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Customers May Take a Hit as ATM Operators Demand Higher Charges
April 24, 2018
ATM operators are seeking higher “interchange rates” to make up for increased costs under new RBI norms, which means that the customers may have to pay higher for using the ATM services.
At present, banks are charging Rs. 15 for cash transactions and Rs. 5 non-cash transactions from each other for customers of other banks using their ATMs. However, the Confederation of ATM Industry (CATMi) is now demanding that the rates should be increased by at least Rs. 3 to Rs. 5 per transaction in light of the new RBI norms that have increased their financial burden.
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