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Cash Withdrawal At Other Bank ATM To Not Be Free From July 1


Some of the ATM transaction related relief announced in the wake of coronavirus led lockdown may be withdrawn, as so far there has not been any announcement for extending scheme beyond June 30.


Cash Withdrawal At Other Bank ATM To Not Be Free From July 1

In late March, the finance minister while addressing concerns pertaining to the impact of the coronavirus on the economy allowed free cash withdrawal from other bank ATMs for 3 months. This was in addition to the waiver on charges for non-maintenance of minimum amount in bank savings account.

So, as is the situation, earlier rules concerning ATM withdrawal are likely to be restored from July 1.

Accordingly, customers will need to keep in mind bank-specific ATM cash withdrawal rules:

Below are provided SBI's ATM withdrawal rules:

As per the bank's site, 8 free cash withdrawals are allowed in a month in a metro city. And of the total 8 free transactions, 5 are from SBI ATMs and remaining from other bank's ATM. For every transaction, beyond these 8 free transactions, customer is charged some fee.

In non-metros, SBI allows total 10 free transactions, 5 from SBI's ATM and 5 from any other bank's ATM.

Cash transactions to attract Rs. 20 plus GST while on non-cash transactions, a fee of Rs. 8 plus GST is charged.

Read more about: atm
Story first published: Sunday, June 28, 2020, 22:16 [IST]
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