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All you need to know about SBI New ATM, Cash Transactions Charges

Just a few days back, SBI bank revised the service charges on ATM cash transactions which will be effective from 1st June 2017. Here is all you need to know about it and how will it affect your lives: There was a lot of confusion regarding these service charges. I personally thought that may be SBI has now more than enough customers and they no more care about the needs of the customers. But this was just a confusion. Here we have all the clarifications required.
 
The clarification was given by bank spokesperson that Rupees 25 will be charged only if we withdraw money from ATM through SBI’s “State bank Buddy”. Apart from that, for a normal savings account, there will be 8 free normal transactions which includes 5 from SBI’s ATM and 3 from other banks in metro cities. For Non Metro cities, there will be 10 free normal transactions which includes 5 from SBI’s ATM and 5 from other banks. You can now breathe a sigh of relief. Just have a look at the major changes:

1) Cheque Books: Effective from 1 June, if you need a 10 leaf Cheque book for a  basic savings bank deposit, then you will be charged rupees 30 plus extra service charge. Similarly for 25 leaf Cheque book you need to pay rupees 75 plus service tax and for 50 leaf Cheque book, rupees 150 plus service tax.

2) Online Transfers: If you are transferring money up to 1 lakh online via IMPS, now you need to pay rupees 5 plus service tax and for above 1 lakh and less than 2 lakhs, you need to pay rupees 115 plus service tax. Again if you are transferring money more than 2 lakhs and up to 5 lakhs then you need to pay rupees 25 plus service tax.

3) Exchange of Soiled Notes: If you going to SBI bank to exchange spoiled notes, you need to pay 2 rupees for each note in case you are exchanging more than 20 notes or the values of notes is greater than rupees 5000 plus service charge.

4) Charges on ATM Cards: Now even if you need a new debit card, that will also be chargeable effective from 1st June 2017. Except for Rupay classic card, you need to pay for every other card.
So this is all you need to know about the new service charges for SBI Bank customers. Now you don’t need to be surprised while the Bank employee asks you to pay service charge.
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