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Bank ATM cash withdrawal rules to change from July 1

Bank ATM cash withdrawal rules to change from July 1
New Delhi, Jun 27 (Agencies) | Publish Date: 6/27/2020 1:34:47 PM IST

Starting July 1, bank ATM cash withdrawal rules are going to change. This is because during the lockdown norms for cash withdrawals from an ATM were relaxed. The relaxations had been announced for a period of three months which means the deadline is June 30, 2020. If there is no extension announced, then the old ATM withdrawal rules will get reinstated. So, it will be better to say that the old rules are going to be implemented again.

ATM withdrawal rules differ from one bank to another. So, bank customers are advised to contact their home branch bank customer care number and find out the rules in this regard.

During the lockdown that was induced by the pandemic, India’s largest lender State Bank of India had earlier waived service charges for all ATM transactions made on SBI ATMs as well as other bank ATMs. 

SBI’s official website said, “In view of the announcement made by Finance Minister on March 24, State Bank of India has decided to waive ATM charges for all ATM transactions made on SBI ATMs and other bank ATMs on account of exceeding the free number of transactions up to 30th June.”

As per the information available on the official website of the State Bank of India (SBI) sbi.co.in, in metro cities, SBI allows 8 free transactions to its regular savings account holders to transact in a month. Beyond this, customers are charged on each transaction. 

SBI allows 8 free transactions to its regular savings account holders to transact in a month. These include free transactions from 5 SBI ATMs and 3 ATMs of any other bank. Non-metro cities get 10 free ATM transactions, in which 5-5 transactions can be made from SBI and other banks. It then levies Rs 20 + GST for cash transactions and Rs 8 + GST for non-cash transactions.


-Tags:#Bank ATM

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