Banks charge a fee for withdrawing money from an ATM after a limit set by the bank.
Indian banks generally provide their customers with the facility to make a limited number of free ATM transactions every month. Banks charge a fee for withdrawing money from an ATM after a limit set by the bank. India’s largest bank.. State Bank of India also charges these charges (SBI ATM transaction charges). SBI charges vary depending on the nature of the transaction and the city. That means the fares are different for metro and general cities. Apart from this the SBI ATM card holder has to pay higher charges for withdrawing money from any other bank ATM using SBI ATM card. However, banks also provide the facility of unlimited ATM transactions, but for this the customers have to fulfill certain conditions.
It is important for every bank account holder to know about ATM card charges. With this, the customer not only avoids unnecessary charges but also knows about the charges and avoids unnecessary arguments with the bank employees. Today we will know about SBI ATM charges in detail.
SBI ATM Free Transaction
SBI…offers unlimited free ATM Transactions to its customers at its own ATMs as well as ATMs of other banks subject to certain conditions. Average monthly balance in SBI Savings Bank account is Rs. Customers above 25,000 can do unlimited ATM transactions at SBI ATMs. However, to avail this facility at ATMs of other banks, in SBI Savings Account Rs. 1 lakh balance should be maintained.
In SBI Account Rs. Customers maintaining a monthly balance of up to ₹ 1 lakh can make transactions from other banks’ ATMs in six metro cities of the country i.e. Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad without any charges. At the same time, six transactions can be done free of charge in other cities.
A SBI Bank account holder has monthly deposits of Rs. If they maintain a balance below 25,000 they will get five free transactions in a month at SBI ATM. Those who keep more than Rs.25,000 in the account will get the facility of unlimited transactions. If an SBI account holder wants to make unlimited ATM transactions in other banks as well, he needs to maintain an average monthly balance of Rs. 1 lakh should be maintained.
After the free limit is over the fee has to be paid
Any ATM transaction done by the customer after the limit prescribed by SBI will have to pay the charges. If you use ATM of any bank other than SBI, you will have to pay Rs 20 for every financial transaction. GST is also applicable on this. Similarly, to withdraw money from an SBI ATM or do any other transaction, you have to pay Rs.10,GST on it.
