SBI clarified on new charges on ATM and cash transactions to be effective from June 1.
India’s largest lender State Bank of India, revised service charges on
various cash transactions for its customers, effective from June 1.
Announced in a circular on the SBI website on Thursday morning, the
revisions initially created confusion among customers over news that all
cash withdrawals through ATM will now be charged at Rs. 25 per
transaction. The bank later clarified that the Rs. 25 charge will be
levied only on withdrawing money from an ATM through SBI’s mobile wallet
app “State Bank Buddy.”
In an emailed statement to NDTV Profit, an SBI spokesperson clarified
that a limit of four ATM withdrawals per month only applied to the Basic
Savings Banks deposit account. All normal Saving Bank accounts will
continue to get 8 free ATM transactions (5 SBI ATMs + 3 other bank ATMs)
in metros & 10 free transactions in non-metros (5 SBI ATM + 5 Other
Bank ATMs) free, the clarification added. Apart from ATM charges, SBI
also revised service charges on various cash transactions for its
customers. Here are some of the other key changes. Online Transfers:
Online fund transfer through IMPS will now be charged Rs. 5 plus service
tax for amounts of up to Rs. 1 lakh, Rs. 15 plus service tax for above
Rs. 1 lakh and up to Rs. 2 lakh and Rs. 25 plus service tax for above
Rs. 2 lakh and up to Rs. 5 lakh.Exchange of Soiled Notes: Going forward
SBI said it will charge 2 rupees for every soiled note on exchange of
more than 20 notes or if the total value of exchanged notes is above Rs.
5,000 plus service tax. Cheque Books: From June 1, a customers with a
Basic Savings Bank Deposit will have to pay Rs. 30 plus service tax for
a 10 leaf cheque book, Rs. 75 with service tax for 25 leaf cheque book
and Rs. 150 plus service tax for a 50 leaf cheque book. Charges on
ATM Cards: SBI said that issue of new debit cards will be charged from
June 1 and only Rupay classic card will be issued for free. Cash
Withdrawals: Customers with a Basic Savings Bank Deposit will get four
free withdrawals (including ATM) in a month, after which withdrawals
will be charged at Rs. 50 plus service tax at an SBI branch and at Rs.
20 plus service tax at other bank ATMS. //source:cbcinews.com//
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