State Bank

How To Avoid Transaction Charges Levied By Banks

Several Indian Bank Have decided to Charge Customers for Transactions. Read this article to Know how to avoid those transactions.

  • MAINTAINING MINIMUM BALANCE 

According to popular reports, it is said that account holders should maintain a minimum balance of 5000 but that’s, not the case. One should just maintain an average minimum balance in the account which is calculated for over quarterly or monthly basis. So one should just leave the Salary for a few days in the bank and then they can use it without worrying about any transaction charges.

  • CASH TRANSACTIONS AND ATM

Customers should bear in mind that the cash transaction limits are the combined limits for deposits and withdrawals— at the bank’s branch, ATM or third-party ATM. Customers will be allowed around 10 free transactions per month, including noncash transactions such as checking the account balance at an ATM

  • OTHER CHARGES

 

Image Courtesy:economictimes.com
  • BANK SERVICE CHARGES
Image Courtesy:economictimes.com
  • DON’T IGNORE SMS FROM BANKS  

Most banks send SMSs or emails before increasing their service charges. Make sure your email and phone number are updated with the bank.