SBI ATM Charges: An important update has come out for the customers of State Bank of India. After exhausting the free monthly transaction limit given by the bank, now customers will have to pay additional charges on every transaction. This change will especially affect those customers who use ATMs of other banks after exceeding the free limit.
According to the new rules, if SBI’s free limit is exhausted and the customer withdraws cash from any other bank’s ATM, he will have to pay a fee of Rs 23 (including GST) every time. Additionally, a charge of Rs 11 per transaction will be levied for checking balance or withdrawing mini statement after the limit is reached. This may put additional burden on the pockets of customers who frequently use ATM services.
However, this change in SBI ATM Charges will not affect all account holders. The rules for Basic Savings Bank Deposit (BSBD) account and Kisan Credit Card (KCC) holders will remain the same as before. That means these account holders will not have to pay any additional fees. Along with this, debit card customers using SBI’s own ATMs have also been given relief from these changes.
The bank has clarified that the decision to increase transaction charges has been taken due to the increase in interchange fees. It is a matter of relief that savings account holders will continue to get the facility of 5 free transactions every month at ATMs of other banks as before.