New Delhi: The year 2021 is about to end now. This year inflation has set many new records. However, the new year is also starting with inflation. Withdrawal of cash from ATM is going to be more expensive from the year 2022. On crossing the free ATM transaction limit from the first of the next month i.e. January itself, ATM users will have to pay more charges.
RBI has allowed to increase the charges for cash and non-cash ATM transactions after the free monthly limit from January 1, 2022. Axis Bank said that according to the guidelines of the Reserve Bank (RBI), the fee for financial transactions above the free limit at Axis Bank or other banks’ ATMs will be Rs 21 plus GST. These revised rates will be effective from January 1, 2022.
How much will the chart increase from next month
Till now you have to pay a charge of Rs 20 for crossing the monthly limit of free transactions. At the same time, from next month, Rs 21 per transaction plus GST will have to be paid. RBI has issued a circular stating that to compensate banks for higher interchange fees and have increased the cost by general. Therefore, banks have been allowed to increase the charge to Rs 21 per transaction.
5 transactions can be done for free
Three free transactions will be allowed to do five free transactions from ATMs of your banks. This will include financial and non-financial transactions. Customers have been allowed to do 3 free transactions from ATMs of other banks in metro cities and 5 transactions at non-metro centers.
