New Delhi: YES Bank in a communication sent to accountholders stated that it has revised the fee charged on Smart Salary Account services, which is likley to affect several account types, including Smart Salary Advantage, Smart Salary Exclusive, Smart Salary Platinum, and Smart Salary Platinum Pro accounts.
Know more about the revised fees on services offered by YES Bank for salary account holders:
The Rupay Debit Card for the Smart Salary Advantage Account will incur an annual fee of ₹199, while Engage Debit Cards will be provided free of charge for Smart Salary Exclusive Account holders. Explore Debit Cards are offered free to Smart Salary Platinum and Smart Salary Platinum Pro account holders. Replacement of a lost or stolen debit card will cost ₹199, and PIN regeneration through a branch will be ₹50 per instance.
For ATM transactions, Smart Salary Advantage Account holders will have the first five transactions at other bank ATMs each month free. Beyond that, financial transactions will cost ₹21 each, and non-financial transactions will be ₹10 each. For other Smart Salary account types, these transactions remain free. International ATM transactions will cost ₹120 per withdrawal and ₹20 per balance inquiry. Insufficient funds at ATMs will incur a fee of ₹25 per instance, and a cross-currency markup fee of 3% will be applied for international debit card transactions.
YES Bank charges on account-based transactions
RTGS and NEFT payments made through branches will incur charges. IMPS transactions through net banking, mobile banking, or branches will also be charged, with specific fees based on transaction amounts. Payable at per cheque issuance offers 10 free cheque leaves annually after which a fee of ₹3 per cheque leaf will apply.
Combined monthly cash transaction limits (deposits and withdrawals) at branches and Bunch Note Acceptor (BNA) machines are set at Rs 1 lakh or 2 transactions, whichever is breached first. Transactions beyond this limit will attract a charge of Rs 4.5 per Rs 1,000, with a minimum fee of Rs 150.
YES Bank miscellaneous charges
Cheque returns due to insufficient funds at Rs 350 for the first instance and Rs 750 for subsequent instances.
Returns for other reasons will cost Rs 350 per cheque.
ECS returns due to insufficient funds will be charged Rs 500 for the first return and Rs 550 for subsequent returns.
Stop payments for cheques processed via branches will incur a fee of Rs 100 per instruction.
All about YES Bank Smart Salary Accounts
YES Bank’s Smart Salary Accounts are zero-balance accounts provided the salary is credited regularly. If salary credits stop for 3 months or more, the account may be reclassified as a Regular Savings Account. The bank will notify customers of such changes via SMS, email, or letter. Customers are advised to keep their contact details updated with YES Bank to receive timely notifications about any changes to their accounts or fees.
Services offered:
Online intra-bank and inter-bank fund transfers
Passbook issuance
Duplicate passbooks
Access to YES Bank digital channels
YES Bank has revised charges for services offered to Smart Salary Accountholders effective August 2024. Here’s what has changed Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
