Dear Customer,
Greetings from Federal Bank.
We are reaching out to inform you about an upcoming change in our fee structure on Federal OneCard. Effective 15-Januray-2024, 1% fee will be levied on transactions done at merchants where the fund transfer is being made to a bank account or to a third-party wallet. This fee will be applicable if your total amount of transfer transactions in a given month exceeds Rs 10,000 or more.
An illustrative example is given below.
Greetings from Federal Bank.
We are reaching out to inform you about an upcoming change in our fee structure on Federal OneCard. Effective 15-Januray-2024, 1% fee will be levied on transactions done at merchants where the fund transfer is being made to a bank account or to a third-party wallet. This fee will be applicable if your total amount of transfer transactions in a given month exceeds Rs 10,000 or more.
An illustrative example is given below.
| Transfer in a month | Fee @ 1% | |
|---|---|---|
| Scenario 1 | First transaction of Rs. 4000 | Rs 0 |
| Second transaction Rs. 5000 done in the same calendar month | Rs 0 | |
| Scenario 2 | First transaction of Rs. 15,000 | Rs 150 |
| Second transaction of Rs. 20,000 done in the same calendar month | Rs 200 (Total Rs 350) | |
| Scenario 3 | First transaction of Rs.8000 | Rs 0 |
| Second transaction of Rs.6000 done in the same calendar month | Rs 140 (Rs 80 + Rs 60) |
