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In India, Pricing of a product and seriveces depends on so many factors. In fact, Unions have no place here. The pricing is the prerogarative of the bank management. They fix the price of a product considering the profit of the bank, the demand for the product, total cost spent for the product, the demand and supply position in the market, competition from the competiting banks, etc. That is why it appears to be high for common customers. But compared to Foreign banks operating in India, the cost of products as well as services, in most cases, are really reasonable and cheaper. In addition to this, banks in India have a touch of congeniality in theri service and as many survey results have indicated, their services can really match with those of foreign banks operating in India.
In fact, if one can say the Indian banks serve their customers with head and heart, with a lot of compassion and dedication.
M.J. SUBRAMANYAM, BANGALORE, INDIA
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∙ 11y ago
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What fees do banks charge for various services?
Services charges and fees vary from bank to bank, so it is impossible to say. For example, some banks now implement a charge for mailing paper statements, something that was unheard of until recent years. From what I have seen, those charges range from $4 to $10 a month.
Why do banks charge fees?
They charge a fee because they are providing you a service. A bank account or a loan or any other product or service provided by the bank will involve some kind of expenditure on their part to provide it to you. So, they charge you a fee to recover those expenses and make a profit.
What factors hinder growth of rural banks in the world?
Profitability is the biggest factor that would hinder the growth of rural banks. Rural banks operate in villages and rural areas of a country. The number of customers and the kind of services that are offered in rural banks are significantly lesser than regular banks. Banks cannot charge any fee because rural customers wouldn't want to pay any fee to operate bank accounts and may not deposit much money either. So, the banks cant make much profits through their rural branches. So, banks may not be motivated much to open or operate such branches.
What fees do banks charge?
Everything that they can get away with, for instance, monthly checking, overdraft charges, NSF cheques, stop payments , drafts and money orders for starters. Of course not every bank is the same so you are better off to check with your local branch and maybe they can set you up with a package deal.
Is it considered check kiting when the supposed perpetrator is paying for the bank charges?
No, many banks would rather cover your check, they refer to that as being a "interest free loan". Based on the recent financial problems at banks they have been making record profits from "bank fees". If a bank customer has 20 dollars in her account and a check comes up for 100 dollars the bank can simply return the check and charge the customer a handling fee for NSF. But if the bank accepts the check and covers it they can still charge the NSF fee and charge the negative balance charge, while they wait for your next direct deposit they can also charge you a daily overdraft charge of 5 - 15 dollars per day. Now the bank has made a large profit off of a small customer mistake. What could have been a small NSF for the customer and a small NSF profit for the bank now turns into a 120 dollar profit for the bank "the interest free loan" When the deposit is made in the customers account the bank then collects the money it is owed. This has been very popular by banks, now laws have been put in place that force banks to offer a choice to customers. So a simple answer to your question would be it is not check kiting if the bank has a history of extending funds to the customer in return for charging multiple fees that have been repaid by the customer. Do the math, if you could give a 100 dollar loan and collect the 100 dollars plus 120 in fees 5 days later that would be great, and banks are doing it and it has been a blessing for banks in trouble! This rate is much higher than a payday loan company, look at the bad press they get! That is why banks are now being directed by the government that an option must be extended to the customer as to how the transactions should be handled! Next time you get a account update in the mail check over it as it could relate to this!
What fees do banks charge for various services?
Services charges and fees vary from bank to bank, so it is impossible to say. For example, some banks now implement a charge for mailing paper statements, something that was unheard of until recent years. From what I have seen, those charges range from $4 to $10 a month.
Why do banks charge fees?
They charge a fee because they are providing you a service. A bank account or a loan or any other product or service provided by the bank will involve some kind of expenditure on their part to provide it to you. So, they charge you a fee to recover those expenses and make a profit.
Why do states get boundaries?
So they know who to charge taxes and fees on.
Can a Power of Attorney charge fees?
That is my question...can a person who holds the power of attorney for another person charge fees in the state of Georgia? And if so, is there some type of fee structure?
Is it fair practice for eBay to charge for their services AND collect Paypal fees too?
eBay charges fees and paypal charges fees all the fees are not just going to eBay so yes it is fair
Why bank offer refinancing?
Banks charge a fee to you to refinance, so they make money on it.
What factors hinder growth of rural banks in the world?
Profitability is the biggest factor that would hinder the growth of rural banks. Rural banks operate in villages and rural areas of a country. The number of customers and the kind of services that are offered in rural banks are significantly lesser than regular banks. Banks cannot charge any fee because rural customers wouldn't want to pay any fee to operate bank accounts and may not deposit much money either. So, the banks cant make much profits through their rural branches. So, banks may not be motivated much to open or operate such branches.
Can an attorney charge two retainer fees?
Generally, unless the fees are excessive, attorneys are free to charge as much or as little as they want, and do so with whatever fee schedule they want. If the client does not like the billing method, they can hire a different attorney. It is common for attorneys to charge a set retainer that they bill against. Once that retainer has been used, they would then ask that the retainer be replenished.
You received a 1 savings account earning 6 on your 1st birthday How much will you have in the account on your 30th birthday if you don't withdraw any money before then?
Probably none, or a negative balance. Banks usually charge fees for accounts below a minimum balance, and so you will have nothing by the time you are 30. I had an account when I was 6. My mom put $25 in for me (which was the minimum balance at the time). I go back when I am 18, and they had charged fees and cancelled the account... they took my passbook. It is a nice idea to leave the money there and have it collect more money... unfortunately, banks nickel and dime you to death, so it doesn't work.
Why do banks charge a fee on insufficient funds when they know there is not enough money?
Although it seems like they are trying to get blood from a turnip, they really have the fees there so that customers will not constantly run their accounts to zero and below. A customer who keeps an amount that will cover a check anytime ($200?) and/or has a savings account with that amount or more linked to the checking account is unlikely to ever have to pay these fees.
Are there any banks with low nsf fees or banks that do not engage in the practice of putting the largest checks first so they can charge $35 for a cup of coffee ?
There is a bank that just recently stared advertising on TV. The name of this bank is Ally Bank and you can find them on web site www.ally.com. They advertise that they are an honest bank, that is looking out for you, and do not sneak anything past you in the fine print.
Can you use a bank giro credit slip if you are waiting for money to clear in your own account?
Some banks allow you whereas some don't. I know that when you pay a cheque in to Barclays Bank it shows up as part of your balance. NatWest, however, adopt a similar stance. It won't register until payment has cleared. Just be mindful. Banks are so quick to charge you fees for this and that these days.
