BANK CHARGES IN INDIA COLLECTING OUTSTATION CHEQUE & RTGS

Have you ever feel cheated by the bank charges in india where you feel that this bank charge is very rude & you feel cheat or down. Last month i got a cheque of Rs. 45 of dividend for some shares but it was an outstation cheque so i drop the cheque for clearing & after 10 days 45 rupees credit to my account & 85 rupees debited for outstation cheque clearing charges. I felt cheated.

RBI has issued a Instruction which is applicable to all Banks with Immediate Effect from date of isue of the circular i e 8.10.2008.Detail Of circular is given here under.

RTGS/NEFT

1- The inward of RTGS(Remit through gross settlement) & NEFT is free.

2-The outward charges are as under

RTGS-1 TO 5 LAKH---------------------------not excess 25 rs, per transaction

RTGS-5 LAKH & ABOVE---------------------not excess 50 rs. per transaction

NEFT upto 1 Lakh-----------------------------not excess 5 rs. per transaction

NEFT 1 lakh & above-------------------------not excess 25 rs. per transaction

3- Banks may prescribe charges not higher than cheque return charges for ECS debit returns.

4- These charges shall be applicable for all types of transactions, including inter-bank funds transfers.

BANK CHARGES IN INDIA COLLECTING OUTSTATION CHEQUE & RTGS
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