Change in the limit of free transactions

State Bank of India (SBI) has changed the number of free ATM transactions. Under the change, all customers, whether they are living in metro or non-metro, will be entitled to 10 free transactions at SBI ATMs and 5 free transactions at other bank ATMs every month. For customers having an average monthly balance between Rs 25,000 and Rs 50,000 in the account, there will be a facility to do 5 free transactions at ATMs of other banks. The same applies to those having a balance between Rs 50,000 and Rs 1,00,000. Account holders having an average monthly balance (AMB) of more than Rs 1,00,000 can enjoy unlimited free transactions at both SBI and other bank ATMs. That is, there will be no withdrawal limit for them.

Change in ATM service charge too

State Bank of India (SBI) has also changed the charges levied on ATMs. According to the bank, once you exhaust your free ATM transaction limit, SBI will charge you Rs 15 + GST ​​on every transaction at SBI ATMs, no matter where you are. If you use ATMs of other banks, the charge will be Rs 21 + GST. For services like balance enquiry, mini statement, etc., after the free limit, there are no charges on SBI ATMs. However, if you use ATMs of other banks, you will be charged Rs 10 + GST ​​per transaction.

If the ATM transaction fails due to insufficient funds in your savings account, a penalty of Rs 20 + GST ​​will be charged. From May 1, 2025, SBI customers will have to pay an ATM withdrawal fee of Rs 23 per transaction after exceeding their free monthly limit.

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However, for transactions exceeding the limit, different banks charge different types of fines. Here today we will tell you about the fine imposed by 3 major banks of the country on ATM transaction more than the limit. But, along with this, it is also very important for you to know that the Reserve Bank of India has also fixed a different limit for ATM transaction for different cities of the country.

Can withdraw money from other banks only 3 times

You can use ATMs of other banks only 3 times in these 6 cities of the country: According to the rules of RBI, 6 cities of the country – Delhi, Mumbai, Bangalore, Chennai, Hyderabad and Kolkata are included in the cities where you can use other banks. Bank ATM can be used only 3 times. Except these 6 cities, you can do maximum 5 free transactions in a month from other bank’s ATMs in the rest of the country.

The point to note here is that free ATM transactions include both financial and non-financial transactions. That is, you withdraw money from ATM or just check account balance, it will keep adding to your limit. However, after the specified limit, there is a higher fine on financial transactions and less on non-financial transactions.

Know how much SBI will charge

If you are a customer of SBI and have completed the prescribed limit of transaction from other bank’s ATM, then after that you will have to pay Rs 20 for every transaction. Along with this, you will also have to pay GST on it. Apart from this, if you meet the limit of SBI ATM, then after that you will have to pay Rs 10 and GST on every transaction.

HDFC Bank Charges

If you are a customer of HDFC Bank and have completed the prescribed limit of transaction from other bank’s ATM, then after that you will have to pay Rs 21 plus GST for every transaction. Apart from this, even after meeting the limit of HDFC Bank ATM, you will have to pay Rs 21 and GST. Let us tell you that HDFC Bank customers can do 5 free transactions in a month from their bank’s ATM .

ICICI Bank charges

If you are a customer of ICICI Bank and have completed the prescribed limit of transaction from other bank’s ATM, then after that you will have to pay GST on every transaction along with a total of Rs 21. And if you meet the limit from ICICI Bank ATM, then you will have to pay Rs 21 and GST for each transaction after that. Explain that ICICI Bank customers can do 5 free transactions in a month from their bank’s ATM.

The post ATM Charges Increased: Big change in the charges for withdrawing money from ATM, Know the new charges immediately first appeared on Rightsofemployees.com.