Bulk Charges in Indian Bank
Bulk charges are fees charged by Indian Bank for processing high-volume transactions. These charges can apply to a variety of transactions, including cash withdrawals, fund transfers, and cheque clearances.
What are Bulk Charges?
Bulk charges are typically charged when a customer exceeds a certain threshold for a particular type of transaction. For example, an Indian Bank customer may be charged a bulk charge for withdrawing cash from an ATM if they exceed a certain number of withdrawals in a month.
Types of Bulk Charges in Indian Bank
The following are some of the types of bulk charges that may be applied by Indian Bank:
- ATM withdrawal charges: These charges are typically applied when a customer exceeds a certain number of ATM withdrawals in a month.
- Cash deposit charges: These charges are typically applied when a customer deposits a large amount of cash into their account.
- Cheque clearance charges: These charges are typically applied when a customer clears a large number of cheques in a month.
- Fund transfer charges: These charges are typically applied when a customer transfers a large amount of money between their accounts or to another bank account.
How to Avoid Bulk Charges in Indian Bank
There are a few things that customers can do to avoid bulk charges in Indian Bank:
- Stay below the threshold for the number of transactions that are subject to bulk charges.
- Use online banking or mobile banking to make transactions, as these methods typically do not incur bulk charges.
- Consolidate their transactions into fewer larger transactions, as this can help to avoid multiple bulk charges.
- Contact Indian Bank to see if they offer any discounts or waivers for bulk charges.
I hope this article has been informative. Please let me know if you have any other questions.