The Reserve Bank of India (RBI) has decided to raise the ATM transaction fee from Rs 21 to Rs 23, which will come into effect from May 1, 2025.
In a clarification statement released on March 28, the RBI explained that customers will still get five free transactions (both financial and non-financial) at their own bank ATMs every month. The bank has also continued to assert that customers will be eligible for free transactions from other bank ATMs: three in metro centers and five in non-metro locations.
When the free transaction limit is crossed, the customers would be charged up to Rs 23 per transaction. The interchange fee structure for ATMs will be decided by the respective ATM networks.
These changes will come into effect from May 1, 2025.