The bank has announced to increase the ATM transaction charge for savings, trust, NRI and some priority and burgundy account holders. Now if the customer exceeds the set limit of free transactions, then a charge of Rs 23 will have to be paid on every additional ATM transaction. Till now this charge was Rs 21, that is, it has been increased by Rs 2. This new charge will be applicable on ATMs of Axis Bank and other banks. Apart from this, a separate tax will also be levied.

What is ATM interchange fee?

ATM interchange fee is the amount that one bank pays to another bank for using its ATM. For example, if you are a HDFC bank customer and withdraw money from SBI ATM, HDFC has to pay interchange fee to SBI. Banks often charge this fee from their customers, especially when the free transaction limit is exceeded.

How many free transactions are available? (From May 1, 2025)

• In metro cities: 3 free transactions per month
• In non-metro cities: 5 free transactions monthly
• After these limits, every transaction like withdrawing money or checking balance will be charged.
• If you want to avoid ATM charges, you can use digital transactions like UPI, internet banking or mobile banking more.

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These new rules will come into effect from February 1, 2025. SBI aims to simplify the fee structure and promote digital banking through this amendment. Under this, now both financial and non-financial transactions on ATMs of SBI and other banks will be affected.

How many free transactions will you get now?

As per the new SBI policy, all savings account holders will get 5 free transactions per month at SBI ATMs and 10 free transactions per month at other bank ATMs. However, the free limit at other bank ATMs has been reduced for certain balance categories.

• Customers maintaining an average monthly balance of ₹25,000 to ₹50,000 will now get only 5 free transactions at ATMs of other banks.
• The same limit will apply to customers with balances between ₹50,000 and ₹1,00,000.
• Those having balance of more than ₹ 1 lakh will continue to get unlimited free transactions.

Charges will be levied for transactions exceeding the limit

If you transact beyond your free limit, a charge of ₹15 + GST ​​will be levied at SBI ATMs and ₹21 + GST ​​per transaction at other bank ATMs, be it metro or non-metro.

Charges on non-financial transactions

• Transactions like balance enquiry, mini statement etc will be available without any charges at SBI ATMs even after the free limit.
• But if you avail these services from any other bank’s ATM, you will have to pay ₹10 + GST ​​per transaction.

Cashless financial transactions (like trust donations etc.) are free at SBI ATMs, but these are not available at ATMs of other banks.

Declined transaction charges in case of insufficient funds

If there is not enough balance in your account and the transaction fails, a penalty of ₹20 + GST ​​will be charged. There has been no change in this and with this the Reserve Bank of India (RBI) has decided to increase the ATM interchange fee from May 1, 2025, due to which SBI customers will have to pay ₹23 per transaction on additional transactions, which was earlier ₹21.

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