If you are using the debit card of the country’s largest public sector bank, SBI ie State Bank of India, this news is very important to you. State Bank of India has issued new rules relating to ATM transactions. Under the new rule, you will have to pay a penalty if the transfer fails. This means that when your account is outstanding and the transaction fails, you now have to pay the penalty.
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According to the new rules of the bank, if the business fails due to lack of funds, the bank will have to pay Rs. Fines and collects separate GST for account holders. By the way, if you want to avoid this penalty, you need to know the balance in your account. You have two options for this. Missed call and SMS facility.
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By the way, you can also find balance by calling customer care. It is always best to check your balance before withdrawing from the ATM. SBI allows its general savings account holders up to 8 free transactions per month in Metro City. These include free transactions with 5 SBI ATMs and 3 ATMs of any bank. This leads to higher transaction fees.
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