8 Responses to Bank Charges – How to Avoid 10 Most Common Charges

  1. KK Babu says:

    Dear sir
    Thank you for giving Insight information about Banking Charges.
    My question is how to know whether the Bank has charged us on this. Whether Bank will show the charges in Statements or it will be hidden.
    I am using IDBI & SBI banks. Many times, they must have charged me. But, never it is reflected explicitly in bank statements. May be they are charging the same while depositing interest money as hidden charges.

    Pl. inform us, how to know if any such charges are imposed on my account.

    Thanks, kk babu

  2. Mr. Babu,
    If banks would be charging you, they won’t deduct it out of the interest income. Charges would be expressly debited in your account statement. If you haven’t noticed any such debits in your account statement then it is likely that you have not yet been charged.

  3. priyanka says:

    hi my name is priyanka nayak and i want to know what is intercity charge?

  4. Priyanka,
    Intercity charge is levied by bank if you ask them to clear a cheque for you of a different city. E.g. if you live in Delhi and you put a cheque for clearing which is not payable at par in Delhi. These days most of the banks provide ‘at par’ cheque books and hence such a charge may not be levied.

  5. Ranjith Ramachandran says:

    Dear sir,
    My name is Ranjith and i have a query regarding CTS AT PAR CHEQUE collection charges.i got a at par cheque from havells india for Rs 30 as dividend warrant payable at all branches of Axis Bank.but when i presented it at my bank.they are saying that Rs 35 will be levied as bank charges.i want to know wheather
    they are Saying the correct thing because as per my knowledge bank charges are not levied for cts at par cheques.waiting for your reply in this matter

  6. Hi Ranjith,
    Your thought process is correct. If you have an AXIS Bank in the city where you are presenting the cheque for clearing, it will not attract inter-city clearing charges.

  7. radhika says:

    Sir bajaj finserv my two ecs are returned (april,may) for insufficient fund and i paid to collection agent Rs.700/- penallity. but they are present ECs 7 seven times in my account. my bank made charges Rs.1120/-. but no intimations for me

  8. Radhika,
    If the ECS needs to be presented 2 times, your bank can not charge for your 7 times. Please check with you bank on the number of times bank received ECS and challenge the bank to reduce the charges if they ECS has been incorrectly submitted.

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Delhi – Odd Vs Even Formula

January 2, 2016January 2, 2016

The actual success of the Delhi government’s odd-even formula will be known only by January 15, but if the response of most Delhiities on the first day is any indicator, then the risk taken by Arvind Kejriwal’s Aam Aadmi Party seems to have paid off.

The local government will review the effect on pollution after the 15-day trial and consider including two-wheelers in the second phase of the scheme.

For more click here