Banking Service / Extra ATM Transactions to Attract Charges as SBI to Revise ATM Rules from October 1

New Delhi, Sep 8: India’s largest public sector bank, State Bank of India (SBI), has announced significant changes to ATM transaction rules for its customers, effective from October 1.

The new regulations will particularly impact holders of savings, salary, and Basic Savings Bank Deposit (BSBD) accounts.

Under the revised guidelines, BSBD account holders will be allowed only four free ATM transactions per month. Beyond this limit, each additional transaction will attract a charge of ₹15 plus GST.

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Importantly, Aadhaar Enabled Payment System (AePS) transactions will now be counted within the free monthly limit, a departure from the earlier practice where AePS transactions were excluded.

AePS allows customers to withdraw cash and access banking services using their Aadhaar number and biometric authentication, without requiring a debit card or ATM PIN.

For salary account holders, the changes are more pronounced. Currently, they enjoy 10 free ATM transactions per month. From October, this will be reduced to five free transactions, covering both financial (cash withdrawals) and non-financial services (balance inquiry, mini statements).

Once the free limit is exhausted, customers will be charged ₹23 plus GST for financial transactions and ₹11 plus GST for non-financial transactions.

SBI has urged customers to be mindful of their monthly transaction limits to avoid unnecessary charges. Frequent use of ATMs for balance checks or mini statements could quickly exhaust the free quota, leading to additional costs.

The move is aimed at rationalizing ATM usage and encouraging customers to adopt digital banking channels. With these changes, SBI joins other banks in tightening free transaction limits while introducing charges to manage operational costs.

Customers are advised to track their ATM usage closely from October 1, 2026, to avoid unexpected deductions.