Kotak Mahindra Bank hikes ATM transaction charges from May 1, 2025: Check the new fee, maximum free ATM transactions

Kotak Mahindra Bank has announced a revision in the ATM (Automated Teller Machine) transaction fees for both its own bank ATM and other bank ATM usage. The revision in ATM transactions charges has come after the recent regulatory guidelines issued by the Reserve Bank of India (RBI). The central bank announced that customers will be charged a fee of Rs 23 per transaction for ATM banking services from May 1, 2025. Earlier, the RBI set this amount at Rs 21 per transaction.

The bank has communicated the hike in ATM transaction charges via email to its customers.

New ATM transaction fees from May 1, 2025

Effective May 1, 2025, all financial and non-financial transactions performed at ATMs -whether at Kotak Mahindra Bank's machines or those of other banks-will incur revised fees once you exceed your free ATM transaction limits. These updates apply uniformly across account variants and customer segments, although existing free limit benefits will remain unchanged.

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Revised ATM transaction fees

Transaction Type Existing Fee (per transaction) Revised Fee (per transaction)
Financial Transactions Rs 21 Rs 23
Non-Financial Transactions (e.g., balance inquiry, mini statement) Rs 8.50 Rs 10

Free ATM transaction limits at Kotak Mahindra Bank

It is important to note that the increased ATM charges will be applicable if the bank's customer exhaust his/her free ATM transactions limit in a month.

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According to the bank's email, if your bank account variant or banking program currently offers a certain number of free ATM transactions per month (e.g., 5 free withdrawals at other bank ATMs), those benefits will continue to apply. Only those ATM transactions that are beyond the bank accounts' free limits will attract the revised charges.

Difference between financial and non-financial ATM transactions

Financial transactions at an ATM primarily involve accessing funds or information related to a user's bank account. These can include withdrawing cash, transferring funds, and even paying bills or making deposits.
On the other hand, non-financial ATM transactions include balance enquiries, mini statements, ATM PIN change, cheque book request, etc.

How much can one withdraw from a Kotak Mahindra Bank ATM per day?

The maximum amount that can be withdrawn from the bank's ATM per day varies depending on the type of account. For Kotak Edge, Pro, and Ace accounts, the limit is Rs 1,00,000. However, for Easy Pay accounts, the limit is Rs 25,000.

How to check withdrawal limits in a Kotak Mahindra Bank account

You can check your bank account's withdrawal limits by referring to the terms and conditions provided by Kotak Bank or by contacting customer service. Additionally, you can check your account balance and recent transactions through Kotak online banking or the mobile banking app.

Can customer withdraw Rs 50,000 from an ATM in a day?
Yes, you can withdraw Rs. 50,000 from an ATM in a day with certain debit card types, such as Kotak Edge, Kotak Pro, and Kotak Ace. However, this limit applies to transactions within India.

What is an Automated Teller Machine (ATM)?
An Automated Teller Machine is a computerised machine that allows bank customers to access their accounts, dispensing cash and carrying out other financial transactions without the need to visit a bank branch.