ATM Charge is going to be expensive in coming days. At the moment, if we transact 3 to 4 times, we do not have to pay any extra charge. But in the coming time, this may change completely.
Reserve Bank of India has instructed all the banks to upgrade the old system running in the ATM. After this new order, the Confederation of ATM Industry has asked the Reserve Bank of India to make changes in their fee structure. To upgrade ATM, the expenditure of the ATM industry will increase by 25%. At the same time, the ATM industry already hit by several losses.
In fact, Bank also has the responsibility to upgrade the ATM. Therefore, if the RBI does not raise the cost of reconfiguring the ATM, then the bank will recover these expenses from the customers. This is the reason why transaction charge of ATM can be increased in the coming time.