SBI Waives ATM Transaction Charges Nationwide Ahead of 3-Day Bank Strike

NEW DELHI: In a major relief to millions of account holders ahead of a nationwide bank strike, the State Bank of India (SBI) announced the waiver of all ATM transaction charges for cash withdrawals across the country. The fee exemption will remain effective from September 28 through September 30, allowing customers to draw cash without incurring additional fees at any automated teller machine, regardless of the operating bank.

The decision comes as public sector bank employee unions, under the United Forum of Bank Unions (UFBU), prepare to observe a three-day strike demanding a five-day workweek. To minimize public inconvenience and safeguard smooth financial access, SBI reiterated that its digital channels—including YONO, internet banking, mobile applications, UPI, NEFT, and RTGS—along with 24×7 customer support, will remain fully operational throughout the strike period. While SBI branches are slated to remain open, the lender advised customers to complete urgent in-person transactions in advance to avoid potential delays caused by reduced staff strength.

The waiver comes at a crucial juncture as financial services face heightened disruption leading into the end of the month, compounded by the upcoming national holiday for Gandhi Jayanti on October 2. To soften the impact on retail banking, the Department of Financial Services (DFS) directed all public sector banks and regional rural banks to remain open on Sunday, September 27, though bank employee organizations have raised strong objections to the Sunday working order and requested compensatory leave with double pay.

Union representatives warned that if their core demands regarding a five-day workweek, pension updates, and performance-linked incentive (PLI) schemes remain unaddressed by the ministry, bank workers will launch an indefinite nationwide strike starting October 26.