SBI Revises ATM Transaction Rules: What Customers Need To Know

State Bank of India (SBI) has revised the rules for its savings account ATM transactions, from February 1, 2025. The revision includes a slab on free use of ATMs and increased charges for crossing monthly limits on transactions. All savings account holders are now entitled to receive 5 free transactions at SBI ATMs and 10 free transactions at other bank ATMs, as per the new policy. These are regardless of the average monthly balance (AMB) of the customer or even geographical location.

But free transactions at other bank ATMs have been fixed at 5 per month for customers holding an AMB between Rs 25,000 and Rs 1,00,000. Customers whose balance is more than Rs 1,00,000 will still enjoy unlimited free ATM transactions across all the networks.

Once customers exhaust their free transaction limit within a month, charges will be levied depending on the ATM. SBI will charge Rs 15 including GST per transaction at SBI ATMs and Rs 21 including GST per transaction at other bank ATMs. The charges will be for financial transactions such as a withdrawal or a fund transfer.

For non-monetary transactions like balance checks or mini statements, there will be no charge even after going over the free limit at SBI ATMs. However, equivalent services conducted at other banks' ATMs will cost Rs 10 plus GST per transaction. Again, non-monetary financial transactions like trust donations done at SBI ATMs will be free, though these are not available at other banks' ATMs.

In case of a failed transaction due to insufficient balance, the fine remains Rs 20 along with GST.

In another development, the Reserve Bank of India (RBI) has revised the limit on the highest ATM withdrawal fee to Rs 23 per transaction from Rs 21, effective May 1, 2025. Accordingly, SBI account holders exceeding their free limit of withdrawals would now expect this new fee from May.

The revision of the rule is a move to make ATM use more streamlined and fee-conforming to regulatory guidance while encouraging more electronic methods of banking. Consumers are encouraged to review their balance and monthly use to avoid unnecessary charges.