This may have happened to you many times when you tried to withdraw cash from the ATM but the transaction failed due to low balance. So far this mistake of yours has been forgiven but now if you make the same mistake again when withdrawing cash from SBI 's ATM, your pocket will be heavy.
Learn the new rules of SBI
According to SBI's new rules, if you try to withdraw cash from an SBI ATM in excess of the amount deposited in the account, you will have to pay a penalty of Rs 20 and GST. Even if you make a mistake, it can still hurt you. If the transaction fails for any reason other than low balance, SBI will not charge.
How to avoid penalties
The first way to avoid penalties is to keep track of the amount deposited in your account. If there is no information, use SBI's balance check service to know the account balance, which is provided by SBI via tweet. Balance can be ascertained by calling customer care. The balance can also be checked before withdrawing cash from an ATM. If you use Online SBI, information can also be taken from there. Apart from this, the balance can also be checked on Google Pay or Phone Pay app. One more thing about ATM transactions, although it is not new. SBI Metro City customers get 8 free ATM transactions per month. 5 from SBI ATM and 3 from other bank ATMs. So, for non-metro city customers, this limit is 10 free ATM transactions. From ATMs of SBI and ATMs of 5 other banks. The bank charges for transacting more than that.
Even last year the big rules changed
The SBI also changed a rule in September 2020. It was that if you have to withdraw Rs 10,000 or more from an SBI ATM, it is not enough just to enter the PIN. You will also have to enter the One Time Password (OTP) on the mobile number registered with the bank at the ATM, only then the money will be withdrawn.
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