Tuesday, May 1, 2007

Service Charge for using cheques

Banks are trying to come up with a service charge of Rs 15 each time someone uses a cheque. They claim that they need to pass the cost of handling cheques to the customer . This is just outrageous . Banks need to be more efficient and upgrade their systems to absorb the cost . I live in the U.S and I don't see banks charging a service charge for cheques for regular accounts . RBI needs to squash this move .

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