It seems banks started levying charges for the value added services which are given as free of charge till now. As you are aware, nowadays banks has started charging for the online transfer of money to third party accounts. This has been real shock for the online customers who extensively uses the netbanking for money transfer. This would adversely affect the netbanking user base who would rather limit their online presence. This is not the future to go for countries like India. Indian govt. has to encourage the banks to give free service for using the netbanking and mobile banking which will help the banks to reduce their cost.
The recent news about the ICICI bank has started charging for the SMS alerts sent for your bank account. There is set of alerts which are sent as free service, but another set of options are sent only for the charge. The cost is Rs. 15 for one quarter. Other banks would follow the same charges very soon.
It looks like this would be beginning of end for all the freebies services offered by the banks. RBI has to put curb on charging the fees. If you are using the online accounts extensively, please login to your account and check the statement for any extra charges levied. Hope this post would be very useful.
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