- The new rules initially created confusion over ATM charges
- SBI's Buddy app will charge Rs 25 on cash withdrawal through ATM
- SBI also revised service charges on various cash transactions
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.
- 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 customer 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.
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