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SBI Allows Cash Withdrawal Of Upto Rs. 2000 From Cash@POS


In the wake of cash crisis situation at ATM given a number of factors, the state-run lender said that a cash withdrawal facility to customers has been extended from Cash@POS. Through this SBI customers can withdraw funds upto Rs. 2000 from SBI point of sales terminals at merchant sites.

SBI Allows Cash Withdrawal Of Upto Rs. 2000 From Cash@POS

The guidelines of RBI allow a maximum withdrawal of Rs. 1000 in tier I and II cities while Rs. 2000 is the limit in case of Tier III to Tier VI cities per day per card.

PoS machines are deployed with several vendors and are used for processing card payments at retail sites. SBI includes a total of 6.08 lakh PoS machines. The bank also affirmed that the cash crisis situation is improving.

Also the provision enabling withdrawal of funds at PoS deployed by SBI will be available for free with no fee.

"Debit card holders of SBI and all other banks can withdraw cash from PoS machines installed by SBI across various merchant locations. Presently, the bank will not be charging any fees", said the state-run bank in a press release.

Read more about: sbi point of sales cash crisis atm rbi
Story first published: Friday, April 20, 2018, 14:02 [IST]
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