Bulk posting in a bank means crediting multiple accounts at the same time. This happens when the money has to be credited from a single source to many different accounts. E.g. Corporate salaries, pensions, government subsidies, etc.
Bulk Transaction Charges. All transactions are subject to a maximum of 500 transactions per month, beyond which charges @ Rs. 8/- per transaction would be levied. Includes all Local / Anyhwere clearing and transfer transactions.
Bulk posting in a bank means crediting multiple accounts at the same time. This happens when the money has to be credited from a single source to many different accounts. E.g. Corporate salaries, pensions, government subsidies, etc.
Bulk posting involves crediting to many accounts in the bank on the same day. Disbursement of salaries and pensions, payment of dividends, issue of a large number of drafts purchased by one company etc are examples of bulk posting.
1 : not divided into parts or packaged in separate units. 2 : in large quantities buys rice in bulk. bulk. verb. bulked; bulking; bulks.
Bulk posting involves crediting to many accounts in the bank on the same day. Disbursement of salaries and pensions, payment of dividends, issue of a large number of drafts purchased by one company etc are examples of bulk posting.
It means 'annual maintenance charges'. Some banks, especially ones in the public sector, levy AMC to cover their expenses towards the debit card. Private banks usually don't. Government banks also may charge you a quarterly fee for the SMS they send you every time there is a transaction on the card.
Banks charge you every time you apply for a duplicate account statement. The good news is that you pay less if you apply through net banking, phone banking or ATM. The usual fee of Rs 100 can be cut to half by going for the non-branch options. There are cheques drawn on banks and there are cheques deposited with banks.
| Balance Requirement |
|---|
| Cash Withdrawal-Home Branch | Free |
| Cash Withdrawal-Non Home Branch | Free cash withdrawal up to Rs.1, 00,000/- per day beyond which charges @ Rs.2/1000, min Rs.50/- per transaction; Third party cash withdrawal allowed only up to maximum Rs. 50,000/- per transaction. |
| Local Transactions |
HDFC Bank allows customers to withdraw up to Rs. 1 lakh/day from ATMs with the platinum chip debit card. As per official website of ICICI Bank, a customer can withdraw up to Rs 50,000/day from any of its ATMs The limit for High Net Worth Individuals, the limit is Rs 100000/day.
HDFC Bank increases cash transaction fees on savings a/cs. The bank has also capped the free cash transactions at home branches, including deposits and withdrawals at branches at Rs 2 lakh, above which customers will have to pay a minimum of Rs 150 or Rs 5 per thousand.
I do have an savings account with HDFC bank. In our semi urban town, they have a minimum balance of 5K to be maintained at all times. They charge around Rs. So if you are going to withdraw money from your savings account, make sure you deposit it within 2 days.
If an individual receives more than Rs 2 lakh in cash, then he will have to pay a penalty as mentioned under section 271DA of the Income Tax Act. It was fixed at 0.1 per cent on cash withdrawals from bank. For entities other than individuals and HUF, tax was levied on withdrawal of Rs 1 lakh and above on a single day.
From non-home branch, customers can deposit/withdraw up to Rs 25,000 per day without any charge but any deposit/withdrawal from non-home branch above Rs 25,000 will attract charge of Rs 5 per thousand or Rs 150 (plus taxes and cess) whichever is higher.
From non-home branch, customers can deposit/withdraw up to Rs 25,000 per day without any charge but any deposit/withdrawal from non-home branch above Rs 25,000 will attract charge of Rs 5 per thousand or Rs 150 (plus taxes and cess) whichever is higher.
According to the HDFC Bank website, for closure of savings account, the Bank customer, depending on the nature and tenure of his account, will have to pay a fee of Rs500 and if the average monthly balance falls below Rs20,000 in non-urban centres, it will charge Rs500 a month.
At a home branch, if the cumulative cash (deposit and withdrawal) exceed Rs 2 lakh, a transaction charge of Rs 5 per thousand rupees or Rs 150 (plus tax and cess) will be levied. According to HDFC, there will be no charge or tax for minors and senior citizens up to an amount of Rs 25,000 per day.
