SBI clarifies: Rs 25 per ATM charge only for State Bank Buddy Customers; see other changes

A day after revising the service charge on various cash transaction, State Bank of India (SBI) on Thursday clarified that these charges are applicable only for State Bank Buddy Customers.

On Wednesday, the bank had said that the customers will be charged Rs 25 per transaction on every cash withdrawal from ATMs. The bank will also charge on issue of ATM cards except RuPay, henceforth.

Clarifying to it, the bank today said that, "Cash out at ATM: The transaction is cash withdrawal from State Bank Buddy using ATM. Rs 25 per transaction is charged for withdrawing from State Bank Buddy through ATMs. Charges are applicable only for State Bank Buddy using ATM (This is applicable only for State Bank Buddy Customer)."

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Apart from the clarification, the bank announced two more changes in the withdrawal process:

1. Limit of four ATM withdrawals in a month only applies to the Basic Savings Banks deposit account. 

2. All Normal Saving Bank accounts will continue to get eight free ATM transactions (5 SBI ATMs + 3 other bank ATMs) in Metros & 10 free transactions in Non Metro (SBI ATM + 5 Other Bank ATMs) free apart from the bank transaction.

According to yesterday's statement by the bank here were the important announcement:

1. Anyone making upto Rs 1 lakh transfer on IMPS will be charged with Rs 5 per transaction plus service tax. 

2. Between Rs 1 lakh – Rs 2 lakh and Rs 2 lakh – Rs 5 lakh, service charges are at Rs 15 and Rs 25 each plus service tax.

3. For solid or imperfect notes, up to 20 piece and Rs 5,000 no charges will be levied but more than 20 piece and Rs 5,000 will see charges of Rs 2 per piece and Rs 5 per 1000 plus service tax.

4. On Basic Savings Bank Deposit (BSBD) account, no charged will be levied for four withdrawals, more than that Rs 50 plus service tax will be charged at any SBI branch, while at any other bank Rs 20 plus tax.

5. On ATMs, cash withdrawal from savings account will be charged with Rs 10 per transaction plus service tax.

These new revision in service charge will be in effect from June 1, 2017.