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Now, banks charge for teller services |
CHENNAI: The next time you visit your
bank branch for a teller transaction, don't be surprised if you are charged for
the same. From pass book updation to depositing cash in your current account or
doing more than five transactions during a month, banks now charge for such
transactions.
Such charges become more evident if one person banks at
a non-home branch (the home branch is where the customer has opened his or her
account) of the same bank. For instance, SBI charges Rs 10 for updating passbook
if one goes to a non-home branch. "We would like customers to maintain close
relationship with their parent branch. Lot of our branches across the country
have non-home transactions and this is more evident in those areas where there
is a huge migrant workforce. We want to correct this anomaly, " say senior SBI
officials.
Some banks also charge current account customers who
deposit cash whether in home or non-home branches of the bank. Bankers say this
is necessary because current account is a business account and such deposits
entail a holding cost for the bank as cash involves counting and storage. "We
charge a nominal sum for those current holders who deposit in excess of Rs one
lakh in the non-home branch because KYC (know your customer) issues come into
play," says TM Bhasin, CMD, Indian Bank.
From July 1, HDFC Bank will
allow SB account holders only five transactions within the branch in a month.
The sixth and subsequent ones would be charged Rs 100 per transaction. Besides,
the bank has also set a limit of only 100 transactions at the branch level in a
year. "Salary account holders occupy our time. If they still wish to transact
without levies let them switch over to holding a current account," an HDFC Bank
employee said. With such charges coming into play, the purpose of anytime,
anywhere banking and banking for all surely stands defeated. Bankers don't
subscribe to the view.
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