RBI has vide its circular dated 10th June, 2021 increased the ATM usage charges as follows:
- Increase in intercharge fee per transaction from Rs.15 to Rs.17 for financial transactions and from Rs.5 to Rs.6 for non financial transactions across all centres, metros or non metros. This will be effective from 1st August, 2021;
- Intercharge fee pertains to the fees charged by the banks to the merchants who processes a credit card or debit card payment.
- Usage charges for customers at ATM machines beyond the stipulated free usage from Rs.20 to Rs.21 per transaction;
- Customers get 5 free transactions at own ATM and 3 free transactions at other bank ATM. In non metro cities, customers get 5 free transactions at other bank ATMs.
- This will come into effect from 1st January, 2022.