Why bank is deducting money from my account?

A bank account is debited when a transaction is made, usually with a debit card, billpayer system, or a check. The next step in a debit card transaction is that the bank puts a hold on the account for the amount of the transaction.

What are the charges of Axis bank?

Demand Draft

What is minimum balance in Axis bank?

Axis Bank Minimum Balance Requirements Axis Bank savings accounts require different minimum balance amounts to be maintained, depending on the type of account held and the target audience it caters to. The minimum balance amount ranges from as low as Rs. 2,500 to Rs. 1,00,000/-.

What happens if I don’t maintain minimum balance in Axis bank?

2) If customers are unable to maintain the monthly balance limit, the bank will levy a penalty of Rs 10 per Rs 100 of the shortfall. The non-maintenance of monthly minimum balance charges will be in the range of Rs 50 to Rs 800, the lender said.

How can I refund my consolidated charges in Axis Bank?

If charges were due to banks mistake, such charges can be refunded. E.g.: You had deposited cheque but due to delay from bank staff, the cheque was credited very late into your account and hence stipulated balances criteria was not met and hence consolidated charges were recovered.

What is minimum balance fee?

A minimum balance fee is a fee that many banks charge when your account balance drops below a certain amount. For instance: If the minimum balance required in your checking account is $500, but you only have $400, you would be charged a minimum balance fee.