SBI Changes ATM Rules For Its Debit Card:5 Things To Know

SBI Changes ATM Rules For Its Debit Card:5 Things To Know 

SBI customers using the bank's classic debit card will now be able to take out a maximum of Rs 20,000 from ATM in a day, instead Rs 40,000 per day.


SBI ATM daily limit: The bank has capped the withdrawal from its classic debit card to Rs 20,000 per day

State Bank of India (SBI) will allow cash withdrawals of up to Rs 20,000 a day from its classic debit card. From October 31, a daily withdrawal limit of Rs 20,000 will be applicable to the bank's classic debit card, as against Rs 40,000 at present, according to a report by news agency Press Trust of India.

Here are five things to know about new ATM limits applicable to SBI debit cards:


1. When will new limits be applicable? The new limit on the classic debit card will take effect on October 31, according to the agency.


2. Limits applicable to other cards: There is no change in the daily withdrawal limits applicable to other cards.

3. The SBI classic debit card, the agency reported, is the most popular ATM-cum-debit card provided by the bank.


4. This card variant is not chip-based and so there are concerns about its security, Press Trust of India cited a senior bank official as saying.


5. Meanwhile, SBI provides free-of-cost upgrade of debit card to its customers. The upgrade of existing debit card to an EMV chip-and-PIN debit card offers enhanced security, according to the bank.