2022.
RBI said these charges have been allowed to increase due to the increasing cost of ATM deployment and expenses towards the maintenance of ATM incurred by banks or white label ATM operators.
Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

He has contributed in ICAI, ICSI and MCCI and other various Newsletters. He is also a speaker at various platforms including seminars / webinars.

2 replies on “ATM Cash Withdrawal Rules Changed: RBI”

  1. The govt says etransactions should be followed, but penalize the people by imposing charges for using ATM and non financial transactions. Thalaiyida Raj

  2. garib logo ko lotney ka kam kareh ho ,asha ek din aeyga log bank chudkar ghar may paisa rakhna podega. kithna charges or lagogy..
    sabhi ATM may paisa hey yea thik se chalta uska charge bank per nehi lagta

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