Do you love to do online transactions? After demonetization, there are supreme changes in people to do cashless transaction or to do online money transaction. But seems SBI did not like us to make online transaction. SBI has introduced 5 new transaction charges which will not likable to many of us. These 5 major transaction charges includes IMPS, buddy wallet charges, cheque book charges etc. Below we have mentioned all these 5 major charges with proper explanation, take a look.
5 New SBI Transaction Charges – Effective from 2nd June, 2017
From 2nd June, 2017 onwards, SBI (State bank of India) has introduced 5 more charges and since SBI is largest bank in India, all bank are expected to follow these charges soon. Take a look at the newly introduced bank transaction charges as mentioned blow;
#1 Cash Withdrawal charges
If you have SBI saving account (Basic savings banks deposit account), you will now get only 4 free cash withdrawal chance. From 5th withdrawal, you need to pay Rs.50 per cash withdrawal from sbi branch. Same applies to SBI atm withdrawal as well; you will get 4 withdrawal facilities for free. From 5th ATM withdrawal, you need to Pay Rs.10 per transaction at SBI ATMs and Rs.20 for non-SBI ATMs.
These charges are applicable to BSBDA account holder, while the normal saving account holder will get 10 free ATM withdrawal in non-metro cities and 8 free ATM withdrawals in Metro locations.
#2 Cheque book Issue Charges
Now onwards, if you issue 10 leaflet cheque book, you will be charged Rs.30 (plus Tax) and Rs.75 for 25 leaflet cheque book. While the cheque book with 50 leaflet will be charged Rs.150 (plus tax).
#3 Charges on IMPS Transactions
Are you doing online money transfer using IMPS, well here is bad news for you. From now onwards, you need to pay Rs.5 extra for online transfer of Rs.1 lakh, Rs.15 for Transaction of Rs.1 lakh to Rs.2 lakh. And Rs.25 IMPS transaction charges for transferring Rs.2 to 5 lakh.
So, if you are inspired to do digital transaction after demonetization, here is Demotivational news for you.
#4 Bank Correspondents charges
From now onwards, 0.25% will be charged on deposit of Rs.10000 using a bank correspondent (which is Rs.2 minimum and Rs.8 maximum). And for withdrawal using bank correspondents is 2.5% (minimum Rs.6).
#5 Charges on SBI buddy wallet Usage
If you are using sbi buddy wallet, you will be charged Rs.25 per ATM withdrawal. This is too much charge, hope no other bank follow this.
So, these are the 5 new charges introduced by RBI and applied by SBI. Do let us know your view on new charges. Thank you!