Many people do not have a proper understanding of the services, affairs and charges of banks. This will result in loss of certain services and additional cost of money. Many bank customers think that just by opening an account, they will get an ATM card for free. But different charges are applicable on these. These depend on banks and ATM card types. State Bank of India (SBI), the country's largest public sector bank, recently revised its ATM card service charges. Let's know about the newly implemented SBI ATM card charges.
Debit Card Issuance Charges
SBI issues certain types of debit cards free of charge. But some other cards are subject to issuance charges. According to the official website of State Bank, there are no issuance charges for Classic, Silver, Global, Contactless Debit Cards. Rs.100 + GST applicable for Gold Debit Card. Also for Platinum Debit Card you have to pay Rs.300 + GST extra. These charges are applicable only when the card is first issued.
International Transaction Charges
State Bank also charges charges for international transactions made through debit cards. Rs.25 + GST for balance inquiry at ATM. A charge applies each time a balance is checked. For same cash withdrawal Rs.100 + up to 3.5% of transaction amount + GST per withdrawal transaction. International and e-commerce POS transactions are subject to 3% + GST of the transaction amount. These charges are applicable for transactions conducted outside India or on international websites.
Debit Card Replacement Charge
A customer has to get a new card if their ATM card is lost or stolen. SBI will charge some fee for card replacement. Users have to pay Rs.300 + GST under ATM replacement charge.
Annual Maintenance Charge
From the second year of account opening, State Bank charges an annual maintenance fee on the use of ATM-cum-debit card. This amount depends on the type of card. Rs.200 + GST for Classic, Silver, Global, Contactless Debit Cards. The same is applicable for Yuva, Gold, Combo, My Card Debit Cards of Rs.250 + GST. Platinum Debit Card Rs.325 + GST, Platinum Business RuPay Card Rs.350 + GST. Pay Rs.425 + GST for more Pride and Premium Business Debit Cards. Customers should be aware of these fees before taking the card.
