Many people use the ATM-cum-Debit Card from the State Bank of India (SBI), but few are aware of the various charges that apply. Many assume that the ATM card is free when they open a bank account, but that’s not the case. Let’s take a closer look at the charges associated with SBI ATM cards.
1. Debit Card Issuance Charge
According to SBI’s website, there are three categories of charges for issuing debit cards:
- Classic/Silver/Global/Contactless Debit Card: No charge.
- Gold Debit Card: ₹100 + GST.
- Platinum Debit Card: ₹300 + GST.
2. Annual Maintenance Charge for Debit Cards
All ATM cards incur an annual charge, commonly referred to as an annual maintenance fee, which starts applying from the second year after opening the account. The charges vary based on the card type:
- Classic/Silver/Global Contactless Debit Card: ₹200 + GST.
- Yuva/Gold/Combo/My Card Debit Card: ₹250 + GST.
- Platinum Debit Card: ₹325 + GST.
- Platinum Business RuPay Card: ₹350 + GST.
- Pride/Premium Business Debit Card: ₹425 + GST.
3. Debit Card Replacement Charge
If your card is lost or stolen and you request a replacement, you will have to pay a charge of ₹300 + GST to the bank.
4. International Transaction Charge
The charges for international transactions can vary based on the situation. For instance:
- If you only check your balance at an ATM, you’ll incur a charge of ₹25 + GST.
- Withdrawing cash from an ATM incurs a fee of at least ₹100 + 3.5% of the transaction amount + GST.
- For international transactions on a POS machine or e-commerce, you’ll pay 3% of the transaction amount + GST.
Understanding these charges is crucial to avoid unexpected deductions from your account. Always read the terms and conditions associated with your SBI ATM card to stay informed!
