Debit Card Charge Hike: A private sector bank of the country has increased the annual charge under the debit card facility. This increase from the bank will be effective from 22 May 2023. The annual debit card charge has been increased by Rs 60. According to the information given by the bank, at present this charge is being collected at Rs 199 plus GST in a year.
This charge will be applicable on all types of accounts. The increase in annual debit charge has been extended by Kotak Mahindra Bank. Here is the information about the charges levied on the savings and salary account of Kotak Mahindra Bank, which are applicable from June 1, 2022.
Charges for minimum balance
Tak Mahindra Bank charges 6% for non-maintenance of minimum balance. Also charges on the product variant on the maximum cap. Salary account for individuals and uniformed service or uni account is not included in this.
Transaction failure charge
A fee of Rs 50 per transaction is charged for check issuance and returns for non-financial reasons. There is a fee of Rs 200 if the standing instruction fails. There is also a fee of Rs 200 on check deposit and return transactions. At the same time, a fee of Rs 25 is also charged for the checkbook.
Other Debit Card Related Charges
Even if the card is stolen or lost, a debit card charge is levied, which is Rs 200. If the transaction is declined in the domestic ATM machine due to low balance, then there is a charge of Rs.25. On cardless cash transaction, one withdrawal is free in a month, for the rest a charge of Rs 10 will have to be paid.