Attention ATM users! SBI, Bank of Baroda restrict cash withdrawals from micro-ATMs of other banks
5 years, 3 months ago

Attention ATM users! SBI, Bank of Baroda restrict cash withdrawals from micro-ATMs of other banks

India TV News  

Bank ATM users alert: Bank of Baroda and State Bank of India have put cash withdrawal limitations for customers at micro-ATM terminals of other banks, in a move that would majorly impact banking services in rural areas. According to Economic Times reports, under new rules, BoB has limited its withdrawals for customers from micro-ATM terminals of other banks to four while SBI has limited it to just one. This has been implemented to protect the interest of financial inclusion customers, the reason behind the move is acquirer banks’ agents indulging in split transactions and as per advisory from NPCI,” said a BoB spokesperson. “While the customer does not get any benefit through such acts, retailers make extra money since their commissions are based on the number of transactions.” As per the norms, BoB pays 0.5% of the transaction amount, or Rs 15, whichever is lower, when a customer uses a micro-ATM of any other bank. The new rules also state that SBI will allow 8-10 free ATM transactions in a month for its customers with average monthly balance of up to Rs 25,000 in their savings accounts.

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History of this topic

SBI ATM Withdrawal Rule: Want to Withdraw More Than Rs 10,000? You Need to Enter OTP
2 years, 5 months ago

SBI ATM Withdrawal Rule: Want to Withdraw More Than Rs 10,000? You Need to Enter OTP

News 18  

SBI ATM Cash Withdrawal Rules: The State Bank of India, or SBI, which has the highest number of customers in the country, has always been alert about preventing ATM scams. The lender has in effect a one-time password based cash withdrawal system whereby customers who wish to withdraw money from an SBI ATM will have to enter an OTP. How …

SBI ATM Rules: How Many Free Cash Withdrawals Allowed in a Month? Know Limit, Charges
2 years, 6 months ago

SBI ATM Rules: How Many Free Cash Withdrawals Allowed in a Month? Know Limit, Charges

News 18  

The country’s largest lender State Bank of India offers five free transactions for customers maintaining a monthly balance of up to Rs 1 lakh at its ATMs in Delhi, Kolkata, Mumbai, Chennai, Bengaluru and Hyderabad. SBI charges Rs 10 to withdraw money from the bank’s ATM beyond the free limit, while it levies Rs 20 for financial transactions from other …

Card-less cash withdrawal facility across all banks' ATM network soon: RBI
2 years, 9 months ago

Card-less cash withdrawal facility across all banks' ATM network soon: RBI

India TV News  

Highlights The facility is proposed to be made available through the Unified Payments Interface Settlement of such transactions would happen through the ATM networks In a bid to check fraud, the Reserve Bank on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs. "It is now proposed to make card-less cash withdrawal facility available across all …

SBI ATM Withdrawal New Rule: How to Withdraw Cash Using OTP to Avoid Frauds
3 years, 2 months ago

SBI ATM Withdrawal New Rule: How to Withdraw Cash Using OTP to Avoid Frauds

News 18  

At a time when ATM frauds have become common across the whole country, the State Bank Of India has come up with a unique solution to protect its ATM card users from falling into the trap. The new move taken by SBI to inch towards better safety is the introduction of an OTP based cash withdrawal system from the ATMs. …

SBI ATM Cash Withdrawal Charges: SBI Changes Rules For Cash Withdrawals From July 1
3 years, 6 months ago

SBI ATM Cash Withdrawal Charges: SBI Changes Rules For Cash Withdrawals From July 1

ABP News  

State Bank of India is going to bring changes in the service charge from July 1. That is, from Thursday, SBI will revise the service charges for withdrawing cash from its ATMs and bank branches. According to the SBI website, BSBD account holders will be able to make four free cash withdrawals per month from ATMs and bank branches. Senior …

SBI ATM Cash Withdrawal Rules, Charges to Change from Next Month. Details Here
3 years, 6 months ago

SBI ATM Cash Withdrawal Rules, Charges to Change from Next Month. Details Here

News 18  

Starting from next month, State Bank of India is all set to change the rules and charges for cash withdrawals from its ATMs and bank branches. Know new rules 1) The changes will be applicable for SBI Basic Savings Bank Deposit account holders. Touted as zero balance savings account, SBI Basic Savings Bank Deposit account is meant for poorer sections …

Looking For Unlimited Free ATM Transactions? Here Are Banks That Offer This Service
3 years, 6 months ago

Looking For Unlimited Free ATM Transactions? Here Are Banks That Offer This Service

