State Bank of India - Digital Services charges to be withdrawn
Posted on: 12/Jul/2019 6:35:27 PM
The leading public sector bank in the country, The State Bank of India has announced the cheerful news of withdrawing the service charges for all mobile banking and net banking services!
This is mainly with the objective to encourage cashless transactions.
As per the announcement released by the State Bank of India on 3rd March, it was informed that SBI had 6 Crores of customers who used the net banking service. Further, there were 1,41 Crores of customers who availed the mobile banking services. It was also found that 18% of SBI market share transactions are done through mobile banking.
Further, a detailed review was undertaken regarding the customers using SBI’s Digital APP ‘YONO’. With this review, the service charges that were being collected so far for all transactions under NEFT (National Electronic Funds Transfer), IMPS (Immediate Payment Service), and RTGS (Real-Time Gross Settlement) to be withdrawn. Accordingly, these service charges for NEFT, IMPS, RTGS are now withdrawn! It is worth noting here that if these transactions are carried out in the bank’s branches, a 20% concession could be availed.
