In an important notification issued by State Bank of India, if you have an account in SBI then you will be able to transact your money for four times without any charge including ATM transactions. If a person transacts its money for the 5th time from any SBI branch then he/she will have to pay a charge of 50 Rs with additional charges.
Likewise, if a person transacts its money via ATM for the 5th time then he/she will be charged with Rs 10 if a transaction is from SBI ATM and Rs 20 from other bank’s ATMs with additional service tax charges.
It means now you can transact money for free only for 4 times. This new rule has started from today, i.e June 1, 2017. Moreover, there is also change in the charges of different sources of fund transfers such as Internet Banking, Mobile Banking, UPI and USSD. According to that, if a person tranfers its money upto 1 Lakh Rupees then he/she will be charged with Rs 5 along with service tax.
On a transaction of Rs 1 Lakh to 2 Lakh, a user has to pay 15 Rs as a charge whereas from Rs 2 Lakh to 5 Lakh he /she will be charged with Rs 25. Now SBI will give only Rupay Debit Card for free, a user has to pay a fee for having Master and Visa Card. SBI has also made changes in the fee of ‘Wallet Buddy’.