State Bank of India or SBI has come the country’s largest lender out with details on its website regarding revision of service charges from 1st October. The bank allows 8-10 times free transactions to its customers at ATMs in a month. Over and above these mandated number of free transactions, SBI charges a certain amount to its customers. Effective 1st October, SBI will also charge for transaction decline due to insufficient balance and cardless cash withdrawal at ATMs.
SBI Customers needs to know some Important about SBI ATM withdrawal charges:
1) Regular savings bank account- Eight free transactions (including five transactions at SBI ATMs and three transactions at other bank ATMs ). There are 10 free transactions to such account holders in non-metro cities,
2) SBI charges – ₹5 plus GST to ₹20 plus GST (for any additional transactions beyond this limit)
3) From 1st October – SBI will charge ₹20 plus GST for transaction decline due insufficient balance
4) SBI will also charge ₹22 plus GST for cardless cash withdrawal at ATMs.
5) Its only a good benifit for all salary accounts at all locations, SBI offers free unlimited transactions at State Bank Group (SBG )ATMs and other bank ATMs.
However, maintaining a certain minimum balance in your account, you can do unlimited transactions at SBI ATMs and even at other bank ATMs if you are maintaining a certain minimum balance in your account. Currently bank allows unlimited free transactions at State Bank of India Group (SBG) ATMs to its customers who have maintained a monthly average balance above ₹25,000 in their savings bank account in the previous month.