Bank ATM New Rules: Many banking rules, including ATM cash withdrawal, are going to change from July 1. During lockdown, relaxations that were given to the people in banking related transactions, are going to be tightened, until there is no new announcement on the same. The waiver was announced for three months — April, May, June– the deadline is 30th June 2020.
New ATM Rules:
As new ATM cash withdrawal rules will come in effect from July 1, ATM transactions would become expensive for you from now. To be noted, Finance Ministry had withdrawn all transaction charges to withdraw cash from ATMs, giving a big relief to people in the middle of Corona crisis.
ATM transaction fees was reduced for three months. This rebate was given for only three months, which will end on 30th June 2020.
As things stand, then previous ATM withdrawal rules will be restored again from July 1. Different banks have different ATM withdrawal rules. So, bank customers are advised to reach out to their home branch bank customer care number and find out the rules in this regard.
SBI Bank ATM cash withdrawal rules
As per the information available on the official website of the State Bank of India (SBI) — sbi.co.in, in metro cities, SBI allows 8 free transactions to its regular savings account holders to transact in a month. Beyond this, customers are charged on each transaction.
SBI allows 8 free transactions to its regular savings account holders to transact in a month. These include free transactions from 5 SBI ATMs and 3 ATMs of any other bank. Non-metro cities get 10 free ATM transactions, in which 5-5 transactions can be made from SBI and other banks. It then levies Rs 20 + GST for cash transactions and Rs 8 + GST for non-cash transactions.