ABP News  

New Delhi: In a recent notification, the Reserve Bank of India has allowed the banks to raise the charges for cash and non-cash ATM transactions beyond the threshold of the free monthly limit. Most private and public banks in India currently allow five free ATM transactions in urban cities and towns from their own bank ATMs. But some private banks …

ATM Cash Withdrawal Charge, Debit Card, Credit Card Fee to Increase Soon
3 years, 6 months ago

ATM Cash Withdrawal Charge, Debit Card, Credit Card Fee to Increase Soon

News 18  

The Reserve Bank of India has allowed banks to increase charges on automated teller machines to Rs 21 per transaction. For customers using other bank ATMs for cash withdrawal are allowed three free ATM transactions in metro cities and five in non-metro centres. “It is also observed that the last change in interchange fee structure for ATM transactions was in …

ATM cash withdrawal fee hiked: Banks to charge Rs 21 per transaction beyond free limit
3 years, 6 months ago

ATM cash withdrawal fee hiked: Banks to charge Rs 21 per transaction beyond free limit

India TV News  

The Reserve Bank of India has allowed the banks to hike the fee charged on cash withdrawal beyond the permitted free ATM transaction limit from Rs 20 to Rs 21 per transaction, with effect from January 1, 2022. Beyond the free transactions, the ceiling/cap on customer charges is Rs 20 per transaction. "To compensate the banks for the higher interchange …

SBI Alert: State Bank of India to revise rules for ATM cash withdrawal, chequebook charges from THIS date
3 years, 7 months ago

SBI Alert: State Bank of India to revise rules for ATM cash withdrawal, chequebook charges from THIS date

India TV News  

SBI Customer Alert: India's largest lender, State Bank of India is all set to revise the service charges for SBI Basic Savings Bank Deposit account holders. Cash withdrawal at SBI ATMs: The service charges will be recovered beyond four free cash withdrawals, including withdrawal at the ATM and Branch. The new service charge beyond four free withdrawals will be Rs …

SBI Rule Change: Cash Withdrawal from ATM to Cheque Books, Check New Charges
3 years, 7 months ago

SBI Rule Change: Cash Withdrawal from ATM to Cheque Books, Check New Charges

News 18  

India?s largest public sector bank, the State Bank of India has introduced new rules for cash withdrawal at its branches and ATMs. As per the official notification issued by the bank, the new rules will be applicable for Basic Savings Bank Deposits account holders of SBI, and will come into effect from July 1, 2021. For every additional cash withdrawal, …

SBI ATM cash withdrawal, chequebook charges changed for these account holders. Details here
3 years, 7 months ago

SBI ATM cash withdrawal, chequebook charges changed for these account holders. Details here

Live Mint  

The country's top lender State Bank of India has revised service charges for Basic Savings Bank Deposit account holders. Cash Withdrawal At SBI branches The bank will recover charges beyond four free cash withdrawal transactions. Chequebook charges SBI would provide 10 cheque leaves free in a financial year to BSBD account holders. Non-financial transactions There would not be any charges …

SBI Extends OTP-Based ATM Withdrawal Throughout the Day
4 years, 3 months ago

SBI Extends OTP-Based ATM Withdrawal Throughout the Day

The Quint  

To reinforce ATM security system, lending major State Bank of India on Tuesday, 15 September, has extended its OTP-based cash withdrawal for Rs 10,000 and above throughout the day. OTP-based cash withdrawal for Rs 10,000 can now be carried out throughout the day across all SBI ATMs in the country starting 18 September. "For withdrawing Rs 10,000 and above, SBI …

SBI to change ATM cash withdrawal rules from September 18. Know details
4 years, 3 months ago

SBI to change ATM cash withdrawal rules from September 18. Know details

Live Mint  

India's biggest bank SBI is extending OTP-based cash withdrawal for ₹ 10,000 and above throughout the day across all SBI ATMs in the country. For safeguarding customers, SBI had introduced OTP based cash withdrawals of above ₹10,000 between 8 PM – 8 AM through SBI ATMs from January 1, 2020. "With the introduction of 24x7 OTP-based cash withdrawal facility, SBI …

SBI ATM-cum-debit card gets new safety feature
4 years, 4 months ago

SBI ATM-cum-debit card gets new safety feature

Live Mint  

State Bank of India customers can now block transactions on their ATM-cum-debit card via SMS. SBI's new facility for debit card users will help curb the ATM frauds which have been on the rise. Other ways to block ATM-cum-debit cards are through customer care call, net banking and SBI Quick app. SBI recommends that customers should conduct ATM transactions in …

