RBI Hikes ATM Withdrawal Fees: Check New Charges for Different Services

ATM Withdrawals New Charges: If you withdraw money from ATM machine (ATM) then there is big news for you. According to a report, withdrawing cash from ATM may become expensive in the coming days. Actually, according to the report of DD News on Tuesday, withdrawing cash from ATM is going to be expensive from May 1. Additional charges will be levied on subsequent transactions. 

How much will be charged for which service?
From May 1, customers will have to pay Rs 2 extra for every financial transaction beyond the free limit. Checking account balance will now cost Rs 7 per transaction, according to the official notification.

These banks depend on larger financial institutions for ATM infrastructure and related services, making them more vulnerable to rising costs.

The demand for ATM has decreased due to increase in UPI payments
Let us tell you that ATM was once seen as a revolutionary banking service. However, it is struggling in India due to the rise of digital payments.