Business Standard

From November, pay more for credit card repayment in cash

Currently, the bank charges Rs 50 as cash processing fee

Related News

Prepare to fork out a higher service charge while paying your in cash. HDFC Bank, the largest issuer of credit cards in the country, has decided to double its service charge for cash payments at its branches or automated teller machines (ATMs).

“Dear credit card member, the fee for cash payment made at HDFC Bank branches or will be revised to Rs 100, effective November 1,” read text messages and emails the private lender sent to its customers.

Currently, the bank charges Rs 50 as cash processing fee.

Sources confirmed the service charge would be raised in November, adding the bank had kept other charges related to unchanged. They said other large private and foreign lenders had already raised credit card transaction fees in recent months.

and charge a service charge of Rs 100 for credit card repayments through cash at their branches.

Bankers said the move was aimed at encouraging customers to us online services offered by banks.

“These are small transactions and should be done through net banking or other online services. We want customers to become savvy,” said a senior official with a private bank, on condition of anonymity.

Earlier this year, large private lenders in the country had increased service charges on savings accounts, including penalties for inoperative accounts, cash deposits over particular amounts in bank branches and mobile transfer fees.

Read more on:   
|
|
|
|
|

From November, pay more for credit card repayment in cash

Currently, the bank charges Rs 50 as cash processing fee

Prepare to fork out a higher service charge while paying your credit card bill in cash. HDFC Bank, the largest issuer of credit cards in the country, has decided to double its service charge for cash payments at its branches or automated teller machines (ATMs).

Prepare to fork out a higher service charge while paying your in cash. HDFC Bank, the largest issuer of credit cards in the country, has decided to double its service charge for cash payments at its branches or automated teller machines (ATMs).

“Dear credit card member, the fee for cash payment made at HDFC Bank branches or will be revised to Rs 100, effective November 1,” read text messages and emails the private lender sent to its customers.

Currently, the bank charges Rs 50 as cash processing fee.

Sources confirmed the service charge would be raised in November, adding the bank had kept other charges related to unchanged. They said other large private and foreign lenders had already raised credit card transaction fees in recent months.

and charge a service charge of Rs 100 for credit card repayments through cash at their branches.

Bankers said the move was aimed at encouraging customers to us online services offered by banks.

“These are small transactions and should be done through net banking or other online services. We want customers to become savvy,” said a senior official with a private bank, on condition of anonymity.

Earlier this year, large private lenders in the country had increased service charges on savings accounts, including penalties for inoperative accounts, cash deposits over particular amounts in bank branches and mobile transfer fees.

image

Read More

Spain plans to borrow $267 billion in 2013

Spain plans to borrow euro 207.2 billion ($267 billion) next year, the Budget Ministry said on Saturday.

Recommended for you

Advertisements

Quick Links

More news from Finance Rss icon

Banks left out as 'Kunal calls Kunal' for e-commerce M&As

The way Snapdeal bypassed investment banks for the Freecharge deal might give the bulge bracket banks sleepless nights

Insurers, banks oppose mandatory cap on business from one insurer

Irdai has said no corporate agent can get more than 90% business from one insurer in life, non-life or health in their first year of operation

M Nagaraja Sarma to head Health Insurance TPA of India

TPA to begin operations from 1 July, 2015

Back to Top