New Delhi, Business Desk. Withdrawal of ATMs from July 1 is going to be expensive for SBI customers. Concession on account withdrawals from ATMs of the country’s largest bank will be closed from July 1. SBI has made all ATM transactions free at this time. The bank has waived the charges for its account holders not only from their ATMs, but also on transactions from other banks’ ATMs. The bank took the decision in view of the corona virus epidemic and lockdown.
The bank was announced to waive ATM transaction fees during the months of April, May and June in the wake of Corona virus epidemic. It was announced on 24 March by the Finance Minister that customers would not be charged for three months for withdrawal from any other bank’s ATM. Subsequently, SBI waived the charges on transactions from ATMs.
SBI had said in a statement, “In view of the announcement made by the Finance Minister on 24 March, SBI has decided that even after the number of free transactions from SBI ATMs and other banks’ ATMs is exceeded for ATM transactions till June 30 No fee will be charged. ‘
Even till the end of June, no announcement has been made to extend this benefit to the bank account holders. This means that service charges on ATM transactions will be waived only till June 30 and from July 1, SBI customers will have to pay service charges if there are more free ATM transactions.
In this way, from now on Wednesday, July 1, the old charges levied on ATM transactions will be restored. SBI provides eight free transactions to bank customers with regular savings bank accounts. Five of these transactions are for ATMs of SBI and three for ATMs of other banks. At the same time, SBI customers in small cities can make 10 ATM transactions free. Of these, five transactions are for ATMs of SBI and five other banks.
In addition to these free ATM transactions, SBI customers have to pay Rs 20 + GST on every cash transaction and Rs 8 + GST on non-cash transactions in case of ATM transactions.