With ATM withdrawals set to get costlier, reduce dependence on cash

Beware of keypad manipulation and heat mapping while using the ATM or PoS machine

Come January 1 and bank customers will have to cough up more for cash withdrawals from automated teller machines (ATMs). The cap on ATM transaction fees imposed by the Reserve Bank of India (RBI) was last revised in August 2014.

Gaurav Aggarwal, senior director, PaisaBazaar, says, “There has been a substantial increase in the cost of deploying and operating ATMs since the last revision. Hence, the RBI has increased the upper limit on the fee that banks and white-label ATM operators can charge on transactions by Rs 1 to Rs 21 per transaction from January 1, 2022.”  

Higher charges on exceeding free