People are worried about the service charges of the banks and money cut off from their savings account.
The bank charges Rs. 5-15 for non maintenance of the required account balance. Eventhough this seems nominal, some banks can charge as much as Rs. 200-500. While maintaining a minimum balance in the bank account might not sound like a challenge, the trouble begins when the customer has too many bank accounts.
Nationalized banks are repeatedly implementing new regulations in the form of service charges for money deposited by the customers and the money saved by common is being cut.
In order to emphasize direct banking using debit card, credit card and cheque-book are encouraged. Meanwhile Canara Bank has issued an order to charge fees even if the cheque-book is not used, which means, after receiving the cheque-book if we withdraw money through challan, we have to pay Rs. 59 including GST.
In addition if the customer withdraws money more than 5 times in a month, after 5 withdrawals, for every withdrawal the customer has to pay Rs. 118 including GST as service fees. If a person draws his money 10 times in a month to he has to pay Rs. 590. If a customer wants a cheque-book he has to pay Rs. 148 including GST. He has to pay Rs. 50- 100, including GST, if he changes his cell number or pass book. All these are burden for a common person.
