New Delhi : ATM transactions that are not within the free limits will cost more from January. Reserve Bank of India has given permission to increase the fees of such ATM transactions.

From January 2022, each transaction will be subject to Rs 21 instead of Rs 20 plus GST. The surcharge is applicable only to those transactions that are above the free transaction limit per month.

Currently, five transactions per month are allowed free of cost. This includes both financial and non-financial transactions. In Metro cities, this free limit is set to three per month. Banks have already notified consumers about the rate hike.