SBI Bank Service Charges List: In today’s time, as easy as it is to open a bank account, maintaining it has become equally expensive. In the last few years, the bank has added charges on every service it provides. They have started charging even those services which used to be free.
SBI Bank Service Charges List: In today’s time, as easy as it is to open a bank account, maintaining it has become equally expensive. In the last few years, banks have added charges on every service. They have started charging even those services which were free. Be it passbook update, cash transaction or signature verification. Now banks have started charging everywhere.
Charges are levied even for small services
Now if you go to the bank branch to update your passbook or get any information related to your account, you have to pay a charge for all this. In May, banks had imposed an extra charge of Rs 23 for withdrawing money more than five times from the ATM. At the same time, new charges have also been imposed on some credit card transactions from July 1.
Strict rules on cash deposit and withdrawal
Cash transactions have become more expensive now. Many banks keep cash deposits and withdrawals free only for three times, after that a charge of up to Rs 150 has to be paid every time. Not only this, if a customer deposits more than Rs 1 lakh in cash in a month, then an extra charge of Rs 150 will be levied on him.
Customer benefits also reduced
Along with charging on facilities, banks have also started cutting down. For example, SBI has discontinued the free air accident insurance of Rs 50 lakh on its prime and pulse credit cards from July 15. That means facilities are decreasing and charges are increasing.
Now even IMPS transactions will not be free
From August 15, SBI is also going to charge for IMPS transactions i.e. instant money transfer service. Till now transactions up to Rs 5 lakh were free, but now a charge of Rs 2 to Rs 10 will be levied on transactions above Rs 25 thousand and GST will also be levied on it.
Charges are being levied on many services
Now, to operate a bank account, one has to pay for every small thing like Rs. 100 for making duplicate passbook, Rs. 100 to Rs. 150 for signature verification, Rs. 200 for stopping cheque, Rs. 50 + GST for updating mobile number or email and Rs. 50 for re-PIN of debit card.
What should the customer do?
Banking services are no longer as convenient and affordable as before. Paying for every transaction and every service has now become a reality for a common customer. In such a situation, it is important that customers read the charge structure of their bank carefully. Also, choose digital and free options.
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