Many people use ATM-cum-Debit Card of State Bank of India. However, very few people know about the various rates charged on it. They believe that when they open a bank account they get an ATM card for free, but this is not the case. Let’s check the types of fees charged by SBI ATM cards.
1. Debit card issuance fee
According to the Reserve Bank of India website, there are three categories of debit card issuance fees.
Classic/Silver/Global/Contactless Debit Card – No charge for this.
Gold Debit Card – Rs 100 + GST
Platinum Debit Card – Rs 300 + GST
2. Annual payment on the bank card
There is an annual fee for all ATM cards or debit cards, which most banks call an annual maintenance fee. This payment starts in the second year after opening the account. It is different for different types of cards.
Classic/Silver/Global Flawless 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 fee
If your card is lost or stolen, the bank charges a fee to replace it. You have to pay a fee of Rs 300 + GST ​​to the bank.
4. Payment of foreign transactions
SBI payments at 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, plus a surcharge of up to 3.5% of the transaction value, plus GST. For international transactions and e-commerce purchases made using a POS machine, a charge of 3% of the transaction value, plus GST, applies.