This is why State Bank of India (SBI) is deducting Rs 147.5 from your account. SBI issues statement.
SBI Customers Alert: Don’t fret if you are receiving a message of Rs 147.50 deduction from your State Bank of India (SBI) account without you making any transaction these days. Account holders must note that the bank has been deducting this amount under the annual maintenance/service fee for the debit/ATM card used by you.
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The bank charges Rs 125 as an annual maintenance fee and an additional 18 per cent GST for a host of debit cards its customers use. 18 per cent of Rs 125 amounts to Rs 22.5, thus SBI deducted Rs 147.5 from the account of its customers.
Moreover, if you want to replace or change your debit card, then the bank will levy Rs 300+GST for this service, apart from the service charge. SBI is not the only bank which charges an annual maintenance fee for the debit/ATM card. Other banks like ICICI, HDFC and others also charge an annual fee of the same or less amount for debit cards.
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Earlier last month, SBI had asked its customers to pay more on transactions related to rent payment and Merchant EMI transactions. Notably, the bank had revised the processing fee for credit card users on these category of transactions. The new charges came into effect from 15 November 2022.
“W.e.f. 15 Nov 2022, Processing Fee on all Merchant EMI transactions will be revised to Rs.199 + applicable taxes from Rs.99 + applicable taxes. W.e.f. 15 Nov 2022, Processing Fee of Rs.99 + applicable taxes will be levied on all Rent Payment transactions,” SBI website read.
