The RBI has stated that as of May 1, 2025, clients use ATM banking services will incur a charge of Rs 23 per transaction, an increase from previous amount of Rs 21 per transaction. The valuable bank stated that clients will still be eligible for five complimentary transactions (each financial and non-financial) per month at their own bank’s ATMs.
RBI Charge Rs 23 per ATM Transactions
Clients are allowed to make 5 free transactions per month (which includes both financial and non-financial activities sports) at ATMs operated by their own bank. Furthermore, they may be entitled to a few complimentary transactions at ATMs of other banks in city areas and five in non-metro areas. Any transactions exceeding these limits may incur a rate of up to Rs 23 per transaction.
The Center has disclosed that the State Bank of India (SBI) is experiencing high charges from ATM cash withdrawals, while as different public sector banks (PSBs) are encountering financial problems. Also, RBI has said the ATM transaction fees will now be determined via the ATM community.
NFS Committee approved ATM Fees Hike
As of February 2025, there are 258,000 ATMs and cash recycler machines in country. Previously, on March 6, the National Financial Switch (NFS) guidance committee approved increasing the ATM transaction fees for financial and non-financial transactions to ₹19 and ₹7, respectively. The committee meets periodically (at the least 2 times in a year) to evaluate the important thing performance parameters of NFS and to talk about different opportunities and challenges which might also rise up from time to time.
Following this, the National Payments Corporation of India (NPCI) requested the RBI to implement the exchange in transaction fees. RBI, sent its letter on March 11, communicated that ATM transaction fees are decided by the ATM networks.
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