Over the past few hours a number of reports have been floating in about how the State Bank of India is going to hike the SBI ATM withdrawal charges. News stories that came from major Indian news houses and various influential social media handles are stating that the State Bank of India is going to hike the service charge of ATM withdrawals and is going to make it INR 25 per transaction.
However, we at Newsient can confirm that this is an incomplete report which is being floated around. Yes, the SBI ATM Withdrawal charges will be INR 25 per transaction, but that is only applicable for the users of SBI Buddy. Regular users will not be affected by this. For all the other users, it is as follows:
- First four transactions are free
- SBI ATM withdrawal charges in SBI Bank ATMs: INR 10 per transaction after first four transactions.
- Non-SBI ATM withdrawal charges: INR 20 per transaction after first four transactions.
The State Bank of India has also increased the service charge on the issue of cheque books.
- A 10 leafed cheque book now costs INR 30+ST
- A 25 leafed cheque book now costs INR 75+ST
- A 50 leafed cheque book now costs INR 150+ST
The SBI circular also states that ATM cards will no longer be issued for free. Only RuPat Classic Cards will be provided for free.
While many news outlets did talk about how the SBI ATM withdrawal charges are going to be hiked to INR 25, it is only for buddy users and not for regular SBI users. This confusion arose due to another SBI circular which lacked a few details, and the journalists jumped the gun before researching further. Fault on both the sides, but the reality isn’t as bad. Stay tuned with us at Newsient for more such news updates and myth busters!