Now your own money will incur a Rs. 23 charge and GST on top. From May 1st, 2025, ATM withdrawals will get pricier, to be exact up to Rs. 21 earlier.
So, how many free withdrawals do you get?
You will be getting free withdrawals up to 5 from your own bank's ATM, state-run or private, 3 from other ATMs in metro cities, 5 from other ATMs outside metros. After that, it's all going to be pay per swipe.
But why are we being charged at all?
Because there's a whole system working behind the scenes in which, Cash needs to be transported securely, ATMs require maintenance, software updates, and 24x7 surveillance. That convenience will come with a price tag, right?
ATM usage may be falling from Rs. 57 crore in January 2023 to Rs. 48.8 crore in January 2025. But cash still powers a large part of India's economy. This fee hike will hit smaller bank customers hardest as they depend on larger ATM networks to access their money. And slowly, it might nudge more people toward digital banking, which is faster, easier, and often cheaper.
Tell us how you prefer to pay, cash or digital, and share this before someone you know gets surprised at the ATM with the brand new charges.