The Tale of DD Charges

I am one of the people who wish for #DigitalIndia as promised by our Prime Minister.

So me, The guy who rarely enters into the bank entered a bank for the need of DD's for some Government work which promotes #DigitalIndia.

Filled forms and I reached the counter of HDFC Bank the cashier explained me the charges.

Cashier: 5 Rs for 1000 Rs + Tax
Me: What?? 5 Rs per 1000? Are you sure?
Cashier: YES....!!
Me: Then I need to check and walkout. (Well ICICI bank charges 3 Rs per 1000, That I know because I transacted with them recently i.e 66% lower than HDFC)

In other words:
That is 500 Rs per Lakh.
In other words it is 0.5% transaction fee.

So I had to speak with the manager who firmly assured me that the problem is I am not rich enough so I won't get free DD's for those amounts. But suggested to speak with the lady to check my account and tell me charges specific to my account.

So the lady told me, I can take 1 DD below 1 Lac Free of Cost per day.
Awesome, Thank you so Much....! Time to walk back home.

Went home, Calculated and conclude on the best compromise between Price Paid and Time.

So I had to get 2 DD's done from ICICI at lower price (66% Lower). Then one from HDFC free as I had to use the privilege account I hold with them.

So overall I saved money worth some beers which I am drinking and peeing right now as I write .

So Watch out for those pesky banking Charges. You can also let me know who gives cheaper DD's so that I can drink more beers in the future.... :D

Also What are your thoughts on increasing Banking Charges? Minimum account balance, Cash Transaction, ATM withdrawal etc etc....




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