SBI clarified on ATM Withdrawal Charges

New Delhi May 16: State Bank of India has been stated that all the ATM withdrawals are not chargeable.

While coming to matter, SBI has revised service charges on various cash transactions for its customers.

SBI MD Rajnish Kumar said that It is clear that the existing charges continue and the newly-charged charges will not fall on customers.


The bank made the clarification after the reports of increase in service charges on regular ATM transactions.

"Rs. 25 per transaction is charged for withdrawing from State Bank Buddy through ATMs," the lender said in a statement. It introduced a new facility that would enable withdrawal of cash through ATMs using the bank's mobile wallet.

"If a customer has money in SBI Buddy, our mobile wallet, he can now withdraw that money through ATMs. Also, now the customer can deposit cash or withdraw cash through business correspondent (BC) from or into our mobile wallet. These facilities were not available earlier," State Bank of India MD (national banking) Rajnish Kumar said.

The service charges will be effective from June 1, 2017, he added.