The new ATM rules regarding free transactions and charges bring major changes for bank users in India. These updates limit free ATM usage and increase fees after the limit. If you use ATMs often, these new ATM rules regarding free transactions and charges can affect your monthly expenses. Understanding them can help you avoid extra costs.
New Free ATM Transaction Limits
Customers in metro cities now get 3 free ATM transactions per month. Those in non-metro areas can use 5 free transactions monthly. These include cash withdrawals and services like balance checks.
Charges After Free Limit
Banks will charge fees after you cross the free limit. The maximum fee is ₹32 per transaction plus GST. Non-financial services may cost up to ₹11 per request. Each bank may set its own charges within this range.
Bank Charges Overview
Some banks charge around ₹23 per extra transaction. Others apply similar flat fees. It is important to check your bank’s policy to avoid surprises.
Rules for Large Transactions
Customers who deposit or withdraw ₹20 lakh or more in a year must provide PAN and Aadhaar details. This rule improves transparency and reduces unaccounted cash use.
The new ATM rules regarding free transactions and charges aim to promote digital banking and reduce cash misuse. Plan your ATM usage wisely to avoid extra fees and manage your money better.
