ATM Cash Transaction: UPI has definitely limited the use of ATM, but people still need to withdraw cash from ATM for many tasks.
If you also use cash more than digital transactions and often go to ATM to withdraw money, then this news is for you. In the coming days, it may become a little expensive for you to withdraw money from another bank. The country’s ATM operators are demanding to increase the interchange fee charged on cash withdrawal. Let us tell you that ATM holders can withdraw cash from any bank’s ATM, but different banks have fixed the limit of free transactions from another bank’s ATM.
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This is the demand of ATM operators
The Confederation of ATM Industry is demanding interchange fees between Rs 17 and Rs 23. This demand of the ATM industry body is from the Reserve Bank and the Finance Ministry. Let us tell you that ATM interchange is the fee which is paid by the card issuing bank (issuer) to the bank where the card is used to withdraw cash.
In the year 2021, the fees were increased from 15 to 21 rupees
Let us tell you that this fee is charged on 3 Non Bank ATM Withdrawals in metro cities and 5 Non Bank ATM Withdrawals in non-metro cities. In the year 2021, this fee was increased from 15 to 21 rupees. If this demand of the operators is agreed upon, then in the coming days you may have to pay more fees to use the ATM of any other bank other than your bank.
