There is a good news for the
State Bank of India (
SBI) customers who maintain a balance of more than Rs 25,000. SBI customers can now avail unlimited ATM transactions at its home ATM if they maintain this balance in their account.
However, those customers who have a balance of less than Rs 25,000, will be allowed four free transactions from its home ATM. For third-party ATMs, the number of transaction has been limited to three.
In August, the Reserve Bank of India (
RBI) had said, “The number of free ATM transactions for savings bank account customers at other banks' ATMs would be reduced from the present five to three transactions per month (inclusive of both financial and non-financial transactions) for transactions done at the ATMs located in six metro centres – in Delhi, Mumbai, Chennai, Bangalore, Kolkata and Hyderabad. A fee of up to Rs 20 would be charged for using ATMs beyond the permitted number of transactions, it had said.
This directive comes into effect from November 1, 2014.
“Banks are also free to decide on the combination for metro and non-metro locations of free transactions while adhering to minimum requirements,” the RBI notification said.
