The largest lender of the country, State Bank of India has revised service charges on ATM withdrawal for users of its mobile app ‘SBI Bank Buddy’ and other cash transactions from June 1.
SBI has said that the Rs. 25 charges will be levied only when money is withdrawn from an ATM through the bank’s mobile wallet app.
Let’s have a look at the revision in Service charges
Description of Service Charge Revised Rate
(A) IMPS Fund Transfer Charges through INB/MB/UPI/USSD
(i) Upto Rs. 1 Lac Rs. 5/- +Service Tax
(ii) Above Rs. 1 Lac upto Rs. 2 Lacs Rs. 15/- +Service Tax
(iii) Above Rs. 2 Lacs upto Rs. 5 Lacs Rs. 25/- +Service Tax
(B) Service Charges for exchange of Soiled/Imperfect Notes
(1) Upto 20 pieces and value upto Rs.5,000/ - Nil
(2) More than 20 pieces and / or value more than Rs.5,000/
More than 20 pieces - Rs.2/- per piece on entire tender + Service Tax
Value above Rs.5,000/- Rs.2/- per piece or Rs.5/- per 1000 + Service Tax whichever is higher on entire tender
Service Charges for Basic Savings Bank Deposit (BSBD) accounts
(1) Issue of Cheque book - 10 Leaf Cheque Book at Rs. 30/- + Service Tax
(2) 25 Leaf Cheque Book at Rs. 75/- + Service Tax
(3) 50 Leaf Cheque Book at Rs. 150/- + ST
Issue of ATM Card – Only RuPay classic card will be issued free of cost
Withdrawals - Four withdrawals in a month including ATM withdrawals free of charges.
(1) Beyond 4 withdrawals: At Branch- Rs 50/- + Service Tax per transaction.
(2) At other bank ATMS- Rs. 20/- + Service Tax per transaction.
(3) SBI Bank ATMs- Rs. 10/- + Service Tax per transaction.
APPLICABLE FOR STATE BANK BUDDY WALLET CUSTOMERS ONLY
STATE BANK BUDDY : Service Charges
(1) Cash withdrawal from Wallet Balance through ATM - Rs. 25/- per transaction
(2) Cash Deposit into Wallet through Business Correspondent (BC): Upto Rs.10000/- (multiples of 100) - 0.25% of the txn value (Min. Rs. 2, Max. Rs. 8) + Service Tax
(3) Cash Withdrawal from Wallet Balance through Business Correspondent (BC): upto Rs.2000/- (multiples of 100) - 2.50 % of the txn value (Min. Rs. 6) + ST