Big news for SBI customers: Banks change rules over money withdrawals ... Customers can withdraw cash from ATMs as many times a month for free

State Bank of India has changed the rules on withdrawals from ATMs from July 1. If a customer does not comply with SBI's rules, they may have to pay a hefty fine. SBI's official website, sbi.co.in, also reported this. According to the bank, SBI is allowing Metro City's savings account holders to make free payments from ATMs four times a month and charging customers for each transfer if they cross the threshold of this free transaction.

This means that SBI allows savings account holders to make free transactions only four times a month. This includes 5 SBI ATMs and the other 3 withdrawals from any other bank ATM. Similarly, in non-metro cities, customers can make a maximum of 10 free transactions from ATMs. You can withdraw money from SBI ATMs 5 times and the other 5 times from other bank ATMs. However, if the transaction fails due to a lack of balance in the customer's account, the GST will be levied on the SBI account holder with a fee of Rs 20.

SBI added that more than 10,000 cash withdrawals from ATMs had been changed. If you are withdrawing more than Rs 10,000 from an SBI ATM, you will need an OTP. However, the new facility has been in effect since January 1 this year.

According to the bank, OTPs will require account holders to withdraw cash from SBI ATMs from 9pm to 9am. So the bank will only get this facility from SBI ATMs. If you are withdrawing money from another bank ATM, you can withdraw money as easily as before. You don't need any OTP for this.

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