SBI (State Bank of India) has changed the charges on ATM from June 1 and removing charges on many other online transactions. SBI has also changed the ATM’s charges to its ‘SBI Mobile Buddy’ app users, and you need to know them.
While the government is trying to promote people for online transactions and cashless economy, at the same time, charging SBI’s online and ATM transactions can reverse the impact.
SBI Charges For ATM Withdrawal And Cheque Books
New charges of ATM, from Thursday onwards, after withdrawing money from ATM via SBI’s mobile wallet app, you will have to pay 25 rupees for each transaction. Users of SBI’s mobile app can do cardless ATM transactions.
Apart from this, SBI has already charged charging for more than 4 times the cash withdrawal on its branches and ATMs. This charge is levied on SBI’s Basic Savings Deposit Account (BSBDA) account holders. BSBDA is Zero Balance Savings Account which gives customers basic functionality like ATM Card, Monthly Statement, and Checkbook. At the same time, tell you that customers do not have to pay any maintenance charge for (BSBDA) accounts.
Regular savings bank account holders will continue to receive 8 free ATM transactio
ns (5 and 3 second bank ATMs at SBI ATMs) in metro cities as before. There will be 8 free ATM transactions in non metro cities ie small cities.
IMPS / Online Fund Transaction Charge
For SBI Online Fund Transfer, the service tax will be charged @ 5 rupees on the transaction of up to Rs. 1 lakh each on IMPS ie (Immediate Payment Service). At the same time, the service tax will be charged with Rs 15 for transactions up to Rs 1 lakh and up to Rs 2 lakh, with service tax of Rs 2 lakh and Rs 25 lakh on a transaction of Rs 25 lakh.
Charges will also seen on the new check book
From today, Basic Saving Deposit Account customers of SBI will have to pay a service tax of Rs. 30 for the new 10 cheques cheque book and Rs. 75 plus service tax for the 25 cheque cheque book. At the same time, the cheque book for the 50 checks will have to pay service tax of Rs 150.
At the same time, if a customer in SBI has more than 20 notes of rupees or over 5,000 rupees for mutilated notes, then he has to pay 2 rupees plus service charge on every note.