State Bank of India has implemented revised charges for ATM and Automated Deposit-cum-Withdrawal Machine (ADWM) transactions at other banks' ATMs, effective December 1, 2024. The changes mark the lender's first adjustment to ATM charges since February 2024, primarily affecting customers who exceed prescribed free transaction limits at non-SBI ATMs.

Revised Fee Structure

The bank has increased charges for transactions beyond the free limit at non-SBI ATMs. The revision follows a review of ATM service pricing after an increase in interchange fees.

Non-financial transactions include services such as balance enquiries and mini statements. Charges for transactions at SBI's own ATMs remain unchanged under the revised structure.

Impact on Different Account Types

Regular Savings Accounts

Savings account holders continue to enjoy the same free transaction benefits as before. The bank maintains five free transactions per month at non-SBI ATMs across all locations, covering both financial and non-financial services. The revised charges apply only after customers exceed this monthly limit.

Salary Package Accounts

State Bank of India has introduced a significant change for salary package savings accounts by implementing a transaction cap. These account holders are now entitled to 10 free transactions per month at non-SBI ATMs across all centres, replacing the previous unlimited free usage policy.

Unaffected Services and Accounts

Several customer categories and services remain outside the scope of the fee revision. Basic Savings Bank Deposit (BSBD) accounts maintain their existing charge structure without any changes. Transactions conducted using SBI debit cards at SBI ATMs continue to be free as per existing rules.

Additionally, cardless cash withdrawals at SBI ATMs remain unlimited and free for all customers. Kisan Credit Card (KCC) account holders are not impacted by the revised fee structure and continue to operate under previous terms.

Implementation Timeline

The revised charges became effective from December 1, 2024, applying to all eligible transactions conducted after this date. The bank cited the increase in interchange fees as the primary reason for implementing these changes, reflecting broader industry cost adjustments in ATM services.

State Bank of India , India's largest state-owned lender, has announced revised charges for ATM and Automated Deposit cum Withdrawal Machine (ADWM) transactions. The updated fee structure will impact customers who use other banks' ATMs beyond their allocated free transaction limits.

Revised Transaction Charges

The new charge structure affects multiple account categories offered by the bank. Customers with savings accounts, salary packages, and current accounts will need to review their ATM usage patterns to understand the financial implications of the revised rates.

Impact on Customer Transactions

The revision specifically targets transactions conducted at ATMs belonging to other banks. Customers will face the new charges when they exceed their free transaction limits for both cash withdrawals and non-financial services. This change represents a significant policy update for State Bank of India's extensive customer base.

Service Categories Affected

The updated charges apply to various ATM services beyond basic cash withdrawals. Non-financial transactions, which include balance inquiries and mini-statements, will also be subject to the revised fee structure when conducted at other banks' ATMs.

Customers are advised to review their current ATM usage patterns and consider utilizing State Bank of India's own ATM network to minimize additional charges. The bank's decision reflects ongoing adjustments in the banking sector's fee structures for electronic transactions.