People mostly think that when they open a bank account, they get an ATM card for free, but that is not true. Let us know what types of charges are levied on SBI ATM cards.
Many people use the ATM-cum-Debit Card of State Bank of India. However, very few people know about the various charges levied on it. They believe that when they open a bank account, they receive an ATM card free of charge, but this is not the case. Let’s explore the types of charges levied on SBI ATM cards.
1. Debit card issuance charge
According to the website of State Bank of India, there are three categories of charges for issuing a debit card.
Classic /Silver/Global/Contactless Debit Card – There is no charge for this.
Gold Debit Card – Rs 100 + GST
Platinum Debit Card – Rs 300 + GST
Read More: Holiday Week Ahead: Global Trends And FIIs’ Moves To Drive Stock Market Sentiment
2. Annual charge on debit card
There is an annual charge on all ATM cards or debit cards, which most banks call annual maintenance charges. This charge starts from the second year after opening the account. It differs for different types of cards.
Classic/Silver/Global Contactless Debit Card- Rs 200+GST
Yuva/Gold/Combo/My Card Debit Card- Rs 250+GST
Platinum Debit Card- Rs 325+GST
Platinum Business RuPay Card- Rs 350+GST
Pride/Premium Business Debit Card- Rs 425+GST
3. Debit card replacement charge
If your card is lost or stolen, a replacement fee is charged by the bank. You have to pay a charge of Rs 300 + GST to the bank.
4. International transaction charge
SBI levies charges on various ATMs and other transactions. For example, a simple balance inquiry at an ATM incurs a fee of Rs 25 + GST. Cash withdrawals, on the other hand, are subject to a minimum charge of Rs 100 per transaction, along with an additional fee of up to 3.5% of the transaction amount, plus GST. For international transactions and e-commerce purchases made using a POS machine, a 3% charge on the transaction amount, plus GST, is applicable.
