Nationalised banks such as State Bank of India (SBI), Bank of Maharashtra and Canara Bank have hiked charges for several services or facilities provided to customers. These include increase in charges for chequebook issuance, signature verification, cash handling charges, withdrawals beyond stipulated numbers and card issuance charges. Interestingly, Bank of Maharashtra, in a communication issued to its officers and clerks, has asked them to levy these charges manually on a daily basis as the system is not doing the job!
For issuance of local chequebook, reconstitution of account, addition or deletion in account, change in mobile number, photo attestation and for sign verification, Bank of Maharashtra charges Rs115 from customers. For signature or photo verification, Canara Bank will be charging Rs150 per case of attestation from 1st July, as against the existing Rs100.
Many of these banks are simply following SBI in increasing service charges that directly add to their profits. For example, Canara Bank
, which had no cash handling charges till now, will levy Rs50 to Rs2,500 for cash deposits beyond Rs50,000, from July onwards. These charges would be applicable across all its branches, cash deposit machines and kiosks. Canara Bank has also decided to levy Rs20 per transaction as declined charges at other bank ATMs when there are insufficient funds.
If a customer of Bank of Maharashtra wants to enquire about an old entry, she will have to shell out Rs230 if the period is beyond 12 months and Rs173 if the period is less than 12 months.
, has revised its service charges for basic savings bank deposit (BSBD) accounts, whereby the customer would be charged Rs30 for issuance of a 10-leaf chequebook. The bank would issue only RuPay classic card free of cost, while for all other cards the customer has to pay stipulated charges. For BSBD customers, SBI allows four free withdrawals per month, beyond which the customer has to pay Rs50 per transaction at branch, Rs20 at other branch ATMs and Rs10 at SBI ATMs. These charges exclude service tax and would be applicable form 1 June 2017.
The country’s largest lender has not spared even its own e-wallet users from this hike. Users of State Bank Buddy mobile app have to pay Rs25 per transaction for cash withdrawals from wallet balance through ATMs. If the customer uses the services of bank correspondent (BC) for depositing cash in her own wallet, she will have to pay a minimum Rs2 per transaction. For cash withdrawal of up to Rs2,000 from the same mode, the customer will have to pay a minimum Rs6 per transaction.