SBI Credit Card- Cash Withdrawal and Charges

People in the modern era use plastic money for their daily transactions. The primary function of a credit card is to facilitate cashless transactions, but the cash withdrawal facility is an added benefit that banks provide. Cash can be withdrawn from an ATM using a credit card. As a result, credit card cash withdrawals incur fees. This cash withdrawal feature may not be available on all credit cards. There are also withdrawal limits, which differ from one card to the next. This benefit is also available to SBI credit cardholders. The amount for SBI credit card cash withdrawal is limited, as it is for other banks. The amount and charges imposed are limited by the card. Let's learn about the SBI cash withdrawal process and charges

How to generate your SBI Credit Card PIN

Generating pin online

• Go to sbicard.com to access your SBI Card Online account.
• Select My Account from the left-hand menu.
• Choose 'Manage PIN'.
• Select the credit card for which you want to generate the PIN from the drop down menu.
• We will send you an SMS with a One Time Password (OTP) to your registered mobile number.
• Enter the OTP and the ATM PIN you want to use.
• When you click 'Submit,' your PIN is generated.

Generating pin through call

• Call 39 02 02 02 (prefix local STD code) or 1860 180 1290 and select option 6 to generate the pin
• Enter your credit card information and date of birth.
• Authenticate using the One-Time Password (OTP) sent to your registered email address or mobile phone number.
• Configure your SBI Card PIN

How to Get Cash Using SBI Credit Card?

• Insert your SBI Credit Card into the ATM machine's card slot.
• Fill in your PIN and the amount you want to withdraw.
• Take your cash and transaction receipt with you.

Cash Withdrawal Fees and Charges

• When you withdraw cash from an ATM, you will be charged a cash advance fee. A fee of 2.5% or Rs. 500 (whichever is greater) will be charged for domestic cash withdrawals, and a fee of 2.5% or Rs. 500 (whichever is greater) will be charged for international cash withdrawals.
• You will also be charged a service fee (monthly & annual charges of 3.5% p.m. & 42% per annum, respectively) on these withdrawals, beginning from the date you took the cash from the ATM to the date you returned it.

Cash Withdrawal Limit on SBI Credit Card

The cash withdrawal or cash advance limit is the amount of money that a cardholder can withdraw with a specific credit card. It is usually expressed as a percentage of the total available credit limit on the card in question. For example, if a card's credit limit is Rs.2 lakh, the cash advance limit will range between 20% and 80% of that amount. If the cash limit is 20%, the cardholder can use their credit card to withdraw Rs.40,000 in cash. Similarly, if the cash limit is set at 80%, the cardholder can withdraw Rs.1,60,000 using the credit card. SBI typically provides a cash advance limit of 80% on the majority of its products.