Usage of Automated Teller Machines / Cash Recycler Machines – Review of Interchange Fee and Customer Charges

Last updated: 11 June 2021

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The Reserve Bank of India has reviewed ATM charges and fees, with the last revision occurring in 2012 and 2014. To account for increased deployment and maintenance costs, interchange fees for financial transactions will rise from ₹15 to ₹17, and for non-financial transactions from ₹5 to ₹6, effective August 1, 2021. Customer charges for transactions beyond the free limit will increase to ₹21 per transaction from January 1, 2022.

Reserve Bank of India RBI/2021-22/52 DPSS.CO.OD.No.S-182/06.07.011/2021-22 June 10, 2021 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks

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FAQ :

The notification is to inform about the review of interchange fees and customer charges for Automated Teller Machines (ATMs) and Cash Recycler Machines.

The interchange fee structure for ATM transactions was last changed in August 2012, and customer charges were last revised in August 2014.

The interchange fee per transaction will increase to ₹17 for financial transactions and ₹6 for non-financial transactions, effective August 1, 2021.

Customers are eligible for five free transactions (financial and non-financial) from their own bank's ATMs. They are also entitled to three free transactions in metro centres and five in non-metro centres from other bank ATMs.

Beyond the free transactions, customers can be charged up to ₹21 per transaction, effective January 1, 2022.

Yes, these instructions apply to transactions done at Cash Recycler Machines, except for cash deposit transactions.

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Notification No : RBI/2021-22/52 DPSS.CO.OD.No.S-182/06.07.011/2021-22
Published in Community & General
Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12111&Mode=0

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