Salary account customers currently get 10 free transactions a month at other banks’ ATMs and Automated Deposit and Withdrawal Machines (ADWMs), regardless of location. From October, that allowance will fall to five.
The five-transaction limit will cover both financial and non-financial transactions. That means cash withdrawals as well as services such as balance enquiries will count towards the same monthly allowance.
What happens after five transactions?
SBI isn’t changing the fees charged once customers exhaust their free allowance.
Cash withdrawals at another bank’s ATM beyond the five free transactions will cost ₹23 plus GST each. Non-financial transactions beyond the limit will continue to cost ₹11 plus GST.
So, the change is straightforward: salary account holders aren’t being charged more per transaction, but they will start paying those existing charges sooner.
For example, a customer making eight transactions at other banks’ ATMs in a month currently remains within the 10-transaction free allowance. From October, the final three transactions could attract charges, depending on whether they are financial or non-financial.
Who will be affected?
The revision applies specifically to SBI Salary Package Account holders using SBI debit cards at ATMs and ADWMs operated by other banks.
Free transaction limits and service charges for other SBI account categories will remain unchanged.
There is also no change to the existing limits or charges for SBI debit-card transactions carried out at SBI’s own ATMs and ADWMs.
Cardless withdrawals remain free
SBI’s cardless cash-withdrawal facility is also unaffected.
Cardless withdrawals at SBI’s own ATMs and ADWMs, as well as those operated by other banks, will continue without a transaction limit until further notice.
The change therefore primarily affects salary account customers who regularly use their SBI debit cards at other banks’ ATMs.
