What Are Bulk Charges In Indian Bank?
As a customer of Indian Bank, you may have observed that a nominal fee is occasionally deducted from your account. It may be unclear to some what these fees are?
And why are they being assessed this fee? This page describes the bulk charges and explains how to avoid them.
What are bulk charges in Indian banks?
The bulk charges levied by the Indian bank for the services it offers are essentially modest costs. They can range from online banking to the management of massive cash transactions.
SMS Charges
Mandatory registration of your cellphone number is required at Indian Bank. OTP, account updates, and internet banking are all free for customers.
However, if you actively use the SMS capability for credit/debit transactions, you will be charged 15rs per quarter.
ATM Charges
There are no fees associated with using the Indian Bank's ATM. Nevertheless, you will incur costs if you do cash transactions at other banks. The Indian Bank provides customers with a free transaction threshold.
1)Three free purchases are permitted in metro areas and five in non-metro areas.
2)You will be charged twenty rupees for every cash transaction and ten rupees for any other banking services.
Payment Gateway Charges
- (IRCTC) reservations would cost Rs 10 for each transaction.
- Transactions of the Tamil Nadu Electrical Board (TNEB) - On all bills up to 500 rupees, you will be charged 5 rupees. If your transaction exceeds 500 rupees, you will be charged 10 rupees.
- If you use this mode of payment on a merchant's website, you will be charged 5 rupees.
Debit Cards Charges
1)Master Card (International): Cash withdrawals will incur a monthly fee of 100 rupees + applicable taxes. For non-cash transactions, you will be charged 20 rupees plus any taxes.
2)Annual Maintenance Charges(AMC): The first year of AMC is complimentary for any Indian Bank debit cardholders.
How to Avoid Bulk Fees?
- Avoid making excessive cash withdrawals monthly. If possible, try to conduct ATM transactions in a metropolitan area.
- Avoid using SMS for transactions; utilize Mobile or Internet banking instead.
- Do not use an International card if most of your purchases are domestic.
- Avoid large cash transactions to avoid cash handling fees.
- Bulk fees are an integral feature of the banking system. However, they can mount up rapidly. Therefore, it is essential to be aware of these service fees to avoid them intelligently. You will understand its purpose whenever you observe an unauthorized debit.
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