The RBI notified the changes of January 1, 2022, citing the growing cost of the deployment and automatic cash expenses for the maintenance of ATMs engaged by banks or white wicket operators.
Automated cashier machines (ATMs) between banks are all to increase service charge by transaction from Saturday, following a prescription from the Reserve Bank of India (RBI) and customers will have more more Beyond free authorized transactions for money and non-cereals.
In accordance with the RBI notification dated June 10, 2021, as of January 1, 2022, the banks were allowed to charge ₹ 21 €, instead of 20 € with the applicable taxes, if any, are also payable.
However, customers are eligible for five free transactions (financial and non-financial transactions) every month from their own ATMs.
They are also eligible for free transactions (including financial and non-financial transactions) other ATMs from the VIZ bank. Three transactions in metro centers and five transactions in non-metropolitan centers.
The last modification of the exchange fee structure for ATM transactions was carried out in August 2012, while customers payable by clients were revised in August 2014.
The RBI notified the changes of January 1, 2022, citing the growing cost of the deployment and automatic cash expenses for the maintenance of ATMs engaged by banks or white wicket operators.
Ashwani Rana, founder of the Bank’s voice stated: “The increase in service charges per ATM transaction will be invoiced by clients beyond several transactions permitted by the respective banks. This increase is only 1 € plus the tax of goods and services (GST), which is very nominal to customers against the maintenance costs paid by the banks as previously, they charge 20 €. “
Nipun Jain, Chief Executive Officer, Rapipay Fintech clarified, “Consumers withdrawn in cash using our ATMs and our payment system activated by Aadhaar (AEPS) will not be affected by the RBI Guideline Recent to increase ATM transaction fees (applicable after the depletion of customers. “
“We believe that this will strengthen the already growing demand for cash withdrawal through AEPS and ATMs in our direct outlets and help us achieve our growing financial inclusion goal in deeper geographies. and distant areas such as northeast, cashmere, Ladakh, and Uttrakhand. We sold above a lakh’s automatic micro-window since we started its operations last year. Our average height of the withdrawal ticket climbed from € 3800 to € 3,800, with a 25% CAG growth in Micro ATMS microsts over the last year, “Jain added.