On the basis of how much your monthly average balance is, the bank gives you the facility of free transaction.
There is now a charge when transacting from an ATM.
If you also have an account with SBI, then it is important to know that transactions from ATMs have now been chargeable. Although some transaction is free. If you do any kind of financial or non-financial transaction after the free limit of every month, then you will have to pay the charge. Let us know about this in detail in this article.
How much ATM transaction will be free depends on your monthly average balance. If the monthly average balance for saving account is MAB up to 25 thousand rupees, then five transactions are free at SBI ATM. In Metro cities, 3 transactions are free at other banks’ ATMs and 5 transactions at non-SBI ATMs in other cities are free. Similarly, unlimited transaction can be done from SBI ATM if MAB is 25-50 thousand rupees. Talking about non-SBI ATMs, 3 transactions can be done in metro cities and 5 transactions in other cities. Unlimited transactions can be done from any ATM with an average balance of more than 1 lakh.
After the completion of the limit, financial transaction will be done from the ATM of SBI network at 10 rupees plus GST. Non financial transaction will incur 5 rupees and GST. In the absence of funds, failure of the transaction will incur a fee of Rs 20 and GST. In case of non-SBI ATM transactions exceeding the limit, this charge will be Rs 20 for financial transaction, Rs 8 for non-financial transaction and Rs 20 for transaction declines in the absence of funds. GST will be levied separately in every situation.
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