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Make sure you have money in your account, or you will lose what you have; SBI amends policy….

State Bank of India revises ATM withdrawal policy. Try to withdraw money only after making sure that there is money in the account. The new policy is to lose what you have. If you try to withdraw more than the amount in the account, money will be lost.

GST will be levied on the customer in addition to Rs 20 for each transaction that fails to be withdrawn in this manner. ATM customers can withdraw more than Rs 10,000 with the help of a one-time password. However, if the transaction exceeds the limit, the bank will have to pay an additional charge of Rs 10 plus GST or up to Rs 20 plus GST.

At present, customers can withdraw money up to eight times a month for free from five SBI ATMs and other ATMs in metro cities. With the new policy change, there is a system to know how much money is in the account without the help of internet. If you call or send an SMS to the mobile number 9223766666 as ‘Balance’, you will know the balance.

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