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SBI to do away with free ATM services

SBI has been on a spree of levying charges on customers for the services it provides.

Now, adding to the list of these charges being levied, SBI has come up with a decision to do away with free ATM services.

Now for every ATM usage, it will charge Rs. 25 for the service. This will come into effect on June 1.

SBI also has implemented charges for other services such as depositing cash in Cash Deposit Machine(CDM) and for exchanging old notes.

For depositing money through CDM it charges a minimum of Rs. 2 and maximum of Rs. 8. If one uses CDM to withdraw money he will behave give service charge of Rs. 6.

Also for exchanging old notes, the charge is deducted according to the no: of notesĀ or the value of money being exchanged, if the number of notes is more than twenty, then they will charge Rs.2 for each note being exchanged. For exchanging money more than Rs.5000, it charges Rs.5 for the service.

The cost for issuing chequebook for account holders the cost has been increased SBI recently, such that, for a cheque book with 10 cheque leaves costs a minimum of Rs.30 for a cheque book with 25 and 50 cheque leaves has a service tax of Rs.75 and Rs.150 respectively.

Also, they have announced that they will only give RuPay and Classic ATM cards for free.

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