Kotak Mahindra Bank Hikes ATM Withdrawal Charges Effective May 2025

Starting May 1, 2025, Kotak Mahindra Bank will implement new charges for ATM transactions. This move aligns with the updated guidelines issued by the Reserve Bank of India (RBI). The revised charges will apply once customers exceed their allocated free ATM transaction limits, regardless of whether they use Kotak’s ATMs or those of other banks.

Revised ATM Transaction Charges: What’s Changing?

Under the new structure, the fee for financial transactions at ATMs will increase from Rs 21 to Rs 23 per transaction. Meanwhile, non-financial ATM services—such as checking account balances or printing mini-statements—will see a fee rise from Rs 8.50 to Rs 10. These adjustments will affect all Kotak Mahindra Bank account holders, without exception, although the existing number of free transactions per month remains unchanged.

Customer Notification and Implementation

Kotak Mahindra Bank has started notifying customers about the upcoming changes through email communication. The bank emphasized that while fees are increasing, the monthly cap on free ATM transactions as per the customer’s account type will remain in effect.

Types of ATM Transactions Explained

ATM transactions are typically categorized into two types:

• Financial Transactions: These include cash withdrawals, deposits, bill payments, and fund transfers.

• Non-Financial Transactions: These cover services such as balance inquiries, PIN changes, mini statements, and cheque book requests.

Both categories will be impacted by the fee hike once customers go beyond their permitted monthly free usage.

Daily Withdrawal Limits by Account Type

Withdrawal limits at Kotak ATMs depend on the type of account held by the customer:

• Kotak Edge, Pro, and Ace Accounts: Up to Rs 1,00,000 per day

• Easy Pay Accounts: Up to Rs 25,000 per day

Additionally, specific debit cards linked to these accounts may allow daily withdrawals of up to Rs 50,000 at ATMs within India.

How to Check Your ATM Transaction Limits

Customers unsure of their daily or monthly ATM limits can refer to the bank’s terms and conditions or reach out to Kotak Mahindra’s customer support. The bank’s official website, internet banking portal, and mobile app also provide up-to-date account and transaction details.

What is an ATM and Why It Matters

An Automated Teller Machine (ATM) is a self-service electronic terminal that allows users to perform a variety of banking operations without visiting a branch. Common uses include cash withdrawals, deposits, balance checks, and more—making ATMs essential for round-the-clock banking convenience.

Free ATM Transactions: What Still Applies

Despite the upcoming fee adjustments, Kotak Mahindra Bank customers will still receive a fixed number of free ATM transactions each month, depending on their specific account type. These free transactions help minimize banking costs for regular users.

Conclusion: Stay Informed to Avoid Extra Charges

With the implementation of higher ATM transaction fees from May 1, 2025, Kotak Mahindra Bank customers should review their usage patterns to avoid unexpected charges. Understanding transaction limits, fee structures, and utilizing digital banking tools can help in optimizing financial activities while minimizing additional costs.