SBI changed the rules, now if the transaction failed from ATM, then penalty will have to be filled

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INDIA NEWS – The country’s largest bank SBI has changed the rules for withdrawing money from ATMs. Now if the customer does not have sufficient funds in his account and is withdrawing money from the ATM, then he will have to pay the penalty charge for the failed ATM transaction. ICICI, HDFC, Yes Bank, Kotak Mahindra, Axis Bank already have rules in force. Let’s know how much will have to be charged and what are the rules related to failures of RBI. Let’s understand these with 8 questions and their answers.

What fees will SBI charge you?

According to the SBI website, if there is insufficient balance in the account, the customer will have to pay Rs 20 as penalty charge and GST along with the transaction from the ATM. The bank will also charge for non-financial transactions.

What are the rules for free ATM transactions in SBI now?

SBI currently offers savings account holders 8 free transactions from ATMs in a month. You can do 5 transactions from ATMs of SBI and 3 from ATMs of other banks.

In non-metro cities, 10 free ATM transactions are available, 5 transactions can be done from ATMs of SBI and 5 transactions from ATMs of other banks.

What OTP will have to be put to withdraw 10,000 rupees from ATM?

OTP is required to withdraw 10 thousand or more rupees from SBI ATM. Now this service is available 24 hours at all ATMs of the bank. SBI launched the OTP service on January 1, 2020 to protect customers.

After this, whenever a customer withdraws 10 thousand or more money from the ATM, then they are asked to put OTP on the ATM screen. It comes on the registered mobile number of the OTP customer. The facility of OTP based cash withdrawal is currently available only at SBI ATMs. You can take advantage of this between 8 am and 8 pm.

What does the rule to fail transaction say?

In 2019, the Reserve Bank of India (RBI) made rules for banks regarding such failed transactions (for which the customer is not responsible). According to this, when you make a transaction from an ATM and it fails, then the customer gets a penalty charge, but this charge is only in those cases in which the ATM transaction fails due to customer mistake. It is not the customer’s fault for some ATM transactions failing. In such cases the customer is not charged, on the contrary, the banks have to pay compensation.

WORLD NEWS SUPERFASTINDIA NEWS – The country’s largest bank SBI has changed the rules for withdrawing money from ATMs. Now if the customer does not have sufficient funds in his account and is withdrawing money from the ATM, then he will have to pay the penalty charge for the failed ATM transaction. ICICI, HDFC, Yes Bank, Kotak Mahindra, Axis Bank already have rules in force. Let’s know how much will have to be charged and what are the rules related to failures of RBI. Let’s understand these with 8 questions and their answers.What fees will SBI charge you?According to the SBI website, if there is insufficient balance in the account, the customer will have to pay Rs 20 as penalty charge and GST along with the transaction from the ATM. The bank will also charge for non-financial transactions.What are the rules for free ATM transactions in SBI now?SBI currently offers savings account holders 8 free transactions from ATMs in a month. You can do 5 transactions from ATMs of SBI and 3 from ATMs of other banks.In non-metro cities, 10 free ATM transactions are available, 5 transactions can be done from ATMs of SBI and 5 transactions from ATMs of other banks.What OTP will have to be put to withdraw 10,000 rupees from ATM?OTP is required to withdraw 10 thousand or more rupees from SBI ATM. Now this service is available 24 hours at all ATMs of the bank. SBI launched the OTP service on January 1, 2020 to protect customers.After this, whenever a customer withdraws 10 thousand or more money from the ATM, then they are asked to put OTP on the ATM screen. It comes on the registered mobile number of the OTP customer. The facility of OTP based cash withdrawal is currently available only at SBI ATMs. You can take advantage of this between 8 am and 8 pm.What does the rule to fail transaction say?In 2019, the Reserve Bank of India (RBI) made rules for banks regarding such failed transactions (for which the customer is not responsible). According to this, when you make a transaction from an ATM and it fails, then the customer gets a penalty charge, but this charge is only in those cases in which the ATM transaction fails due to customer mistake. It is not the customer’s fault for some ATM transactions failing. In such cases the customer is not charged, on the contrary, the banks have to pay compensation.
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