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A Service Charge is a monetary charge a bank might deduct from a customers account for the services provided by them.

For ex: Some Banks in India that provide a customer with an International VISA Debit card charge them an annual fee of Rs.100 per card. This is a charge the customer has to pay in order to utilize the benefit of having an international debit card.

Apart from this, there are many other charges a bank might levy on its customers. For more details you can visit the website of the bank in which you hold or wish to hold an account.

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Q: What does a service charge mean on a bank statement?
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