State Bank of India customers may notice a bunch of changes in certain charges involved in cash withdrawals from next month onwards. The State Bank of India (SBI), which is the largest commercial bank in the country, is set to introduce changes to charges for ATM cash withdrawal, cash withdrawal from the branch and chequebook from July 1, 2021.
Basic Bank Deposit (BSBD) account holders will now only get four free cash withdrawal transactions. This would include both withdrawals from ATM as well as from SBI branches. Beyond four withdrawals, BSBD account holders will be charged. Account-holders will also be charged beyond the use of the first 10 cheque leaves for cash withdrawals from July 1 onwards.
SBI cash withdrawal from ATM and Branch
As mentioned SBI has now limited the number of free cash withdrawal transactions from ATM and branches. Account-holders will now only get four free cash withdrawals transactions at ATMs and SBI branches. Beyond this number, they will be charged Rs 15 plus GST (Goods and Services Tax) for each cash withdrawal at an SBI branch or ATM. The same chargers will also apply if SBI customers withdraw cash from ATMs of banks other than the State Bank of India. These rates will come into effect from July 1, 2021, onwards.
SBI Cheque Book Charges
State Bank of India has decided to limit free cheque leaf usages for its BSBD account holders. According to the changes listed out by SBI, from July 1 onwards, BSBD account holders are only allowed to use the first 10 cheque leaves without any charges being levied for the withdrawal transactions. Beyond this number, they will be charged as per the following matrix:
Senior citizens should note that they are exempted from the cheque book use limit.
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