Many such services are provided through the bank, on which charges are also collected. However, now a bank has removed the charge for 25 of its services. Due to which rest of the banks have lost their sleep.
Although this step can greatly benefit the customers. In fact, IDFC First Bank has announced Zero Fee Banking on December 17 on savings accounts. With this, charges have been waived on 25 commonly used banking services.
Banking services announced
include cash deposit and withdrawal at branches, third party cash transactions, demand draft, IMPS, NEFT, RTGS, check book, SMS alerts, interest certificates, insufficient balance for ATM transactions, international ATM usage etc. Are included. The bank has announced this facility on the occasion of its foundation day on 18th December.
People will get benefits
The bank said that customers maintaining an average monthly balance of Rs 10,000 as well as Rs 25,000 in AMB (Average Monthly Balance) savings account will enjoy these benefits. This will benefit all customers and especially those with low financial literacy who find it difficult to calculate fees and charges, the bank said.
IDFC FIRST Bank 25 ZERO Fee Banking Services.
1. Number of cash transactions (cumulative of deposits and withdrawals) at branches per month.
2. Value of cash transactions at branches (cumulative of deposits and withdrawals).
3. Third-party cash transaction fee at branches (cumulative of deposits and withdrawals).
4. Demand Draft/PO (Issue Fee) – At Bank Location
5. IMPS Charges per Transaction- Outward
6. NEFT Charges per Transaction – Outward (Branch)
7. RTGS Charges per Transaction – Outward (Branch)
8. Check Book Charges
9. SMS Alert Charge
10. Issue of duplicate statement
11. Passbook Charges
12. Balance Certificates (fee per certificate)
13. Interest Certificate (fee per certificate)
14. Closure of Account (from the date of opening of account)
15. ECS Return Charge
16. Stop Payment Charges
17. International ATM/POS Transaction Charges
18. Charges for insufficient balance per ATM transaction
19. Standing Instruction Charge
20. Manager Cheque/Demand Draft Cancellation/Revalidation
21. Photo Verification Fee
22. Signature Verification Fee
23. OLD RECORDS/COPY CHARGES OF PAID CHECKS
24. Address Verification Charges
25. Any delivery returned by courier for negative reasons
