The Reserve Bank of India has hiked the interchange fee per transaction from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions in all centres, effective August 1, 2021.
The card issuing bank pays an interchange fee to the operator of the ATM when a customer makes a transaction at an ATM that does not belong to the card issuing bank. Currently, the card issuing bank pays an interchange fee of Rs 15 for each cash transaction and Rs 5 for each non-cash transaction.
