Can a bank takes charges for inter bank cash deposit ?
mani singh
(Querist) 15 January 2011
This query is : Resolved
Sir,SBI takes RS 25 every time for cash deposit in other SBI branch.Is it legal?Can I protest?
Advocate. Arunagiri
(Expert) 15 January 2011
Normaly if the money is remitted or withdrawn from other town the banks are charging for it.
But no charge is there for transacting within the same town.
malipeddi jaggarao
(Expert) 16 January 2011
If you deposit cash in any branch whether it is local or non-local, except in the parent branch where you have account, it is permissible only upto certain limit say upto Rs.25000 per day. Beyond the specified amount Banks do levy charges. If it is your own account, instead of protesting, you can open another account in the branch where you are depositing the cash. Ofcourse if you are depositing in different branches frequently it is up to you either to open number of acounts to avoid charges or to pay the charges. If it is not your own account, you have no option except to pay charges if the deposit in a different branch is beyond the specified limit.
abhishek
(Expert) 17 January 2011
the limit of deposit is Rs. 50000/- and otherwise the reply of Mr. Jaggarao is complete in all sense.
