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Canara Bank Hiked Debit Card Service Charges
Canara Bank, a public sector lender, has increased its debit card service charges on various card types. According to the official website, the revised fees will go into effect on February 13, 2023. The bank has raised service fees for the yearly annual fee, card replacement, debit card inactivity fee, and SMS alerts. The above-mentioned service fees are exclusive of taxes. Taxes will be collected in addition. The revised service charges went into effect on February 13, 2023.
Annual fees
The annual fee for standard or classic debit cards has increased to Rs 200, while the fee for platinum and business cards has increased to Rs 500. Canara Bank has announced that it will continue to charge a Rs.1000 annual fee for certain debit cards.
Debit card replacement fees
Canara Bank has increased debit card replacement fees for classic or standard debit cards from NIL to Rs 150. Canara Bank has increased fees for platinum, business, and select cards from Rs 50 to Rs 150.
Inactivity fee
Canara Bank will now only charge a card inactivity fee of Rs 300 per year for business debit card users. Other payment methods will be free of charge. Other card types will incur no fees.
SMS Alert Charges
Canara Bank announced that it will no longer charge Rs 15 per quarter for SMS alerts, but will instead charge Rs 15 per quarter.
The daily cash withdrawal limit for the Canara Bank Debit Card - Standard or Classic at ATMs is Rs. 40,000, and the daily cash withdrawal limit for transactions is Rs. 1 lakh, according to the bank. The Canara Bank Debit Card - Platinum/Select has a daily cash withdrawal limit of Rs. 50,000 and a daily purchase transaction limit of Rs. 2 lakhs.
| Charge Type | Classic/ Standard | Platinum | Business | Select | |
|---|---|---|---|---|---|
| Enrollment Fee | Existing | NIL | NIL | NIL | NIL |
| New | NIL | NIL | NIL | NIL | |
| Activation/Membership Fee | Existing | NIL | NIL | NIL | NIL |
| New | NIL | NIL | NIL | NIL | |
| Annual Fee (Charges Per Annum) | Existing | ₹125/- | ₹250/- | ₹300/- | ₹1000/- |
| New | ₹200/- | ₹500/- | ₹500/- | ₹1000/- | |
| Replacement card | Existing | NIL | ₹50/- | ₹50/- | ₹50/- |
| New | ₹150/- | ₹150/- | ₹150/- | ₹150/- | |
| Debit card inactivity fee (Charges Per Annum) | Existing | NIL | NIL | ₹300/- | NIL |
| New | NIL | NIL | NIL | NIL | |
| Charges for SMS alerts (Charges Per Quarter) | Existing | ₹15/- | ₹15/- | ₹15/- | ₹15/- |
| New | On Actuals* | On Actuals* | On Actuals* | On Actuals* |
