ATM Charge: Big news for ATM users. There is going to be some change in the ATM rules. Actually, there is a change in the ATM charges. According to reports, after the RBI approved the proposal of National Payments Corporation of India (NPCI), withdrawing money from another bank through ATM will now become expensive.
What will change
This change is going to happen from 1 May 2025. Currently, it costs Rs 17 to withdraw money from another bank’s ATM after a certain limit, now it will cost Rs 19. Along with this, the charge for checking the balance has also been increased from Rs 7 to Rs 9.
Why has the charge increased
There was a demand for increasing the interchange fee from ATM network operators and white label ATM companies. The reason for increasing ATM charges is their maintenance and operation expenses which have increased compared to earlier. Due to the increase in ATM charges, customers will now have to pay more charges for withdrawing money or checking balance from non-home bank ATMs.
What to do to avoid increased charges
To avoid this increased charge, you should use the ATM of your home bank or use the digital payment option. As per the instructions of RBI, from May 1, 2025, more charges will have to be paid for withdrawing cash than before.