ATM cash withdrawal is going to cost you more after you exhaust your five free transactions monthly. As per the RBI notification from January 1, 2022, cash withdrawal fee through debit card or credit card of any public or private sector bank will now cost Rs 21 per transaction.
Previously the customer paid Rs 20 per transaction once the free limit was exhausted so though effectively it seems like a minor hike of just Rs 1 it will also add on a tax under the goods and services tax (GST) regime.
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One must remember that even beyond 5 free transactions at your own bank, as per the RBI guidelines, the bank customers can do three free transactions in metro centres and five transactions in non-metro centres from other banks as well.