Folio Charges in Current Accounts

[tuhin]

Recently I opened a BOB LITE CURRENT A/C & found that there was the folio charges for 25 transaction entries or part thereof. Later, I searched the same type of transactions in several other banks & found, most of banks are levying Folio Charges in Current Accounts. In the best case scenario, MAB beyond 25K is having atleast 1 folio free. I have few doubts here:

1. If someone has entries less than the mentioned numbers like less than 25 entries for BOB case, will it incur one folio charge i.e. Rs 125+ GST?


2. There are numeric videos on Utube, stating that bank is counting UPI transactions under folio entries & levying charges. Numeric videos on BOB LITE A/C where bank charged Rs 147 even on UPI transactions but rate charter is saying ADCs are free of cost. What is your experience on it?


3. If there is one (1) cash deposit in branch other 10 transactions are UPI induced one, total (10+1=11) 11 transactions. Will it incur the folio charges i.e. Rs 147 (for BOB) ?


4. Is bank also counting RTGS/NEFT (inward/outward) through NetBanking/MobileBanking under Folio? What about BOB Specially?


5. Is there any tricks to avoid folio charges even after skipping 25K MAB for most of the cases.

 

[drvirag]

no u cant avoid this. Canara doesnt have folio charges for upi transactions.
It doesnt make sense folio charges coz now bank does not make physical registers. everything is now digital but still charges continue.

 

[tuhin]

no u cant avoid this. Canara doesnt have folio charges for upi transactions.
It doesnt make sense folio charges coz now bank does not make physical registers. everything is now digital but still charges continue.

Do you have BOB Current account? Are they counting Folio for UPI Transactions?

 

[drvirag]

Do you have BOB Current account? Are they counting Folio for UPI Transactions?

no i dont have bob current. but every bank charges except for few specific account variants.