ATM fee raised from Rs 21 to Rs 23 per transaction effective May 1: RBI

ATM fee raised from Rs 21 to Rs 23 per transaction effective May 1: RBI

Reserve Bank of India on March 28 said ATM fee has been raised from Rs 21 to Rs 23 per transaction effective May 1, 2025.

"Customers are eligible for five free transactions (inclusive of financial and non- financial transactions) every month from their own bank ATMs," said RBI.

ATM interchange fee will be decided by ATM network, said the banking regulator.

Bank customers are also eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs viz. three transactions in metro centres and five transactions in non-metro centres. "Beyond the free transactions, customer may be charged a maximum fee of ₹23 per transaction. This shall be effective from May 1, 2025," said RBI.

An ATM interchange fee is a charge that one bank pays to another for offering ATM services to customers.

Before this, RBI revised the interchange fee in June 2021.