Big banking alert! ATM withdrawal charges to increase from January 1, check new rates and other details

From next month, banks will increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit.

New Delhi: From next month, ATM withdrawal is going to pinch the customer's pocket, if they exceed the monthly limit of free transactions.

The Reserve Bank of India had in June permitted banks to increase charges for cash and non-cash ATM transactions beyond free monthly permissible limit from next year. 

"To compensate the banks for the higher interchange fee and given the general escalation in costs, they are allowed to increase the customer charges to Rs 21 per transaction. This increase shall be effective from January 1, 2022," the RBI had said in a circular.