The charges come with modifications in all types of online transaction modes
State Bank of India (SBI) account-holders will have to pay higher service charges than before on online transactions and also for exchanging soiled notes at bank branches from June.
While the government is urging citizens to move towards a cashless economy after its mammoth demonetisation drive, the country’s largest bank has brought in revised service charges that became effective on Thursday, June 1, 2017.
Here are the increased charges you will have to factor in:
- ATM transactions:
Cash withdrawal from SBI’s mobile app, State Bank Buddy, through ATM will now be charged Rs 25 per transaction. No charges will be levied on four ATM transactions in a month. Beyond four transactions, service charges will be levied on Basic Savings Bank Deposit account at Rs 20 plus service tax per transaction on other banks’ ATMs and Rs 10 plus service tax per transaction on SBI’s own ATMs. Other than that, normal bank accounts, such as the savings bank account, will continue to attract eight free ATM transactions in metros and ten free transactions in non-metros.
- Depositing and withdrawing from Savings Bank:
Cash deposit into mobile wallet SBI Buddy of up to Rs 10,000 will be charged at 0.25 per cent of the transaction value with a minimum charge of Rs 2 and a maximum charge of Rs 8 plus service tax.
Similarly, cash withdrawal from SBI Buddy for an amount of up to Rs 2,000 (multiples of 100) will be charged at 2.5 per cent of the transaction value with a minimum charge of Rs 6 plus service tax.(read more)