Fact Check: You won’t be charged extra for ATM transactions from June 1

A Facebook post is doing the rounds claiming that from June 1, banks will charge us Rs 173 in taxes and service charges for every money withdrawal from an ATM beyond four transactions. India Today Anti Fake News War Room (AFWA) has found that the viral claim is misleading.

In these difficult times, brought about by the pandemic, it is imperative upon us to save every penny that we have earned. None of us would want to be overburdened by extra taxes imposed by the government directly or indirectly. However, a Facebook post doing the rounds claims that from June 1, banks will charge us Rs 173 in taxes and service charges for every money withdrawal from an ATM beyond four transactions. Several Facebook users have posted an image graphic in Hindi which translates to, “Achhe din has started. Withdrawing money more than four times will invite a tax of Rs 150 and a service charge of Rs 23, which comes to a total of Rs 173. One more gift! From June 1, every bank transaction after four transactions will cost you Rs 150 more. Why don’t you slit people’s throats for once and all? Taxes on earnings, savings, bank deposits, and even if you want to withdraw your own money.”