Best banks with no domestic ATM fees
- E-Trade Bank.
- TIAA Bank.
- USAA Bank.
- Charles Schwab Bank.
- Needham Bank.
- Capital One 360.
- Ally Bank.
- First Republic Bank.
The Top 10 Most Common Banking Fees & How to Avoid Them
- Checking Account Fees. It is recommended that you speak with your bank to learn more about its service fees (how often you can potentially be charged, and for how much).
- Minimum Balance Charge.
- Overdraft Charge.
- Returned Deposit Charge.
- Hard Copy Statement Fee.
- ATM Fees.
- Foreign Transaction Charge.
- Lost Card Fee.
In case of regular current account, Rs 2 lakh or 25 transactions are free per month. If cash deposit in excess to the limit, then Rs 3 per thousand will be charged with minimum Rs 50 per transaction. Such is for deposits made in home branch location.
The daily cash withdrawal limit is higher as well, at Rs. 50,000 per day. The POS transaction or online transaction limit is Rs. 1 lakh per day.
Bank of India Savings Account Minimum Balance
In some cases, a monthly balance of Rs. 500 needs to be maintained.For anywhere cash deposit, ICICI Bank would charge Rs 5 per Rs 1,000 (subject to a minimum of 150) at branches, while deposit at cash acceptance machines would be free of charge for first cash deposit of a calendar month and Rs 5 per Rs 1,000 thereafter.
The annual maintenance charges vary with the cards issued. For the classic cards, most banks like SBI, HDFC, PNB, Axis bank charges between Rs 100-150, while bank of india charges Rs 60 for semi urban and rural area and Rs 120 for metro and urban area.
Basic Checking Account Fees at Top Banks
| Account | Monthly Fee | Minimum Balance to Waive Fee |
|---|
| Bank of America Advantage Plus | $12 | $1,500 |
| Wells Fargo Everyday Checking | $10 | $1,500 |
| Chase Total Checking | $12 | $1,500 |
| Citibank Basic Banking Account | $12 | $1,500 |
HDFC bank permits four free cash withdrawals per month and provides five free transactions at non HDFC Bank ATMs across the country. Any withdrawals beyond the ATM transaction limit attracts a charge of ₹20/- plus applicable GST in case of a financial transaction.
Private lender HDFC Bank has made online transactions through RTGS and NEFT free of cost, with an aim to promote a digital economy. For NEFT transactions of over Rs 2 lakh, there was a fee of Rs 25. However, any NEFT or RTGS transaction carried out at the bank branch will be payable.
HDFC Bank IMPS transactions
HDFC Bank levies a fee of Rs 5 plus GST per IMPS transaction of an amount up to 1 lakh. For amounts between Rs 1 lakh and Rs 2 lakh, HDFC Bank charges a fee of Rs 15 plus GST, according to its website.Debit card annual maintenance charges
499 and an annual fee of the same amount, according to its website. For its Platinum debit card, HDFC Bank charges a fee of Rs 750 as annual renewal fee, according to the bank's website.HDFC Bank
| Cheque return charges drawn on HDFC Bank - Local | Charges |
|---|
| Due to technical reasons | No charge |
| Non-maintenance of Average Quarterly Balance | Rs 400 |
| Cheque return charges drawn on us deposited in other locations | Rs. 75 |
| Cheque deposited returned unpaid | Rs 100 per instance would be levied |
ACH return charges are imposed by banks and service providers when you send an ACH transfer that gets returned by the receivers bank. Unauthorized ACH debits also result in a $4.50 fee for your bank, so you may see higher fees in this case (e.g. you pulled money from an account you shouldn't have).
HDFC international transfer charges and fees
Fund transfers up to USD 500 or equivalent- ₹500/- per transaction. Above USD 500 or equivalent- ₹1000/- per transaction.HDFC Bank Savings Account Interest Rate India May 2020
| HDFC Bank | Regular Savings Account |
|---|
| Minimum Account Balance | Rs. 10,000 for metro urban branches Rs. 5,000 For Semi urban branches Rs. 2,500 for Rural branches is required to open a Savings Regular Account |
| Debit Card | Select from a range of International Debit cards |
