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ET Wealth

From January, banks cannot charge you for online NEFT transactions

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Ramchandra Lakshman (KTPS,W.B.W.B.P.D.C.L./LTD(GOVT. OF W.B.))

Time is the controller of the World.

Anushka (Surat)

Debit card and credit charges are too high.


Main hurdle for not going big of digital payments is charging by banks from business men of 2.5% from the customer as bank charge told by the shop keeper and other business houses. Is it not urgent problem to be solved by RBI and th e finance minister in consultation with banks immediately.

I have never been charged for NEFT.

Close ATMS gradually and freeze the new opening of ATMS which would automatically drives us to digital

Earlier SBI announced that no NEFT charges but it charging. More over Phone pay the money transfer app is not safe. When a transaction made through Debit card or credit card bank send one OTP for double authentication. But the Phone Pay app take the access of your mobile SMS folder read the OTP and directly debit bank account without giving you a chance to enter your OTP

Asm Jan (Chennai)

Canara Bank charges for NEFT transactions done online.

Dunbaka Vja (Bangalore, India)

Why January and not now itself? Lazy Bankers.

Similar to unlimited ATM transactions, which were introduced with subsequent stiff curtailment of free transactions, this will also be in Vogue for few months followed by high charges.


yes logically it''s correct. all online transaction no physical counting etc etc. the banks were cheating us all these days. put the nation first m

Sundarv (Chennai)

Good. IMPS should also be made free.

There should be time limit , may be up to 2-3 hours by which amount would be credited. And timing too need to be 6 AM to 9 PM if not 24 hours and seven days in a week.

CorpBank continued to charge as service charges inspite RBI had given a notification to all the banks to waive off the charges wef 01 jul in their notification. Why again specify a date? Banks are shamelessly charging despite.


axis bank charges.. sms charges, debit card charges despite keeping 10k.. AQB

Dunbaka Vja (Bangalore, India) replies to isha gupta

Punjab & Sind Bank and City Union Bank too loot their customers.

Reporter is trying to project SBI as champion for public welfare but forget to tell why in first place SBI was charging for NEFT and RTGS transaction while many other banks such as ICICI never charged for such facilities.


Kotak bank is a fraud one. in their app, the moment we want to send money, it picks up IMPS automatically forcing depositor to pay


When MDR charges will be waived? when POS will be free of charge ?? when Payment gateway for card based payments will be removed?


In Karnataka electricity Bill''s and water bill also charges convenience fee..RIDICULOUS


All digital payments for banks or businesses should be free


RBI should strictly monitor all banks if they are charging such charges. Phone SMS charges for mobile transactions must be uniform for all banks. Interest rates and Charges must be uniform at a maximum rate which should be decided by RBI. Banks are sucking the blood of customers.

Waiver of these charges should also be on current accounts and not just on saving accounts.

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