7 tactics that make you poorer and the bank richer

During a cash crunch, many companies look for ways to make an extra buck.

Private sector banks, for instance, have introduced a slew of new charges. And like always, the changes are subtle and you will never know about them until you find a debit to your account that you cannot place.

Let's look at how some of them will make a dent in your pocket.

Standing instructions

The going rate has been upped to Rs 150 (from Rs 50, earlier). And there's more; you will pay Rs 25 if you change the standing instructions already given by you.

Miscellaneous charges

Call your bank home – for address confirmation, signature or photograph attestation – and you will end up shelling out between Rs 50 and Rs 100.

ATM transaction

If you are unable to withdraw money due to a lack of funds in your account, the bank will charge you Rs 25 for trying to make that transaction.

Drop box

A charge of Rs 100 to Rs 300 will be levied if you put cash into the drop box! Repeat this and you will be charged up to Rs 500.

Unblocking debit cards

If you have blocked your debit card, you will shell out Rs 100 to unblock it.

New password, IPIN number

Re-issuance of user id, password or IPIN number will be charged henceforth. The charge is Rs 50 per request.

Credit-free days

Several banks have reduced the number of 'credit-free days' by five to 10 days. This will affect the payment cycle of the bill.

In addition to this, there are several other charges such as ECS debit return, cheque return, DD issue and cancellation.

So, ignorance is not bliss!

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