If you often withdraw money from ATM, then this news is very important for you! Now withdrawing money from an ATM is going to be expensive. The Reserve Bank of India (RBI) has approved the increase in the fee charged for withdrawing cash from ATMs and other transactions. This new rule will come into effect from May 1, 2025, which will have a direct impact on your pocket.

Earlier, when there was no charge for withdrawing money from an ATM up to a limit, now after the free limit you will have to pay more money. So let us know when withdrawing money from an ATM will become expensive and how much the fee will increase.

Now more amount will be deducted on withdrawing money from the ATM

This news is especially important for those who frequently withdraw money from ATMs. According to the news, this rule of increasing the fee for withdrawing cash from ATMs has been made jointly by the central bank RBI and NPCI (National Payments Corporation of India).

After this change, withdrawing cash will put more burden on your pocket. Earlier, when ₹ 17 was deducted from the account for withdrawing money, now it will increase by ₹ 2 and ₹ 19 will be deducted. This increase will affect those who depend more on cash rather than digital payments.

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Checking balance will also become expensive

Withdrawing money from ATMs will now become expensive. This rule can come into effect from May 1, 2025. Along with this, the fee of ₹ 6 charged for checking mini statements, balance, and financial transactions will also increase to ₹ 7.

However, many people will not be aware that there is a fee even for checking balance and taking out mini statements. In such a situation, people unnecessarily go to the ATM and start checking their account balance, due to which they are inadvertently charged.

How many transactions are free in a month

Earlier, the fee used to be deducted immediately on withdrawing money from an ATM, but later some limit was set. All customers can withdraw money from their bank’s ATM three times a month without paying any fee. If you transact more than this, a fee is deducted from your account.

Also, if you withdraw money more than 3 times from an ATM of a bank other than your bank’s ATM, an interchange fee is charged. Therefore, it is wise to know your free transaction limit and use the ATM accordingly.

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