State Bank of India revised its ATM withdrawal rules with effect from 1 July. According to the bank website, in metro cities, SBI allows 8 free transactions to its regular savings account holders to transact in a month. Beyond this, customers are charged on each transaction.
A customer is allowed 8 free transactions from their savings account each month. These include free transactions from 5 SBI ATMs and 3 ATMs of any other bank. Non-metro cities get 10 free ATM transactions, in which 5 transactions can be made from SBI, while 5 from other banks ATM.
In case of a failed transaction, the bank will charge a fee of Rs 20 plus GST due to insufficient balance.
SBI ATM cash withdrawal with OTP
SBI offers a safe way to withdraw cash over Rs 10,000 across all SBI ATMs. This new facility, which was introduced on January 1, 2020, allows ATM cardholders to withdraw cash with the help of a one-time password (OTP) across all SBI ATMs from 8 PM to 8 AM.
Earlier, the bank had given some safety mantras to its customers on ways to keep their money safe. These include: