Rules regarding withdrawal of money from SBI ATM Change
SBI ATM Withdrawal Rules Changed: The bank has shocked the account holders of State Bank of India (SBI). SBI has changed the rules regarding withdrawal of money from ATMs. According to the changed rules, now the account holders will be fined for exceeding the free transaction limit.
The bank has slammed the account holders of State Bank of India (SBI). SBI has changed the rules regarding withdrawal of money from ATMs. According to the changed rules, now the account holders will be fined for exceeding the free transaction limit. Not only this, if the SBI account holder does not have a balance in the account, a penalty will also have to be paid for the failed transaction. These rules of SBI have come into force from 1 July 2020.
State Bank of India facilitates 8 times free transaction from bar ATM in metro cities. That is, if you live in Metro City, then you will not be charged any kind for withdrawing money from ATM 8 times a month, but if you withdraw more than this, you will have to pay a fine.
According to the ATM Withdrawal Rules, the account holders of SBI in metro cities can transact with SBI ATM 5 times and can use ATM of other banks 3 times. The metro cities include Mumbai, New Delhi, Chennai, Kolkata, Bangalore and Hyderabad.
Apart from this, SBI account holders in non-metro cities can do free transactions from ATMs 10 times, in this 5 times transactions can be done from SBI ATMs and ATMs of 5 other banks. After crossing this limit, the bank can charge you a GST fee of Rs 10 to Rs 20.
According to the second changed rule of SBI, if there is no money in the account of the SBI account holder, he withdraws money from the ATM in such a situation and the transaction fails, then the SBI account holder will have to pay a fine. The bank will charge 20 rupees fine and GST for this. That is, if there is no money in your account, you will be fined for using the ATM.
Apart from this, if you withdraw more than 10 thousand rupees from SBI ATM, then OTP will be sent on your mobile, which will be able to withdraw money only after filling it in the ATM. OTP (One Time Password) will be required to withdraw cash from SBI ATM from 8 am to 8 am. However, if you withdraw money from any other ATM, then OTP will not be required.
Good news for SBI customers
Relief number 1- SBI has provided unlimited transactions facility for savings account holders having an average balance of more than Rs 1,00,000 a month in a bank account. That is, if the amount of 1 lakh rupees remains in your account then you can do transactions at any time from ATM.
Relief number 2- According to the new rule of State Bank of India, customers will no longer have to pay any kind of charge for SMS alerts. SBI has abolished the charge of SMS alerts coming from the account holders’ account to the registered mobile number.
