ATM withdrawal Charges : There will be a charge of Rs 23 for withdrawing cash from ATM, this bank is going to increase the fee

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This change by Axis Bank will impact customers with savings accounts, NRI accounts and trust accounts and some priority and burgundy segment customers.

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Customers will have to pay a charge of Rs 23 for withdrawing cash from ATM. Private sector Axis Bank is going to increase the fee for ATS transactions. The bank has announced an update in its tariff structure for savings accounts as well as trust accounts. Under the update, this private bank is increasing the fee for ATM transactions after the free limit for both Axis and non-Axis ATMs.

From which date will the new fee be applicable

This change of Axis Bank will affect customers with savings accounts, NRI accounts and trust accounts and some priority and burgundy segments. The bank said that the new fee for ATM transactions will be applicable from July 1, 2025. Let us tell you that on March 28, 2025, RBI had issued a notification saying that the ATM interchange fee will be decided by the ATM network.

RBI had said in the notification, “After the free transaction limit is exhausted, a maximum fee of Rs 23 can be charged from the customer on each transaction. This will be effective from May 1, 2025. If any tax is applicable on the transaction, it will be paid separately. These instructions, with changes to be made as per the need, will also apply to transactions done on cash recycler machines (other than cash deposit transactions).”

How much is the charge now

Let us tell you that Axis Bank currently charges Rs 21 on each transaction after the free limit is over. However, after the change comes into effect from July 1, a fee of Rs 23 will be charged on each transaction. That is, this private bank will also increase the fee by Rs 2 on each transaction after the free limit on ATM transactions as per RBI rules, due to which customers will have to pay Rs 23.

How many transactions can be done in the free limit

According to the rules, if you are using another bank’s ATM, then you can do a maximum of 3 free transactions in a month in metro cities and a maximum of 5 free transactions in non-metro cities. If you are using your bank’s ATM, then you can do 5 free transactions in a month. After crossing the limit of free transactions, you will have to pay a charge of Rs 23 on each transaction.

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