ATM transactions to cost more from tomorrow

KOCHI: Starting tomorrow, the Reserve Bank has granted permission to commercial banks to reduce the number of free ATM transactions and increase the fee for additional transactions. Banks have clarified that only three free transactions will be allowed in metro cities and five in other areas. For transactions beyond this limit, the fee has been increased from Rs 21 to Rs 23. In addition to this, the customer must also pay applicable taxes. Services ranging from cash withdrawals to balance inquiries will be counted as transactions for which the fee will be charged.