New Delhi: The State Bank of India (SBI), the country's largest bank, on the extra charges to withdraw of money from the bank and ATM, has announced that its customers will have to pay 25 rupees on withdrawal from ATM through mobile app SBI bank Buddy.

However, there was speculation in India that SBI, the country's largest bank, has started charging additional fees on each cash withdrawal from ATM and bank counter from June 1. However the bank has now come forward and cleared the speculations that there will be no extra fee on every extra withdrawal from the bank to its customers. The extra money will not be paid on the withdrawal of money from the ATM. The prerequisites of the bank on ATM clearance will continue as applicable.

The bank has made it clear that after the withdrawal of money from the ATM using the SBI Bank Buddy mobile app, customers will have to pay 25 rupees for each withdrawal. This SBI bank Buddy app is a new feature for the customers, which facilitates withdrawal of money from the ATM through the use of the bank's mobile wallet.

Actually, media reports were being said that SBI can recover 25 rupees on all ATM withdrawals.

Apart from this, it was also said that the withdrawal of all the savings accounts from 8 ATMs for free in a month would remain the same. Under this, 5 withdrawals, 3 ATM withdrawals from SBI ATMs will be given from any other ATM. Note that these 8 times clearance facility is available in metro cities. In the non metro cities, 10 times free withdrawal is provided, which will continue. These 10 free transactions include 5 SBI ATMs and 3 other banks' ATM transactions.

On behalf of SBI, it has been said that the limit of four times withdrawal in a month from ATM is applicable only on Basic Savings Bank Deposit Account. The SBI Basic Savings Account is a Limited Service Bank Account, which was started for the poor sections. Its purpose was to encourage the low income class to deposit savings in the account even without any charge. This kind of account holder gets ATM-cum-debit free and does not even have to pay annual maintenance charges.


About The Author

Archana Roy is an Indian fact-checker and news writer, writing news for Ayupp since 2014.

You Might Be Interested In

Latest On