SBI changes cash withdrawal rules for ATMs; to charge customers for failed ATM transactions

New Delhi: State Bank of India (SBI) on Friday revised its ATM cash withdrawal rules in view of safety of its customers. According to the new norms, the bank will charge its cardholders each time a transaction fails due to insufficient funds. According to the SBI website, the fee for a failed transaction would be Rs 20 plus GST.

In addition to this, SBI customers will also be charged a fee of Rs 10 plus GST to Rs 20 plus GST for “any additional financial transactions beyond the set limit”.

SBI ATM users can keep a tab on account balance as there are several options like missed call and SMS facility which allows customers to keep track of the balance in their savings account.

SBI allows 8 free transactions to its regular savings account holders in a month in the metro cities. These include free transactions from 5 SBI ATMs and 3 ATMs of any other bank. Ten free ATM transactions from non-metro cities in which 5 transactions can be made from SBI, while 5 from other banks ATM, according to the SBI website.

SBI customers can withdraw cash more than Rs 10,000 from ATMs but that will require one time password (OTP). An OTP will be sent to their registered mobile number each time they try to withdraw cash over Rs 10,000 from SBI ATMs.

Customers can either send an SMS Balance to 9223766666 from their registered mobile number or they can give a missed call at 9223766666 which is a toll-free balance enquiry number to check their account balance without using an internet connection.