SBI Hikes ATM Transaction Charges: Withdrawals And Balance Enquiry Now Cost More
SBI Hikes ATM Transaction Charges: Withdrawals And Balance Enquiry Now Cost More
State Bank of India revises ATM fee structure after rise in interchange charges; non-SBI ATM use will be costlier beyond free limits.
State Bank of India (SBI) has announced a revision in its ATM transaction fee structure, affecting account holders who exceed free withdrawal limits at other banks’ ATMs. The decision comes in the wake of increased interchange fees levied across the ATM network, prompting SBI to adjust charges for certain transactions.
Under the updated fee schedule, SBI savings and salary account customers will continue to enjoy a number of free transactions each month at non-SBI ATMs, but once those free limits are exceeded, new charges will apply. Regular savings account holders can still make five free transactions per month at non-SBI ATMs, covering both financial (cash withdrawals) and non-financial transactions (such as mini-statement or balance enquiry). After this limit, charges will be applied.
For salary account holders, the free transaction standard has also changed. Previously, SBI salary account customers enjoyed unlimited free ATM transactions across all ATMs in India. As per the revised rules, they will now receive 10 free non-SBI ATM transactions per month at ATMs outside the SBI network. Beyond these free transactions, a fee of ₹23 plus GST will be levied for each cash withdrawal, and ₹11 plus GST will be charged for non-financial transactions including balance checks and mini-statements.
In its communication, SBI said the revision is necessary following higher interchange fees, which banks pay each other to settle ATM transactions. The bank clarified that the changes will primarily affect users who frequently use ATMs outside the SBI network. Customers using SBI ATMs will not face these additional charges.
Certain account types remain unaffected by the new fees. Basic Savings Bank Deposit (BSBD) accounts and SBI debit card holders using SBI ATMs are exempt from the increased charges. Customers with Kisan Credit Card accounts linked to SBI ATMs are also not impacted by these revisions.
The updated fee structure applies to both financial and non-financial transactions once the free entitlement is exhausted. For many customers who rely on ATMs to avoid branch queues or for emergency cash needs, the higher charges could be noticeable, especially with increasing ATM usage patterns.
SBI’s move reflects a broader trend among banks in India reassessing ATM cost structures following regulatory changes in interchange pricing. Users are advised to monitor their monthly usage carefully to avoid unexpected debits for ATM transactions, or consider using SBI’s own ATM network where possible to minimise charges.
