When we need money, we immediately rush to the ATM, but now withdrawing money from ATMs is going to become expensive. Axis Bank, a major private sector bank, has now decided to increase transaction fees.

The bank has changed the tariff structure for savings and trust accounts, so now the general public will have to pay more fees while withdrawing money from ATMs. Let’s know the details about this.

Increase in fees after RBI notification

Axis Bank has changed the tariff structure for savings and trust accounts. Under this, the ATM transaction fee will increase. Earlier, the RBI had issued a notification, in which it was instructed to charge a maximum of Rs 23 from customers on each transaction after the free transaction limit is exhausted. Accordingly, it has now been decided to increase the fees.

From which date will the new fees be applicable?

According to the information given by Axis Bank officials, ATM transaction fees will increase from July 1, 2025. So now after the free transaction limit is exhausted, customers will have to pay a fee of Rs 23 on each transaction. This will also apply to transactions made on cash recycler machines (other than cash deposits). Therefore, the common man will be affected.

What is the current fee?

Axis Bank customers can currently withdraw money from ATMs 3 times in a month in metro cities. Also, customers in non-metro cities can make a maximum of 5 free transactions. However, Axis Bank charges a fee of Rs 21 on each transaction after the free limit is exhausted, but after this change is implemented from July 1, the bank will charge a fee of Rs 23 on each transaction. This increase will be made as per RBI rules. Due to this, customers will be financially affected.

‘These’ banks also charge additional fees

Apart from Axis Bank, HDFC Bank and SBI also charge transaction fees. HDFC Bank charges Rs 23 and other taxes on every transaction after the limit is reached. SBI offers a special facility to its customers. This bank offers a discount on ATM charges to customers who have a higher average balance in their account during a month.