Banking service charges
Nowadays everyone uses banking service whether online or offline. Whether to transfer money, clear checks or to withdraw cash from ATM, the banking system has become a part of our life. But have you ever noticed that every year how much money is deducted from your account only in the name of ‘Charges’? Banks have a big impact on your pocket by paying many small fees and we do not even know. Let’s know what these charges are.
Charge on cash transaction
Most banks provide free facilities only to a fixed extent of cash deposits or withdrawal. As soon as you do more transactions than that limit, the bank charge a fee of 20 to 100 rupees. This charge is applied every time, so if you withdraw cash several times a month, then it can be heavy on the pocket.
Penalty for not keeping minimum balance
If there is no minimum balance in your account, then the bank cuts penalty every month. This amount can range from Rs 50 to Rs 600, which depends on the rules and location of the bank. Many people ignore it and gradually lose a large amount.
IMPS transfer fees
Nowadays most banks do not charge any fee on NEFT and RTGS transfer, but IMPS is still charged on instant money transfer. This charge can be from 1 to 25 rupees and can cost a lot on repeated transfer.
Cut in the name of sms alert
The SMS that you get on transactions in the account every time is also not free. The bank deducts 15 to 25 rupees in the name of SMS alert every quarter i.e. 3 months. This amount can reach about 100 rupees in a year, and the bank earns good earning from millions of customers.
Checkbook and check clearance charge
Banks usually give some initial check pages for free, but after that every additional checkbook is charged. On the other hand, if you clear more than one lakh check, then you also have to pay a clearance charge of up to Rs 150.
If you withdraw money from ATM again and again, charging will be charged
Every bank allows free cash withdrawal from ATM only 4-5 times a month. After this, charge of 20 to 50 rupees is charged on every withdrawal. If you withdraw money from another bank’s ATM, then the charge can be more.
Charges for Debit Card
Not only this, maintenance fees of 100 to 500 rupees are also charged for debit cards. On the other hand, if your debit card is lost or damage is done, then the bank can charge you from 50 to 500 rupees if you take a new card. This amount is different in different banks.