State Bank of India, the name itself is enough to drag the attention of people availing different banking facilities. The world’s largest bank is well-known for its various financial services. SBI delivers efficient Merchant Acquiring services to both new merchants and existing services.
SBI introduced the POS services. POS services helped all the existing as well as non-existing customers to get the best benefits of SBI Merchant Acquiring Services. The service further enables the customers to swipe their Visa/MasterCard/RuPay cards for cash withdrawal at various POS terminals or PIN Pads.
SBI activates this service for Identified merchants or even on request of merchants. Under such scenarios, few charges are applicable during the use of the SBI POS swiping machine. The POS terminals or devices are such designed that it should fulfill the customer’s needs.
The machine provides PSTN, Portable GPRS, Mobile POS, Desktop GPRS, Biometric Portable GPRS, Biometric desktop GPRS, Biometric PSTN and Electronic Case register based Terminals. The charges are therefore implemented to make services more efficient.
The applicable charges of using SBI POS Swipe Machine 2018
- As per the RBI rules, the cardholder has to pay 1% of the amount swiped from the State bank Group Debit Cards with minimum charges of Rs. 7.50 and a maximum amount of Rs.10 per transaction.
- For using Debit cards of other banks with SBI POS machine, the cardholder would have to pay certain charges to their bank.
- The cardholder does not have to pay any extra fees to the merchant.
- While carrying out the transaction in the SBI POS terminal, the merchant gets an amount if Rs. 5 per transaction which is beneficial to the merchant.
- As per the rule, the customer is only allowed to depart with the cash after getting the print out of the charge slip produced by the SBI Cash POS machine.
SBI POS Swipe Machine Daily Withdrawal limits 2018
The merchants can just accept the debit cards issued in India and receive the request of disbursing maximum of Rs 1000 and minimum amount of Rs 100 per card per day.
The SBI Cash POS terminals are implemented to bring out the ease in the business transactions. The POS machine also acts as ‘Chhota ATM‘. The service also adds up to the business by increasing the sales of the merchants with the growing access rates at the business point!
If you need a POS Machine at your store, you need to contact the nearest branch and submit a request letter.