Increase in ATM charges effective from May 1, 2025. Here are the key details:
1. Cash Withdrawal Fee:
- New fee: Rs 19 per transaction (an increase of Rs 2 from the previous fee).
2. Balance Inquiry Fee:
- New fee: Rs 7 per transaction (an increase of Rs 1 from the previous fee).
Explanation:
- Banks or ATM operators are raising service charges for cash withdrawals and balance inquiries.
- The increase is likely due to higher operational costs, inflation, or policy changes.
- Customers should expect to pay more for these services starting May 1, 2025.
Impact:
- Frequent ATM users may face higher expenses.
- Alternatives like digital transactions or in-branch services could become more attractive to avoid fees.