RBI Bank: If you also use ATM to withdraw money, then this news is very important for you. Let us tell you that from May 1, withdrawing money from ATM will become expensive. For your information, let us tell you that the Reserve Bank of India (RBI) has given its approval to the banks to increase the ATM interchange fee.
Withdrawing money from ATM will be expensive
After this decision of the Reserve Bank of India, if any withdrawal is done or balance is checked from ATM outside the home bank network, you will have to pay a little more fee than before. Earlier, when you used to withdraw money from another bank’s ATM instead of your home bank’s ATM, you had to pay 17 rupees as a fee, but now you will have to pay 19 rupees.
Earlier, 6 rupees had to be paid for checking balance from another bank’s ATM, but now it has been increased to 7 rupees. Here, we would like to inform you that transaction fee from other bank’s ATM will be charged only when you cross the free transaction limit. In metro cities, the limit of free transactions from other bank’s ATM other than home bank is 5, whereas in non-metro cities, the limit of free transactions is 3.
What is White Label ATM?
RBI has approved the installation of such ATMs at these places under ATM Payment and Settlement System Act 2007 to provide ATM facility to small towns and villages, which do not have the board of any bank. Money can be withdrawn from these ATMs using debit and credit cards. Along with this, facilities like bill payment, mini statement, check book request, cash deposit are also available.