SBI changed the withdrawal rules: How much charge to be paid on a failed transaction

SBI changed the withdrawal rules: How much charge to be paid on a failed transaction

The State Bank of India (SBI) has changed its ATM withdrawal rules from July 1. According to the bank's website, SBI in metro cities allows its regular savings account holders to make 8 free transactions in a month. In addition, customers are charged on each transaction. A customer can make 8 free transactions from his savings account every month. These include free transactions from 5 SBI ATMs and 3 ATMs of any other bank. There are 10 free ATM transactions in non-metro cities, in which 5 transactions can be done from SBI, while 5 from ATMs of other banks. If the transaction fails, the bank will charge more than Rs. 20 GST due to a lack of adequate money in the account.

SBI ATM Cash Withdrawal through OTP:

From SBI ATM, you can safely withdraw cash of more than Rs. 10,000. The new facility was introduced on January 1, 2020. Customers can withdraw cash at all SBI ATMs with the help of a one-time password (OTP) from 8 am to 8 pm. Recently SBI has given its customers some ways to secure transactions. In addition, the bank also explained how its money can be kept safe.

How to keep your money safe:

  • Remember your PIN. Do not write it anywhere, especially not on the card.
  • Your card is for your own personal use. Don't share your PIN or card with anyone, not even your friends or family.
  • Use your hand to cover the keypad when using ATM cards at ATMs or POS machines. Stand near the ATM machine.
  • Don't reply to text messages, emails, or calls for your call details or PINS.
  • Do not take the help of strangers using atm cards or for your cash.
  • Delete your transaction receipt.
  • Do not use the number as PIN from your date of birth, phone number, or account number.
  • Look for spy cameras before starting your transaction.
  • Beware of keypad manipulation, heat mapping when using ATM or POS machines.
  • Make sure to signup for the transaction alert.
  • Opt for an OTP based cash withdrawal system to protect yourself from unauthorized transactions.

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