The RBI approved a hike in ATM interchange fees starting May 1, 2025. This change will increase costs for customers using ATMs outside their bank network. The decision comes after a proposal by NPCI to help address rising operational costs for white-label ATM operators, which are non-banking entities authorized by the RBI to manage ATMs.
Revised ATM charges now: cash withdrawal fee up to ₹19 (was ₹17) and balance inquiry fee up to ₹7 (was ₹6) per transaction. New charges apply after customers exceed monthly limits: 5 transactions in metro cities, 3 in non-metro areas.
The increased interchange fee may impact frequent ATM users who go beyond their bank’s network. Smaller banks, dependent on external ATM networks, could face higher costs. This might lead to increased maintenance fees for customers. To avoid extra charges, frequent ATM users can stick to their bank’s ATMs or opt for digital payments instead.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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