Bank ATM cash withdrawal rules are going to change from 1st July. This is because norms that were relaxed during lock-down are going to be tightened – the deadline is 30th June 2020. If there is no extension announced, then the old ATM withdrawal rules will get reinstated. So, it will be better to say that the old rules are going to be implemented again.
Different banks have different ATM withdrawal rules. So, bank customers are advised to contact their home branch bank customer care number and find out the rules in this regard.
Since, State Bank of India or SBI is the largest Indian commercial bank, here we explain how ATM withdrawal rules will change for account holders from 1st July 2020. As per the information available on the official website of the SBI — sbi.co.in, in metro cities, SBI allows 8 free transactions to its regular savings account holders to transact in a month. Beyond this, customers are charged on each transaction. These include free transactions from 5 SBI ATMs and 3 ATMs of any other bank. Non-metro cities get 10 free ATM transactions, in which 5-5 transactions can be made from SBI and other banks. It then levies Rs 20 + GST for cash transactions and Rs 8 + GST for non-cash transactions.