The relaxation on ATM withdrawal given to customers by the banks for three months has ended on June 30 and it has not been extended further. As there is no further relaxation given, State Bank of India (SBI) has revised its ATM withdrawal rules.
In the last three months, SBI waived service charges for all ATM transactions made on SBI ATMs, as well as other bank ATMs, on exceeding free number of transactions. This decision was taken after Finance Minister Nirmala Sithraman's announcement on March 24.
Also read: ATM cash withdrawal rules: Current relaxations may go from July 1
SBI new ATM withdrawal rules - All you need to know
- SBI will give eight free transactions, including five transactions at SBI ATMs and three transactions at other bank ATMs in six metro centres (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad) to account holders with up to Rs 25,000 Average Monthly Balance in their savings bank account.
- SBI account holders with Average Monthly Balance above Rs 25,000 and up to 50,000 will get 8 free transactions at other bank ATMs ( 3 in metros, 5 non-metros).
- An unlimited transaction at State Bank Group (SBG) ATMs will be allowed by SBI to its customers maintaining an average balance of more than Rs 25,000 in their savings accounts.
- Customers maintaining an average balance of above Rs 50,000 and up to Rs 1,00,000 in their savings account will get eight free transactions at other bank ATMs (three in metros, five non-metros).
Also read: Unlock 2.0: Banks will charge for these services from July 1
- Maintaining an average balance of more than Rs 1,00,000 in the savings account, then that customers will get unlimited transactions at SBG ATMs as well as other banks ATMs.
- For any additional financial transactions beyond the set limit, SBI will levy a fee ranging from Rs 10 plus GST to Rs 20 plus GST.
- For any additional non- financial transactions beyond the set limit, SBI will charge a fee ranging from Rs 5 plus GST to Rs 8 plus GST.
- For transaction decline due to insufficient balance, the bank will charge a fee of Rs 20 plus GST.
- SBI will allow one way interchangeability for branch transactions on ATM transactions. It means a customer will be allowed a maximum of 10 free debit transactions at 6 Metro centres at SBI ATMs and maximum 12 free debit transactions at other centre ATMs (If no transaction at other Bank ATM and no transaction at the branch).
- SBI will offer free unlimited transactions at SBG ATMs and other bank ATMs for all salary accounts at all locations.
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