SBI Started Charging Rs. 100 Fee on Small Payments Less than Rs. 2000 through Cheque

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SBI Started Charging Rs. 100 Fee: State Bank of India which recently merged to become the biggest merger, started chariging Rs. 100 on small payments. If the amount which you pay by cheque for credit card bill(SBI Card) is less than Rs. 2000, the SBI will be charging Rs. 100 from your account. The amount which is more than Rs. 2000 will not have any charge in addition. This move might haveĀ been taken to encourage internet banking.

SBI in a statement told that, “This move is aimed at encouraging digital payments in line with the government’s policy. A fee of Rs 100 will be charged for payments made by cheque for an amount less than or equal to Rs 2,000 w.e.f April 1, 2017.” SBI Card has 4 million customers which will now be charging the amount if the customer pay their SBI card through cheque and if it is less than Rs. 2000.

SBI Started Charging Rs. 100 Fee on Payments Less Than Rs. 2000

CEO of SBI Card Vijay Jasuja said that over 90 per cent of its customers make payments through non-cheque mode. He added, “We have observed a trend of payment related disputes arising in small cheque payments, causing inconvenience to customers as well. We offer several seamless digital modes of payment which we are seeking to encourage, in line with the government’s focus towards digital payments and this step will facilitate the same.”

GE Capital Business Processes Management Services (GECBPMSL) takes care of the technology and processing needs of SBI Card while SBI Cards and Payments Services (SBICPSL) focuses on customer acquisition, marketing and risk management of SBI Card.

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