SBI ATM Transaction: All you need to know about new rules and charges

New Delhi : The State Bank of India (SBI) have formulated New rules From 1 April 2017 after a gap of five years. The management authorities of State Bank of India will also charge a penalty on non-maintenance of minimum balance on accounts. SBI implemented the changes range from minimum balance limit, ATM transaction charges, newer service charges,locker prices and more according to Zee News.

According to Deccan Chronicle, The State Bank of India has become a world class bank after merger with — State Bank of Jaipur and Bikaner, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore — and has added to its total asset value that now stands at Rs 37 lakh crore.

HDFC cash transaction charges: All you need to kbow about revision of fees and charges

Here is a Full Details about SBI ATM transaction charges which is effective from April 1, 2017.

$ Namely, Mumbai, New Delhi, Chennai, Kolkata, Bangalore and Hyderabad

@This charge will not be applicable to small/no frill/Basic Savings Bank Deposit Account holders. These customers will continue to get 5 free transactions, irrespective of the centre, as hitherto.

# While so far staff exempted from these charges, we propose to give powers to controllers not below the rank of Scale V to approve refund in exceptional cases.

*** S.I. fed through INB/Mobile Banking are excluded from this limit.

 One way inter-changeability allowed between branch transaction and ATM transaction.

It means a customer will be allowed maximum 10 free transactions at 6 Metro centres at our Group ATMs and maximum 12 free transactions at Other Centres at our Group ATMs (if no transaction at other Bank ATM and no transaction at the branch).

For More Information about SBI ATM transaction charges

No restriction for CSP accounts on Number of Transactions at Branch and own ATMs/ INB/ Mobile Banking

Source: State Bank of India (Service Charges applicable W.E.F. 01/04/2017)