Too many transactions could cost you too, whether they are through ATMs, or over the Internet, or phonebanking, or at the branch. Only a limited number of banking transactions come free of cost per quarter for many banks.
In Standard Chartered, the first four transactions through any channel (Internet banking, phonebanking, ATM or branches) per month are free. However, it charges as high as Rs 75 per transaction, subsequently.
Some banks even charge for repeated visits to the bank branch.
If you pay your credit card bill through cash at a branch, you are fined.
Says a senior executive of a private sector bank: "We want to discourage customers from coming to the branch, hence the fine. The customers can pay the bill through an ATM transaction, which is free." Banks also charge additional fees for banking at a non-base bank.
Also read: How rich-poor salary gap is widening
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