Banking Service Charges Increased: These 3 banks revised service charges, Know how much will be charged

Many changes have come into force for the common man since the beginning of the new financial year from April 1.

Along with this, three big banks of the country have announced to revise the fee rates applicable on banking services and change the rules. In these changes, many types of services including debit-credit card usage, ATM cash transactions, online transactions, savings account balance charges have been changed.

Axis Bank changed 9 banking service charges

Axis Bank has revised the service charge for salary and savings account holders from 1 April 2023. Changed the service charge applicable on 9 banking services including minimum balance maintenance, free cash transaction limit, DD issue fee. The average balance amount for Prestige Savings Accounts has been capped at Rs 75,000.

Changes applicable from April 1 for Axis Bank account holders

• There has been a change in the service charge of the savings account for senior citizens.
• Delivery return charges have been introduced.
• The charges applicable in case of NACH debit failure has been changed.
• There has been a change in the inward check return charges.
• DD issue fee has been revised.
• The limit on free cash transactions has been rationalised.

Changes in Yes Bank Services

Yes Bank has changed the savings account charges structure from 1 April 2023. Whereas, opening of new accounts in 5 categories of savings account has been banned. Along with this, changes have been made in ATM debit card charges, miscellaneous service charges, passbook related charges, free transactions and charges on banking services. Maximum charges of Rs 125 per month will be applicable for non-maintenance of minimum balance in the savings account.

PNB will charge fine for ATM withdrawal failure

Punjab National Bank has changed the fees of some of its banking services. According to PNB, the bank will charge customers Rs 10 + GST ​​if the domestic ATM cash withdrawal transaction fails due to insufficient funds. PNB will levy debit card and prepaid card issuance charges and annual maintenance charges.

Fees will be applicable for Ecommerce transactions through POS and Debit cards. Apart from this, new instructions have been issued to customers regarding debit-credit card theft, missing or suspicious transactions. These changes of PNB will be effective from 1 May 2023.