SBI ATM Rules From October 1: Free Transactions for Salary Account Holders Cut to 5 at Other Banks’ ATMs

The State Bank of India (SBI) has reduced the number of free monthly transactions available to Salary Package Account holders using SBI debit cards at other banks’ ATMs and Automated Deposit-cum-Withdrawal Machines (ADWMs), from the 1st of October.

As per the revised rules, eligible customers will get five free transactions a month, down from the earlier limit of 10.

The revised limit is applicable to all variants of SBI Salary Package Accounts across all centres. It covers both financial and non-financial transactions, including cash withdrawals, balance enquiries and mini statements. Customers who exceed the free monthly limit will have to pay charges for additional transactions.

SBI ATM Charges for Salary Package Account Holders

Under the revised rules, salary account holders making transactions at other banks’ ATMs and ADWMs will be subject to the following charges after exhausting their five free monthly transactions:

For Financial transactions, including cash withdrawals a Rs.23 plus GST and all the Non-financial transactions, including balance enquiries and mini statements Rs. 11 plus gst will be applicable. SBI has given five free transactions per month at other banks’ ATM.

Second Reduction in Free ATM Transactions

The latest change marks another tightening of ATM transaction rules for SBI Salary Package Account holders. According to earlier reports, these customers previously enjoyed unlimited free transactions at other banks’ ATMs. SBI subsequently introduced a cap of 10 free transactions, along with revised charges, in December.

The latest reduction from 10 to five free transactions further limits the number of times salary account holders can use other banks’ ATMs without incurring fees.

What Remains Unchanged for SBI Customers?

The revised rules are limited to SBI Salary Package Account holders using SBI debit cards at other banks’ ATMs and ADWMs. Customers can continue to make unlimited free transactions at SBI ATMs, as per the existing rules.

There is no reported change to the ATM transaction limits applicable to other regular SBI savings account holders. Charges for cardless cash withdrawals at SBI and other banks’ ATMs and ADWMs also remain unchanged.

Customers should note that the revised limit does not apply to every SBI account holder. It specifically concerns eligible Salary Package Account holders using SBI debit cards at machines operated by other banks.

BSBD Account and AePS Transaction Charges

Separate transaction rules also apply to Basic Savings Bank Deposit (BSBD) accounts. Reports indicate that Aadhaar-enabled Payment System (AePS) transactions are included in the applicable transaction limits, with additional usage attracting charges ranging from Rs. 15 to Rs. 23, plus GST, depending on the transaction and account category.

For BSBD account holders, withdrawals beyond the applicable free limit may attract a charge of Rs. 15 plus GST. For Salary Package Account holders, additional financial transactions beyond the revised five-transaction limit at other banks’ ATMs may attract a charge of Rs. 23 plus GST.
The exact free transaction allowance for BSBD accounts should be checked against SBI’s official terms and conditions, as the original bank circular detailing the revised provisions was not available in the reports reviewed.

How Can SBI Customers Avoid Additional ATM Charges?

SBI Salary Package Account holders can avoid additional charges by planning their ATM withdrawals and keeping track of their monthly transactions at other banks’ machines. Customers can also use SBI ATMs, where unlimited free transactions continue to be available under the stated rules, or consider digital banking options such as UPI and mobile banking for eligible payments and account services.