Withdrawing money from ATM will be expensive from next year, know how much the charge may increase

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The use of ATMs is going to be expensive by the year 2022. The Reserve Bank of India has ordered all banks to increase the charges on ATM transactions from the year 2022. You have got the facility to do free ATM transactions from the year 2022, if you do more ATM transactions than that, then you will have to pay more money than before.

RBI allowed banks to increase the charge-

According to the notification issued by the Reserve Bank of India, now you will have to pay more money than before for withdrawing money beyond the limit of free transactions. At present, there is a charge of ₹ 20 for withdrawing money after a free transaction, but from the year 2022, ₹ 21 will be charged. Let us tell you that this charge will be applicable on both financial and non-financial transactions.

Tax is levied on the charge-

The Reserve Bank of India has made it clear in the notification that if any tax is levied, then it will be more than before. Earlier the charge was ₹ 20 but now the charge will be ₹ 21 or even more rate can be fixed.

So many transactions are free every month-

Every month 5 free ATM transactions are given by banks. Different banks give different transactions for free. This transaction rate is different in metro cities. Now people will have to pay more money for more transactions. Charges will be increased from 2022. After the order of RBI, banks have also started preparations.

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