What is excess cash deposit charges?

What is excess cash deposit charges?

For example in SBI: In the personal segment, the maximum amount of cash deposit that SBI customers can currently make at non-home branches is ₹25,000 per day. You will be charged Rs. 2/- for every Rs. 1000/- there after. This is what you have asked I believe – Excess cash deposit charges.

What is excess cash deposit charge in SBI?

Cash deposit transactions SBI is offering three transactions free every month for deposit of cash. If the cash deposit transaction exceeds three, then Rs 50 plus GST will be charged per transaction.

Why do banks charge a cash deposit fee?

To make a profit and pay operating expenses, banks typically charge for the services they provide. When a bank lends you money, it charges interest on the loan. When you open a deposit account, such as a checking or savings account, there are fees for that as well.

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Do banks charge a fee for depositing cash?

While there’s been a talk of banks charging customers fees for making cash deposits, none of the major banks have implemented this kind of policy to date. That means that as long as you’re making the large cash deposit into a personal checking or savings account, you won’t pay a fee for this service.

What is excess cash?

Excess cash is the amount of cash in excess of what the company needs to run its business, in other words cash that can be paid out to investors without harming the business. Excess cash is calculated as follows: Cash and Short Term Investments or. Total Current Assets – (2 * Total Current Liabilities).

What is excess cash deposit charges in IDBI Bank current account?

5/- per transaction Cash deposits (Home & Non Home Branch) Charges beyond free limit – Rs. 2.50/- per 1000 (Min Rs. 25& Max Rs. 10,000) Free (upto Rs 50,000/- per day only) The services allows you to operate your account from any IDBI bank branch across India.

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How can I stop the 295 SBI charges?

first file a complaint on SBI website or SBI phone. Once they give reply then file complaint on fraud RBI CMS. you will NOT get back your money but try your luck. if you get back money then buy Lottery ticket.

Is it OK to make a large cash deposit?

You can deposit as much as you need to, but your financial institution may be required to report your deposit to the federal government. That doesn’t mean you’re doing anything wrong—it just creates a paper trail that investigators can use if they suspect you’re involved in any criminal activity.

Why is excess cash bad?

Excess cash has 3 negative impacts: It lowers your return on assets. It increases your cost of capital. It increases overall risk by destroying business value and can create an overly confident management team.

What should I do with excess cash?

What Should You Do with Excess Cash?

  • Pay off high-interest debt. One of the best answers to “what to do with extra cash right now” is to pay down any high-interest debt.
  • Add to your emergency fund.
  • Max out your retirement account.
  • Save for your kids’ college.
  • Start a Future Opportunity Fund.
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What is the meaning of Mab charges in IDBI Bank?

MAB (Monthly Average Balance) as per Branch Categorization. Common Service Charges. Non Financial – Rs 30 per transaction. Financial- Rs 140 per transaction.