Atm Customers will have to pay a charge of Rs 23 to withdraw cash from. Axis Bank of the private sector is going to increase the fees for ATS transaction. The bank has announced an update in its tariff structure for savings accounts as well as trust accounts. Under the update, this private bank is increasing the fees for ATM transactions for both the free limit for both Axis and Non-Axis ATM.
From which date new fees will be implemented
This change of Axis Bank will affect savings accounts, NRI accounts and trust accounts and some priority and customers of the Burgundy segment. The bank said that the new fee for ATM transactions will be applicable from July 1, 2025. Let us tell you that on March 28, 2025, RBI issued a notification saying that ATM interchange fees will be decided by ATM network. The RBI had said in the notification, “After the free transaction limit is over, a maximum fee of Rs 23 can be recovered from the customer on each transaction.” It will be effective from May 1, 2025. If any tax is applied to the transaction, it will be paid separately. These instructions will also apply to transactions done on cash recycler machines (in addition to cash deposits), along with changes to be made according to the need. ”
How much charge now
Let us tell you that Axis Bank currently takes a charge of Rs 21 on each transaction after the free limit is over. However, after the change is implemented from July 1, a fee of Rs 23 will be recovered on each transaction. That is, this private bank will also increase the fee of Rs 2 on each transaction after the free limit on ATM transactions according to the RBI rules, so that customers will have to pay Rs 23.
How many transactions can you do in free limit
According to the rules, if you are using another bank’s ATM, then you can do a maximum of 3 free transactions in the metro city and a maximum of 5 free transactions in non-Metro City. If you are using your bank’s ATM, you can do 5 free transactions in a month. After crossing the limit of free transaction, you will have to pay a charge of Rs 23 on each transaction.
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