Insufficient balance: How much SBI will charge for failed ATM transaction
4 years, 4 months ago

Insufficient balance: How much SBI will charge for failed ATM transaction

Live Mint  

State Bank of India has revised its ATM withdrawal rules with effect from 1 July. As per the information available on the official website of the State Bank of India sbi.co.in, in metro cities, SBI allows 8 free transactions to its regular savings account holders to transact in a month. The bank allows its customers maintaining an average balance of …

SBI’s 10 ATM safety mantras: Follow these tips to prevent debit card fraud
4 years, 4 months ago

SBI’s 10 ATM safety mantras: Follow these tips to prevent debit card fraud

Live Mint  

State Bank of India has given some tips to its customers on ways to keep their money safe. SBI has recommended that customers should conduct ATM transactions in complete privacy in order to avoid any ATM-cum-debit card fraud. SBI has shared some tips on safe banking at ATMs: 1) Use your hand to cover the keypad while using an ATM …

SBI ATM cash withdrawal over ₹10,000 with OTP. How to do it?
4 years, 6 months ago

SBI ATM cash withdrawal over ₹10,000 with OTP. How to do it?

Live Mint  

The State Bank of India offers a safe way to withdraw cash over ₹10,000 across all SBI ATMs. "An all new OTP based cash withdrawal system has been in effect since 1st Jan 2020 at all our ATMs. 5) This additional factor of authentication will protect SBI card holders from unauthorized ATM cash withdrawals. 6) SBI's OTP-based cash withdrawal system …

SBI new ATM withdrawal rules: Transaction limits, charges and other details
4 years, 6 months ago

SBI new ATM withdrawal rules: Transaction limits, charges and other details

Live Mint  

State Bank of India has revised its ATM withdrawal rules with effect from 1 July. In view of the coronavirus pandemic, SBI had waived service charges for all ATM transactions made on SBI ATMs as well as other bank ATMs on account of exceeding free number of transactions. "In view of the announcement made by Finance Minister on 24th March, …

SBI shares 10 ATM safety mantra to prevent debit card fraud
4 years, 7 months ago

SBI shares 10 ATM safety mantra to prevent debit card fraud

Live Mint  

Various banks, including country's top lender State Bank of India have been advising their customers on ways to bank safely. SBI recommends that customers should conduct ATM transactions in complete privacy in order to avoid any ATM-cum-debit card fraud. Avoid writing it on your ATM card or anywhere else 4) Avoid using birthdays and anniversary dates as you PIN 5) …

ATM cash withdrawal: SBI shares 7 safety tips to guard against coronavirus
4 years, 9 months ago

ATM cash withdrawal: SBI shares 7 safety tips to guard against coronavirus

Live Mint  

In the time of novel coronavirus, you must take every precaution to save yourself and your family from the deadly virus. Country's largest lender State Bank of India has shared certain tips for all bank customers using ATM for withdrawing cash. Precautions you must take while using an ATM as mentioned by SBI are as under: 1) Avoid using the …

Debit card holders can withdraw from any ATM free of charges for next 3 months
4 years, 9 months ago

Debit card holders can withdraw from any ATM free of charges for next 3 months

Live Mint  

Finance Minister Nirmala Sitharaman today said that debit card holders who withdraw cash from any bank's ATM can do it free of charge for the next three months to promote digital financial transactions at the time of coronavirus pandemic. ".so you may have a debit card from a bank, a particular bank, but you will now be allowed, without additional …

SBI waives minimum balance charges on all savings bank accounts
4 years, 9 months ago

SBI waives minimum balance charges on all savings bank accounts

Live Mint  

India's largest bank SBI today announced that it will waive charges for non-maintenance of average monthly balance for all 44.51 crore savings bank accounts. Currently SBI savings bank customers need to maintain average monthly balance of ₹3000, ₹2000 and ₹1000 in metro, semi urban and rural areas respectively. India's biggest bank has also rationalised interest rate on savings bank account …

SBI ATM cash withdrawal: New rules from today. Details explained here
5 years ago

SBI ATM cash withdrawal: New rules from today. Details explained here

Live Mint  

Keeping in view the incidents of ATM-related frauds on the rise, State Bank of India has introduced a one-time password -based cash withdrawal system for its ATMs. SBI's OTP-based ATM cash withdrawal facility has come into system with effect from today, 1st January 2020. How will SBI customer withdraw cash through OTP In this process, once the cardholder enters the …

