SBI, PNB bank ATM customers alert! Public Sector Banks waive-off these service charges during Coronavirus lockdown

Two leading public sector banks — State Bank of India (SBI) and Punjab National Bank (PNB) — have announced relief for the customers during Coronavirus lockdown. SBI has waived-off the ATM money withdrawal limit till 30th June 2020. Now, SBI card holders can undertake ATM withdrawals till 30th June 2020 without having to pay fee. Similarly, PNB has waived-off PNB IMPS charges for its customers. Both the banks took this decision to provide relief to its customers during the Covid-19 lockdown.

SBI has allowed unlimited use not of its own ATMs but also other bank ATMs. From now, there will be no additional charge on SBI ATM use for fishing out money from either SBI ATM or from any other Bank ATM after a certain limit. However, this unlimited SBI card ATM withdrawal is allowed till 30th June 2020 only. From 1st July 2020, SBI customers in Tier-1 cities will be allowed three free withdrawals while in other urban and rural cities, SBI card ATM withdrawal limit will be 5 only. SBI has already waived-off SBI minimum balance limit for its customers during lockdown.

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Following in the footsteps of SBI, PNB also announced that it has waived-off the PNB IMPS (Immediate Payment Service) charge. The Punjab National Bank informed about the decision from its official twitter handle citing, "Good News for #PNB #Customers. PNB waives off IMPS charges for transactions performed through Internet Banking and Mobile Banking App with immediate effect." PNB customers can now transfer money through PNB IMPS up to Rs 50,000 without any charges.

See PNB tweet below on IMPS charge waiver:

Good News for #PNB #Customers. PNB waives off IMPS charges for transactions performed through Internet Banking and Mobile Banking App with immediate effect. #DigitalBanking #StayAtHome pic.twitter.com/V8uYPffkfW

— Punjab National Bank (@pnbindia) April 23, 2020

Earlier, PNB used to charge Rs 5 form  IMPS charges from its customers that used to cut from the savings or other PNB account of its customers.