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A view of Reserve Bank of India logo outside its headquarters in Mumbai. File
| Photo Credit: Emmanual Yogini
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The Reserve Bank on Friday (March 28, 2025) permitted banks to increase charges on ATM cash withdrawals beyond the free monthly usage by ₹2 to ₹23 per transaction from May 1.
Customers are eligible for five free transactions (inclusive of financial and non- financial transactions) every month from their own bank Automated Teller Machines (ATMs).
They are also eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs — three transactions in metro centres and five in non-metro centres.
“Beyond the free transactions, a customer may be charged a maximum fee of ₹23 per transaction. This shall be effective from May 1, 2025,” the RBI said in a circular.
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Currently, banks are allowed to charge ₹21 per transaction, after a customer exhausts the free transaction limit.
The RBI further said the instructions shall also apply, mutatis mutandis, to transactions done at cash recycler machines (other than for cash deposit transactions).
Published – March 28, 2025 05:51 pm IST
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RBI allows banks to hike ATM charges to ₹23/withdrawal beyond free monthly usage from May 1
