Do you know about these 5 changes in ATM cash withdrawal rules?

Many online advisory firms have started various plans that can provide liquidity during an emergency

According to CATMi ground realities were not considered before formulating the decision, and the officials were also surprised that there was no consultation with the industry players before the decision was announced.

3. ATM cash withdrawal charges beyond the free limit: RBI has allowed banks to increase the fees on ATM transactions beyond the free ATM transaction limit by Rs 21 for interchange fee and general escalation in costs. This increase will be effective from January 1, 2022.

4. Interchange fee hike: The RBI has allowed an increase in interchange fee per transaction from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions in all centres. This shall be effective from 1st August 2021.

5. New charges on ATM withdrawal beyond the free transaction limit: A bank customer will have to pay Rs 21 for each ATM cash withdrawal beyond the free transaction limit. This will become effective from 1st January 2022. Currently, this charge is Rs 20.