Day: May 15, 2018

Good News for customers! SBI allows cash withdrawal through PoS machines, no charges applicable

Good News for customers! SBI allows cash withdrawal through PoS machines, no charges applicable

Buzz
Amid the ongoing difficulties of cash crunch being faced in various states of India, the country’s biggest lender, State Bank of India (SBI) has come up with an alternate and convenient method of cash withdrawal for its customers. The bank has said that it is now providing facilities of cash through ‘Cash@POS’ initiative. Under this, the debit card holders of SBI and all other banks can withdraw cash from PoS machines installed by SBI across various merchant locations. The bank has said that a customer can withdraw Rs 1000 in Tier I and Tier II cities whereas Rs 2000 can be withdrawn in Tier 3 to Tier 6 cities per day per card. Presently, the bank will not be charging any fees for these withdrawals. SBI has a total of 6.08 lakh PoS machines of which 4.78 lakh PoS machines are enabled to