SBI ATM Withdrawal Limit Per Day: State Bank of India customers can get cash up to Rs 1,00,000/day; Here's how
SBI cash withdrawal limit per day 2018: Come October 31, a large number of SBI customers will not be able to withdraw more than Rs 20,000 from ATMs in a day.
SBI cash withdrawal limit per day 2018: Come October 31, a large number of SBI customers will not be able to withdraw more than Rs 20,000 from ATMs in a day. This means, such customers will have to start decreasing their dependence on cash and instead, switch to digital payments tools. If your daily cash usage exceeds Rs 20,000, you may be considering to switch your account to other banks that are allowing large cash withdrawals. However, you don't have to that. You can withdraw a higher amount of cash at SBI, by just switching your debit card.
The cash withdrawal restriction will apply only for Classic and Maestro variants of SBI debit cards. Those who want to withdraw more can apply for a higher variant card. "Daily cash withdrawal limit for Classic and Maestro debit cards has been reduced from Rs 40,000 to Rs 20,000 per day with effect from October 31. If you require higher daily cash withdrawal limit, please apply for a higher card variant," SBI had told in a statement to debit card holders on its website.
Types of cards offered by SBI; Cash withdrawal limits
Apart from Classic and Maestro debit cards, SBI offers several cards with high cash withdrawal limit. These are:
- SBI Silver International Debit Card: This can be used for shopping at over 5 lakh merchant outlets in India, and over 30 million worldwide; Maximum cash withdrawal limit: Rs 40,000/day; Online/PoS payment - Rs 75,000 per day.
- SBI Global International Debit Card: This can be used for shopping at over 6 Lakh merchant outlets in India, and over 30 million worldwide. Maximum cash withdrawal limit - Rs 40,000/day; Maximum shopping limit - Rs 75,000/day.
- SBI Gold International Debit Card: Maximum cash withdrawal limit Rs 50,000/day; Maximum shopping limit Rs 2 lakh/day
- SBI Platinum International Debit Card: Maximum cash withdrawal limit Rs 1,00,000/day; Maximum shopping limit Rs 2,00,000.
- SBI MUMBAI Metro Combo Card: Maximum cash withdrawal limit - Rs 40,000; Maximum shopping limit Rs 75,000; Card to card transfer limit Rs 15,000 per day.
- sbiINTOUCH Tap & Go Debit Card: Maximum cash withdrawal limit - Rs 40,000; Maximum shopping limit Rs 75,000;
PTI had earlier quoted SBI Managing Director PK Gupta as saying that the cash withdrawal limit was announced to protect customers from fraudulent cash withdrawals from ATMs and also to spur more digital transactions. "We analysed all the ATM transactions and we found that most of them are less than Rs 20,000 a day. In case of frauds reported to us, we found that in all such cases withdrawals of Rs 40,000 (the maximum) have happened. So this is basically to protect the customers and secondly, we want that more such (digital) transactions should happen," Gupta had said.