India Post Payments Bank Fees: Do you know that India Post Payments Bank customers are charged a fee for withdrawing and depositing cash beyond a certain limit. Instead of regular cash transactions through post, people receive Rs. Charges up to Rs 25. This step of the bank has been taken with the aim of motivating customers for digital transactions and reducing cash transactions.
So many transactions can be done for free in the savings account
Generally customers can avail the facility of free cash deposit or withdrawal from the savings account up to four times per month. After this, additional transactions will be charged at Rs. 20 plus GST approx Rs. Charges up to Rs 25 will have to be paid. This fee is based on the transaction amount.
Terms and charges of current and savings accounts
Savings Account:
Monthly lump sum amount of Rs. No charges on cash deposits up to Rs 10000, 0.50% charge will be applicable on deposits above this, minimum charge Rs. Will be 25. The same rule will apply to withdrawals also.
Current Account:
Current account account holders get a monthly deposit of Rs. You can withdraw up to Rs 25 thousand. After this, every withdrawal will be Rs. 25 or more will be charged. The same rule will apply to withdrawals also.
Doorstep Banking and Impact of Charges
Earlier in August, 2021, new charges were also implemented for doorstep banking. In which transaction charges and GST were increased from January 1, 2022.
purpose of charge
The bank clarified that this step has been taken to promote digital transactions and reduce the use of cash. Use of UPI, internet banking and mobile banking can be more beneficial for customers. Because, there is no extra charge on this.
