Debit or Credit cardholders are set to observe a major change in 2022 as the RBI has chosen to hike the charges on ATM withdrawals for public just as private banks the nation over. It is to be noticed that the climbed charges will be material later the client will deplete the free month as far as possible.
The notice gave by RBI said that clients should pay Rs 1 more than whatever they were paying prior to withdraw cash.
Here are the new ATM rules, new ATM charges:
– Earlier, customers had to pay Rs 20 per transaction after the exhaustion of free limit, now the customers will have to pay Rs 21 per transaction.
– According to RBI,the charges have not been revised since August 2014.
– RBI said that the step will compensate the banks for higher interchange fees and general escalation in costs.
The new charges will be applicable from January 1, 2021.
-It is to be noticed that clients are permitted 5 free exchanges from their own bank.
-Clients are additionally qualified for pulling out cash from other banks’ ATMs. Three such exchanges, each month, are permitted in metro urban areas and five in non-metro urban areas.
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