HDFC bank makes online transactions free and they would have to pay for cheques
Cash transactions through HDFC bank make free online transactions through Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) on the other hand the bank had charged Rs.25 for every transaction in the earlier days. Earlier days the customers have struggled with these types of outstanding expenses. They paid Rs.25 each for Rs.2-5 Lakh, and less than 2 lakh like Rs.10000-1 lakh and 1 lakh to 2 lakh they spend Rs. 5 and 15 respectively. This service is free for every customer.
On the other hand, they charged various charges to cheque related transactions such as requesting for additional checkbooks. Earlier days HDFC bank provides one checkbook contains 25 cheque leaves for free that only available at once in a year. And they paid Rs. 75 each for requesting an additional checkbook. Earlier days they provide 2 checkbooks free in every year. This change will affect only the non-managed serving account holders. If a cheque is bounced or returned due to insufficient balance they will charge Rs.500 as penalty fine.
If they do their transactions through the direct bank branch, the service charges will be charged. This service was started from November 1, 2017, with an objective to promote digital economy. NEFT and RTGS are the payment system that connects one to one fund transfers through the internet or by the help of the bank. Once you transfer an amount to another account the money will be deposited to the beneficiary account within an hour. The transaction cost was Rs. 25 this amount is changed now. So that HDFC bank provides their transactions completely free. so we can transfer money from anywhere in the world without pay anything as service charge. The availability of checkbook is going down due to the additional charges for the requesting additional cheques.