ATM charges are being revised upwards from 1st January 2022!
Permission has been granted for the bank account holders with credit cards to withdraw cash free of charges only 5 times a month.
Cash can be withdrawn from ATMs of other banks (other than the account-holding bank) 3 times a month without any charges in big cities.
In other non-urban areas, cash can be withdrawn 5 times a month without charges.
Presently, if cash is withdrawn from the ATMs above the mentioned limits, presently, an additional charge of Rs. 20 is levied for the ATMs of the account-holding bank and if cash is withdrawn from other bank ATMs above the limit, an additional charge of Rs. 23.60 is levied including GST.
The above charges are being revised upwards from 1st January 2022!
The Reserve Bank of India has permitted this revision in ATM withdrawal charges to the banks.
As per this, if cash is withdrawn from ATM above the permitted limit, each transaction will be levied with an additional charge of Rs. 21/- instead of the present Rs. 20/-.
If other ATMs are used for cash withdrawal above the permitted limit, it is informed that additional charges of Rs. 25/- including GST from 1st January 2022.
The Reserve Bank of India has permitted this increase as the operating expenses of the banks have crept up!
With the private banks such as HDFC and Axis having already revised these charges, all the other banks are also set to increase the ATM withdrawal charges from 1st January 2022!