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Debit Card Charges in India

IamCheated.com Research Team | July 18, 2018  1:52:pm

I am sure debit cards issued by banks, help you perform many tasks. These tasks include withdrawing money from the ATM, making payments at points of sale, online payment of utility bills, shopping on e-commerce sites and so on.

Even though banks issue debit cards free of cost, when you avail them for the first time, it attracts many other charges. These charges include annual maintenance charges, charges for reissuing of cards, charges for regeneration of the debit card PIN and so on. Leading banks like SBI, ICICI Bank, and HDFC Bank charge Rs 200 to Rs 300 for reissuing a debit card.

1. Annual maintenance charges

A debit card is issued by banks for an account you have opened with them. Every year banks charge you an annual maintenance for maintaining your cards.

Annual maintenance charges vary from card to card. SBI, HDFC, PNB and Axis bank charge between Rs 100-150 for classic cards. Bank of India charges Rs 60 for semi-urban and rural areas and Rs 120 for metro and urban areas.  HDFC bank charges Rs 750 as an annual renewal fee for the platinum debit card.

ICICI bank does not charge an annual maintenance charge for its debit cards. But it charges a joining fee and annual fee of Rs 499 each for the Coral debit card.

The annual card fee of Rs 2,499 is charged for Yes Bank’s First World debit card. But it will be waived off for some customers. Yes Bank charges an annual fee of Rs 5,99 on its Platinum cards.

See Also: How To Use A Credit Card?

2. Charges for debit card re-issuance/ replacement

State Bank Of India, ICICI Bank, Punjab National Bank and HDFC Bank Charge Rs 200 for the replacement of the card in case of damage or a loss. Bank of India charges Rs 120 and Yes bank charges Rs 149 for the replacement of the debit card.

3. Regeneration of debit card PIN

The leading banks like HDFC bank, State Bank of India, Punjab National Bank and Axis bank charge Rs 50 plus GST for regeneration of PIN for a debit card through a branch. Bu,t the banks do not charge any money if customers generate an Instant PIN. Customers set a PIN using net banking or mobile banking.

ICICI bank charges Rs 25 for regenerating its debit card PIN. These charges are not levied if request through Instapin is made at the Branch/Customer Care.

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