Withdrawals from ATMs are going to be expensive, know when the new rule is being enforced

Recently, State Bank of India has increased service charges on many services, including withdrawal of funds from ATMs. Now after the notification from the Reserve Bank, from January 2022, withdrawing money from ATMs will be more expensive than before. This means that the load in your pocket may increase by the New Year. Tell us what has been said in this new notification of Reserve Bank of India.

You have to pay 21 for each transaction

The Reserve Bank said it would have to pay up to Rs 21 for additional ATM transactions from January 1. As per RBI rules, the bank cannot charge any of its customers for 5 ATM transactions in a month. In addition, a fee of 20 rupees is required to be paid on the transaction. People who use ATMs of other banks do not have to pay any fees for 3 free transactions in metro cities and 5 transactions in non-metro cities. In addition, the interchange fee has been increased from 15 to 17 rupees.

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What the RBI does in its notification

In a notification issued by the Reserve Bank of India, a change in the transaction interchange fee for ATMs was made in August 2012. But the fees paid by consumers were last revised in 2014. As such, a lot of time has passed since these tariffs were changed.

New service charges for SBI Basic Savings Bank Deposit (BSBD) account holders effective July 1, 2021 The bank has decided to increase service charges on ATM withdrawals, checkbooks, money transfers and non-financial transactions which have now been implemented.

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