Is it finally time for a hike in ATM interchange fees?
5 years, 6 months ago

Is it finally time for a hike in ATM interchange fees?

Live Mint  

The Reserve Bank of India recently set up a committee to review the ATM interchange fee. V Balasubramanian, President - Merchant & Terminal Business, FSS Balasubramanian V, Confederation of ATM Industry Rate hike will add more ATMs, promote inclusion We have been pushing for a hike in interchange rate as new regulatory requirements, coupled with low interchange rates, were making it unfeasible for service providers to deploy or operate ATMs. With interchange rate hike, both banks and white-label ATM operators will deploy more ATMs. Surinder Chawla, Head, Retail Liabilities and Wealth Management, RBL Bank Surinder Chawla, RBL Bank Let banks decide how much they want to charge Financial inclusion and expansion of bank accounts across various strata of society and regions has given an impetus to ATMs and their nationwide distribution through government and private sector initiatives. Puneet Kapoor, Senior executive vice president, Kotak Mahindra Bank Puneet Kapoor, Kotak Mahindra Bank New mandates will further increase costs for operators With the ongoing implementation of guidelines issued last year by the ministry of home affairs and RBI’s circular on the mechanism of cash loading in ATMs, the cost of running ATMs is going to increase for both banks and operators.

History of this topic

ATM service charges increased from Rs 20 to Rs 21: All you need to know
3 years ago
ATM cash withdrawal fee hiked: Banks to charge Rs 21 per transaction beyond free limit
3 years, 6 months ago
Bank ATM cash withdrawal: RBI announces new guidelines on ATM transactions. Check out
5 years, 1 month ago
RBI to review ATM charges: How will it affect your money withdrawal?
5 years, 6 months ago
SBI ATM withdrawal rules: Free transactions, charges and other details
5 years, 6 months ago
RBI constitutes six-member panel to review ATM interchange fee structure
5 years, 6 months ago
Your ATMs won’t shut down, but fee likely to increase
5 years, 8 months ago

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