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SBI ATM transaction rules changed from July 1: Check account limits, charges, other details

BusinessToday.In     July 2, 2020

The country's largest lender State Bank of India (SBI) has reinstated its old ATM withdrawal limit and transaction fee from July 1. This is because the 3-month rebate announced by the Finance Minister expired on June 30.

During the lockdown, Finance Minister Nirmala Sitharaman informed that debit cardholders could withdraw money free of charge for three months - April, May and June. Hence, July onward, ATM transactions for SBI customers is going to be slightly expensive.

Here are SBI's new ATM withdrawal limits and charges:

1. SBI account holders will now be able to do only eight free transactions--5 transactions at SBI ATMs and 3 transactions at other bank ATMs. This rule is applicable for people living in these metro cities (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad). In non-metro areas, SBI account holders will get 10 free transaction - 5 at SBI ATMS, and 5 at others.

2. SBI will charge a fee ranging from Rs 10 plus GST to Rs 20 plus GST for any additional financial transactions.

3. For any additional non- inancial transactions, the Bank will charge a fee ranging from Rs 5 plus GST to Rs 8 plus GST.

4. And in situation like 'transaction decline due to insufficient balance,' SBI will charge a fee of Rs 20 plus GST.

5.  For all salary accounts at all locations, SBI will offer free unlimited transactions at SBG ATMs and other bank ATMs.

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