Calculate incremental ATM charges from January 1
By Lokmat English Desk | Published: December 27, 2021 02:23 PM2021-12-27T14:23:44+5:302021-12-27T14:23:44+5:30
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The new year is going to bring many changes. This includes a significant change in the rate of withdrawal from banks' ATMs. ATM service charges will be increased by one rupee. This will put an extra burden on the pockets of the consumers.
The customer who is a customer of the bank is allowed to withdraw cash from his bank's ATM five times a month. Cash can be withdrawn up to three times from ATMs of other banks. But there is a charge for subsequent withdrawals.
At present the charge is Rs. 20 per transaction. However, from January 1, 2022, it will be increased by one rupee. This means that customers will have to pay Rs 21 for each withdrawal if the free withdrawal limit is exceeded.
Banks have to maintain their ATMs at various locations.
There was a growing demand for banks to levy charges on ATM transactions to recover the cost. Charges have not been increased since 2014.
In August this year, the charge was raised to Rs 20. Now it will add another rupee. How many ATMs are there in the country? There are a total of 2,13,145 ATMs across the country.