For SBI account holders, 3 things that change from today
5 years ago

For SBI account holders, 3 things that change from today

Live Mint  

From today, 1st January 2020, few rules are changing for State Bank of India. In an attempt to improve customer experience, SBI is making some changes in its services like OTP-based ATM transactions, upgradation to EMV chip debit card, and reduction in its external benchmark based rate resulting in cheaper home loans. Let's take a look at what will change …

Important news for SBI cardholders! Bank introduces OTP-based cash withdrawal system. Get details here
5 years ago

Important news for SBI cardholders! Bank introduces OTP-based cash withdrawal system. Get details here

India TV News  

In recent times, many cases of unauthorized transactions on account of skimmed/cloned cards were registered that led to fraud. To minimise the number of unauthorized transactions happening on ATMs, the State Bank of India has decided to introduce the OTP-based cash withdrawal system. The bank on its official Twitter handle posted a tweet, "Introducing the OTP-based cash withdrawal system to …

Bank ATM cash withdrawal: RBI announces new guidelines on ATM transactions. Check out
5 years, 1 month ago

Bank ATM cash withdrawal: RBI announces new guidelines on ATM transactions. Check out

India TV News  

Bank ATM Transaction: In a move to put a curb on the increase in fraud in ATM cash withdrawals and ensure its safety, the Reserve Bank of India on Thursday announced new guidelines on ATM transactions. In its bi-monthly “Statement on Developmental and Regulatory Policies”, the central bank noted that several banks and other regulated entities depend on third-party application …

SBI ATM cash withdrawal limit for debit cards: Features, transaction limit and other details
5 years, 1 month ago

SBI ATM cash withdrawal limit for debit cards: Features, transaction limit and other details

Live Mint  

State Bank of India offers seven types of ATM-cum-debit cards to its customers. ATM withdrawal limit: ₹20,000 Here are some of the charges applicable to the SBI Classic Debit card: Issuance charges -Nil Annual Maintenance Charges - ₹125/- plus GST Card replacement charges - ₹300/- plus GST 2) SBI Global International Debit Card With SBI Global International Debit Card you …

SBI account holders attention! Bank asks to maintain this much minimum monthly balance or pay hefty penalty
5 years, 3 months ago

SBI account holders attention! Bank asks to maintain this much minimum monthly balance or pay hefty penalty

India TV News  

SBI bank account holders alert: Are you State Bank of India account holder? To be noted, if someone does not maintain Rs 3,000 as average monthly balance and falls short by 50 per cent the individual will be charged Rs 10 plus GST. SBI account holders of semi-urban branches need to maintain an average monthly balance of Rs 2,000. Meanwhile, …

SBI new ATM withdrawal charges, revision from October 1
5 years, 3 months ago

SBI new ATM withdrawal charges, revision from October 1

Live Mint  

Country's largest lender State Bank of India or SBI has come out with details on its website regarding revison of service charges with effect from 1st October. Five things to know about SBI ATM withdrawal charges: 1) Regular savings bank account holders get eight free transactions, including five transactions at SBI ATMs and three transactions at other bank ATMs. In …

Bank of India asks account holders to stop using debit cards for cash withdrawal – India TV
5 years, 3 months ago

Bank of India asks account holders to stop using debit cards for cash withdrawal – India TV

India TV News  

Amid a massive rise in the fraud cases happening through bank ATM cards or debit cards like cloning and skimming, India's one of the largest public sector bank Bank of India has issued an advisory for its customer. The bank in its statement has warned its customer of banking fraud and has asked them to stop using a debit card …

SBI ATM withdrawal rules: Free transactions, charges and other details
5 years, 6 months ago

SBI ATM withdrawal rules: Free transactions, charges and other details

Live Mint  

The charges you pay for using Automated Teller Machines may change soon. Currently, the State Bank of India offers eight free transactions to regular savings bank account holders, including five transactions at SBI ATMs and three at other bank ATMs. In non-metros, such account holders get 10 free transactions, including five at SBI ATMs and five at others. The bank …

SBI, Bank of Baroda savings accounts: minimum balance rules, penalty explained
5 years, 8 months ago

SBI, Bank of Baroda savings accounts: minimum balance rules, penalty explained

Live Mint  

New Delhi: Regular savings accounts require customers to maintain a minimum average balance. State Bank of India, Bank of Baroda and other leading banks have fixed their monthly minimum average balance requirements according to the location of a customer's account. Here are the MAB requirements and penalty charges levied for non-maintenance of balance by SBI, and Bank of Baroda : …

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