New Delhi- Everyone uses banking services. These facilities are available both online and offline. Whether it is SMS transactions, IMPS money transfer, check clearing, or ATM withdrawal facilities, none are completely free. For all services, the bank certainly takes some fee from its customers. Let us tell you about those seven services for which money is collected from your pocket.
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Every bank provides cash transaction facility, but such transaction can only be conducted with a certain limit. If you make more cash transactions than this fixed limit, you have to pay a fee for it. These fees vary for each bank according to their rules. Usually in a government bank it ranges from 20 to 100 rupees.
The balance in the bank account must be maintained up to a certain limit. If you have less than this amount in your account, you must pay a minimum balance fee. For example, it is necessary to have a minimum balance of 10,000 in the account in HDFC Bank, if the amount is less than that, you will be charged for it. The minimum balance in all banks is different from the minimum balance if not maintained.
All banks have made NEFT and RTGS transactions free for customers, but most banks still charge IMPS transaction fees. These fees can range from 1 rupee to 25 rupees.
If your check is up to Rs 1 lakh then you do not have to pay any fee to the bank, but more than that, you have to pay the clearing fee. This fee is 150 rupees. On the other hand, if we talk about checks, only 10 checks are provided for free by SBI for savings account, for more checks you have to pay for.
Also, ATM cash withdrawals are available for free only for a specified period of time. The bank charges a fee for the number of transactions that exceed the specified number. The amount charged by each bank varies. Most of the banks charge up to 20-50 rupees for this.
The bank sends you an alert message when funds are deposited or debited to your account. Banks also charge you for this. But most people do not know about it because this charge is very small. It is around Rs 5 per month at Axis Bank and Rs 15 per quarter at ICICI. Therefore, fees vary for different banks.
If you lose your debit card, you will have to pay a fee to get another card. These fees can range from 50 rupees to 500 rupees. Different fees have been set by each bank.