SBI links free ATM usage to balance, branch visits

SBI said that it will limit the number of branch withdrawals to four a month for those maintaining balances of up to Rs 25,000. MUMBAI: The country's largest lender State Bank of India (SBI) has reviewed its ATM usage charges, allowing more free transactions to those who avoid visiting its branches, and unlimited transactions for those with large balances. 

In its latest directive on ATM charges applicable from November 1, SBI said that it will limit the number of branch withdrawals to four a month for those maintaining balances of up to Rs 25,000. 

For customers maintaining an average monthly balance of Rs 25,000 and above, the bank will provide unlimited usage of its own ATM network, but will limit access to third-party ATMs to three transactions a month. The bank will also increase the number of free transactions on its home network from five to nine if the customer does not visit a branch during the month. 

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