New ATM trading rules starting May 1: SBI, Bob, HDFC, ICICI Bank notify new fees; check here
The Reserve Bank of India will now charge fees for ATM transactions, meaning ATM users now need to be more aware of their upcoming transactions. Apex agencies increase ATM fees, but if customers exceed their liberal limits. The fee has been increased to cover the cost of owning and maintaining the ATM and to provide services to customers of other banks.
New ATM trading rules starting May 1: SBI, Bob, HDFC, ICICI Bank notify new fees; check here
The Reserve Bank of India will now charge fees for ATM transactions, meaning ATM users now need to be more aware of their upcoming transactions. Apex agencies increase ATM fees, but if customers exceed their liberal limits. The fee has been increased to cover the cost of owning and maintaining the ATM and to provide services to customers of other banks.
How much will the customer charge?
The new rule will take effect from 1 May 2025, under which the client will now have to pay Rs 2 per transaction if it exceeds its free withdrawal limit. If the customer exceeds the monthly free monthly limit, they will be Rs 23 per transaction on ATMS instead of Rs 21.
The number of free ATM transactions is different from that of various states and banks. That is, customers will be allowed to conduct five free ATM transactions on their own bank ATMs each month. They will receive three free ATM transaction opportunities in five free ATM transactions at other bank ATMs located in Metro City and other bank ATMs located in non-Mitero City. However, there are no restrictions or changes to the free trading limit, which applies to those holding savings accounts in various banks in India. Earlier, the client was charged Rs 21 after exhausting the free withdrawal limit. The allegations begin in 2022.
Bank will notify customers of changes
According to HDFC Bank, “Fact from 1 May 2025, the ATM transaction fee rate exceeds the free limit and will be taxed from Rs 21 to Rs 23 (whether applicable).” The bank also notified that in its ATMs, customers will be charged only after the free limit is exceeded, and non-financial transactions will be free.
“To be informed that the client fees for free transactions of other banks ATMs are 23/-Rs per financial transaction, each non-financial transaction (excluding GST) WEF 09.05.2025.”
According to the IndusInd website, “All Savings/Salary/NR/Current Account customers will withdraw ATM cash at INR 23 per transaction at ATMS, a non-Indian bank, exceeding the free limit and are valid for May 1, 2025.”
