While the government is urging citizens to move towards a cashless economy, country's largest bank State Bank of India has announced revised service charges on online transactions and also for exchanging soiled notes at bank branches.
The charges are effective from Thursday, June 1, 2017, and here are the increased charges you will have to factor in.
1. ATM transactions:
Cash withdrawal from SBI's mobile app, State Bank Buddy, through ATM will now be charged Rs 25 per transaction. No charges will be levied on four ATM transactions in a month. Beyond four transactions, service charges will be levied on Basic Savings Bank Deposit account at Rs 20 plus service tax per transaction on other banks' ATMs and Rs 10 plus service tax per transaction on SBI's own ATMs. Other than that, normal bank accounts, such as the savings bank account, will continue to attract eight free ATM transactions in metros and ten free transactions in non-metros.