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Saturday , 19 January 2019
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SBI New ATM, Cash Transactions Service Charges from June 1

SBI clarified on new charges on ATM and cash transactions to be effective from June 1.

The new rules initially created confusion over ATM charges
SBI’s Buddy app will charge Rs 25 on cash withdrawal through ATM
SBI also revised service charges on various cash transactions

State Bank of India, revised service charges on various cash transactions for its customers, effective from June 1

The revisions initially created confusion among customers .The bank later clarified that the Rs 25 charge will be levied only on withdrawing money from an ATM through SBI’s mobile wallet app “State Bank Buddy.”

All normal Saving Bank accounts will continue to get 8 free ATM transactions (5 SBI ATMs + 3 other bank ATMs) in metros & 10 free transactions in non-metros (5 SBI ATM + 5 Other Bank ATMs) free, the clarification added.

Online Transfers: Online fund transfer through IMPS will now be charged Rs. 5 plus service tax for amounts of up to Rs. 1 lakh, Rs. 15 plus service tax for above Rs. 1 lakh and up to Rs. 2 lakh and Rs. 25 plus service tax for above Rs. 2 lakh and up to Rs. 5 lakh

Charges on ATM Cards: SBI said that issue of new debit cards will be charged from June 1 and only Rupay classic card will be issued for free

Cash Withdrawals: Customers with a Basic Savings Bank Deposit will get four free withdrawals (including ATM) in a month, after which withdrawals will be charged at Rs 50 plus service tax at an SBI branch and at Rs 20 plus service tax at other bank ATMS.

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