NEWS & ADVICE : CREDIT CARDS
Purpose of anywhere, anytime banking seems to disappear
By Ankit Sharma
Jul 6, 2010
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The true meaning of anytime, anywhere banking seems to be evanishing from the banking system. Teller services of banks are now getting chargeable. All operations starting from pass book updation to cash deposit in current account would now be charged. More than five transaction in one month would also bring added charges.

These charges are levied if a person banks in his non home branch. Home branch refers to the branch where the person has opened his account.

The largest lender of the country, State Bank of India now charges Rs 10 for pass book updation done at 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.

"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 1st July, HDFC Bank has started allowing only five transactions per month for savings bank account holders within the branch. Rs 100 per transaction would be charged by the bank from the sixth transaction onwards.

"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.


 


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