State Bank of India on Thursday clarified reports that had said all ATM withdrawals would be charged Rs 25. The bank said that it will charge Rs 25 per cash withdrawal transaction on its e-wallet SBI Buddy from June 1. “The service charge on cash withdrawal from ATMs has not been changed for normal savings accounts,” its managing director (national banking) Rajnish Kumar told PTI.
Kumar said that a customer can also deposit in and withdraw from their mobile wallets using a business correspondent. The bank will levy a service charge depending on the amount of cash. Kumar added that the bank would issue a new circular with clearer information.
The number of free withdrawals from ATMs currently remains the same for SBI account holders. In metro cities, normal savings account holders get eight free transactions, five from SBI ATMs and three from other banks’. This is 10 transactions for the account holders in smaller cities. Jan Dhan account holders get four free ATM withdrawals a month.