New Delhi: Now you will have to pay an extra charge on withdrawing more than Rs 5,000 from an ATM.
This comes in the backdrop of Reserve Bank of India (RBI) preparing to change the ATM withdrawal rule after eight years, DNA reported.
This new rule will not include free withdrawal from ATMs five times a month. You will have to pay separately, which will apply to your withdrawal when you withdraw more than Rs 5000.
This was recommended by a committee set up by the apex bank. Now the RBI will take further action on the committee’s recommendation, according to information revealed in response to an RTI application.
According to reports, customers will have to pay an additional Rs 24 for withdrawing more than Rs 5000 from an ATM.
As per the existing cash withdrawal rules from ATMs, withdrawals can be made free five times a month. If a cash withdrawal is made more than five times in a month, a fee of Rs 20 is to be paid on the sixth withdrawal. But now there is a preparation for charging more than Rs 5000 from ATM. This will be extra charge.