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This charges are applied after free limits crossed.I have a select account with them & till now they didnt charge extra for my select visa or MC variant if i withdraw from other bank ATM, but seems like now they will?
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Its for all banks now....I have a select account with them & till now they didnt charge extra for my select visa or MC variant if i withdraw from other bank ATM, but seems like now they will?
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For which card did you receive this email
This charges are applied after free limits crossed.
before this the charges were less.These are charges after free limit and it's not just for Indusind, it's for all banks...
It was less for all banks, Now RBI has approved the new charges and every bank has to implement itbefore this the charges were less.
It's no mandatory, that every bank has to implement, it's just RBI increased the cap/limit by ₹2, making it ₹23 (21+2), hence most of bank are going to revise for the maximum permissible limit, ₹23, obviously for maximizing profit. The way most of the retailer sells at MRP printed/announced by the producer/ manufacturer.It was less for all banks, Now RBI has approved the new charges and every bank has to implement it
BMS, Lounge AccessSo, select account is pretty much worthless now right? The cc payment points loopholes have been closed and the ones that are still working now will probably be closed soon. Bigbasket offer has been heavily devalued. Now, they'll start charging on other bank ATM transactions.
What other select-exclusive benefits are you all using?
Afaik it's the ATM vendors who have pushed for hike in the interchange fee, and if the interchange fee is going to the vendors how is bank making profit out of it? Just asking for clarityIt's no mandatory, that every bank has to implement, it's just RBI increased the cap/limit by ₹2, making it ₹23 (21+2), hence most of bank are going to revise for the maximum permissible limit, ₹23, obviously for maximizing profit. The way most of the retailer sells at MRP printed/announced by the producer/ manufacturer.
Exception; IDFC and few others others.
Some bank has waived off for some special segment/ variant of account/card.
The matter is most of the banks were even not able to recover operational costs properly.Afaik it's the ATM vendors who have pushed for hike in the interchange fee, and if the interchange fee is going to the vendors how is bank making profit out of it? Just asking for clarity
The matter is most of the banks were even not able to recover operational costs properly.
Below is the illustration of PSBs/ PSUs.
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Firstly, NFS approved such fees, later NPCI forward it and requested RBI to approve & implement it.
BB daily as well. This one’s a major.BMS, Lounge Access
Woah! SBI earning from it's non functioning or is it just me who can never find a working SBI ATM🤪