FINANCE

SBI customers can withdraw more cash than their daily ATM Card limit! Here’s how

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The customers of State Bank of India can withdraw more than their daily withdrawal limits by using SBI Debit Card as well as YONO Cash facility together. Currently, there are different withdrawal limits through YONO Cash and Debit Card.

However, SBI customers are free to make the most of both facilities. SBI allows customers to withdraw cash from its ATM without the ATM/Debit Card with “YONO Cash” facility. This facility helps those account holders who do not have ATM Card and need to visit the bank’s branch for withdrawing cash. It also helps those who are concerned about rising incidents of ATM card cloning and try to avoid using ATMs for cash withdrawal.

With YONO Cash, SBI provides a card-less cash withdrawal facility through its YONO platform. The customer needs to generate a transaction number through the YONO platform to withdraw money from select ATMs, which have been enabled for ‘YONO Cash’ facility, within 30 minutes.

For all SBI customers who use ATM card for cash withdrawal, there is a limit on the number of times they can withdraw money without paying any charge. There is also a limit on maximum withdrawals through Debit Card.

Naturally, hence, a question arises as to whether withdrawals through YONO Cash facility will be considered for counting maximum cash withdrawals at ATMs. SBI recently replied to this query on Twitter, saying that the maximum permissible limit and the number of withdrawals under YONO CASH is above the limits using Debit Cards.

“Under YONO Cash, the maximum permissible limit and number of withdrawals using YONO Cash will be over and above the existing limits permitted for cash withdrawal using Debit Cards,” SBI said through its official Twiter handle.

From the above, it is clear that SBI customer customers, who are using both YONO Cash and Debit Card, can make more free withdrawals than those who only use Debit Card or YONO Cash for withdrawal. 

SBI ATM withdrawal limit

Currently, the maximum daily cash withdrawal limit on SBI’s Classic Debit Card is Rs 20,000 and the maximum daily payment limit with at PoS or e-commerce sites is Rs 50,000. For cards requiring average monthly balance (AMB) up to Rs 25,000, SBI allows three free transactions per months at other bank ATMs in six metro centres and five transactions at other centres. At SBI ATMs, five free transactions are allowed.

SBI YONO Cash Withdrawal limit

Under YONO Cash facility, customers can withdraw minimum Rs 500 (in multiples of Rs 500) and maximum Rs 20,000 from an account in a day. There is a ceiling of Rs 10,000 per transaction.

Source :

msn

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