Axis Bank: This big bank has increased ATM transaction charges, when is this new rule being implemented?

If you are a customer of Axis Bank, then this news is important for you. The bank has changed the ATM transaction charge for savings and trust accounts. These changes will come into effect from July 1, 2025, and include customers of NRI, Trust Accounts, Priority, and Burgundy segments.

Now if you withdraw money or check balance from an ATM more than the free transaction limit, then you will have to pay more charges. Till now this charge is ₹ 21 per transaction, which will become ₹ 23 per transaction from July 1, 2025. After the free transaction limit is exceeded, these charges will also apply to ATMs of Axis Bank and other banks. Apart from this, you will have to pay tax separately.

What does the RBI rule say?

RBI issued a notification on 28 March 2025 saying that ATM interchange fees will be decided by ATM networks. A maximum of ₹ 23 per transaction can be charged to a customer after free transactions. This rule has come into effect from 1 May 2025. Now keeping in mind the same notification, the bank has increased the charge.

What is an ATM interchange fee?

When you use the ATM of another bank instead of your bank, then your bank has to pay a fee to that bank. Many banks charge this fee from the customer. For example, if you are a customer of HDFC Bank and withdraw money from SBI ATM, then the transaction is free 3 times a month in metro cities. At the same time, from the fourth time you will have to pay a charge of ₹ 23 for every financial transaction.

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