SBI ATM withdrawal, debit card and other fees. Details here

0

SBI revised the service fees on various transactions, including the issuance of checkbooks from June 1.

National Bank of India (SBI) revised the fees for ATM withdrawals, cash transactions, checkbook issuance and online funds transfer through the immediate payment service or IMPS effective June 1. India’s largest bank SBI has clarified that customers of its State Bank Buddy mobile wallet will be charged Rs 25 for each ATM withdrawal. SBI’s app – State Bank Buddy – allows its customers to withdraw money from ATMs using the bank’s mobile wallet. However, savings accounts will continue to benefit from eight free transactions at vending machines (five at SBI vending machines and three at vending machines at other banks) in subways and 10 free transactions in non-metros (five at vending machines SBI and three at ATMs of other banks), SBI added.

The limit of four ATM withdrawals per month only applies to basic savings bank deposit accounts, SBI added. SBI’s Basic Savings Account is a limited-service bank account aimed at the poorest segments of society to encourage them to start saving without any charges or fees, according to the bank’s website. This type of bank account comes with an ATM with free debit and no annual maintenance fee. The holder of a basic savings account is not entitled to open or keep another savings account.

SBI has also revised the prices of other services for its customers, effective June 1. Here are the main changes:

Online transfer: Online funds transfer via IMPS will now be charged Rs. 5 plus service tax for amounts up to Rs. 1 lakh; Rs. 15 plus service tax for over Rs. 1 lakh and up to Rs. 2 lakh and Rs. 25 plus service tax for amounts over Rs. 2 lakh and up to Rs. 5 lakh.

Checkbook: From June 1, a customer with a basic savings bank deposit will have to pay Rs. 30 plus service charge for a 10-sheet checkbook, Rs. 75 with service charge for a 25-sheet checkbook and Rs. 150 plus service charge for a 50 sheet checkbook.

Fees on ATM cards: SBI said that the issuance of new debit cards will be billed from June 1, and only the RuPay Classic card will be issued for free.

Exchange of soiled banknotes: SBI has stated that exchanging up to 20 soiled tickets or for a value of up to Rs 5,000 will not incur any fees. However, more than 20 pieces of soiled banknotes will incur a charge of Rs. 2 per coin or Rs 5 per Rs 1,000 plus service charge, whichever is higher on the entire tender, a indicated the bank. For example, for 25 coins of Rs 500, which equals Rs 12,500, the charge will be Rs 2 per coin (Rs 50 plus service tax) or Rs 5 for Rs 1,000 (Rs 62.50 plus tax of service). The amount charged will be Rs 62.50 plus service tax.

Cash withdrawal: Customers with a basic savings bank deposit will get four free withdrawals (including ATMs) in one month, after which withdrawals will be charged – at Rs. 50 plus service fee in one month. SBI branch and at Rs 20 plus the service tax in other ATMs.

Cash transactions through correspondent banks: SBI said that cash deposits of up to Rs 10,000 (in multiples of 100) through correspondent banks will be charged at 0.25% of the value with a minimum of Rs 2 and a maximum of Rs 8 plus service tax. Cash withdrawals of up to Rs 2,000 (in multiples of 100) through the same channel will be charged at 2.50% of the transaction value (minimum of Rs 6) plus service tax.


Source link

Share.

About Author

Leave A Reply