Satark Nagrik Foundation ® to oppose levy of Bank charges

 *Banks to levy charges on transactions from November 1, 2020:*

Customers in some banks will now have to start paying fees for deposit and withdrawal of money.

As per reports, Bank of Baroda will start charging its customers for transactions beyond the prescribed limits from November 1.

Names of other banks like Bank of India, PNB, Axis Bank and Central Bank are also emerging in reports, but they are yet to take a final call on the matter.

As per reports, some of these transaction charges will kick in from November 1.

It is being said that withdrawals three times in a month will be free but after that a withdrawal transaction charge will be levied at a flat fee of Rs 150.

Similarly, deposits three times in a month will be free but thereafter a charge of Rs 40 will be levied on each transaction.

For CC, present and overdraft accounts: 

• Day deposit up to one lakh – free

• If there’s a couple of lakh – one rupee cost on minimal one thousand rupees (minimal 50 rupees and most 20 thousand rupees)

• Withdrawing money thrice in a month – No cost

• From 4th time – Rs. 150 withdrawal every

For Savings Account Customers:

• Deposit up to thrice – free

Will have to pay from 2nd time – Rs 40 every time

• 3 occasions money withdrawal in a month – no price

• The fourth time, and past withdrawal – 100 rupees every transaction

No exemption for senior residents. They even have to pay a price.

*Satark Nagrik Foundation ® has decided to oppose this move. Our executive body shall be meeting on Wednesday, November 4, to chart out course of action.*