Best Bank for Net Banking and Fund Transfer

Discussion in 'Chit-Chat' started by MetalheadGautham, May 20, 2012.

  1. MetalheadGautham

    MetalheadGautham AFK

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    I have a Canara Bank Savings Account for regular use and salary. Liked it because of the number of ATMs everywhere and instant SMS alerts for money credited into account, money debited from account (both via ATM and Debit Card).

    Problem is they are looting people for online transactions @ Rs. 10/transaction (makes no sense paying Rs. 10 extra for a 6 rupees SMS pack recharge to my mobile phone). And I intend to do a LOT of netbanking.

    Hence I want a second account that I can safely use for net banking, credit cards, paying via debit cards, etc. It should have no surcharge for netbanking, no surcharge for fund transfer to another account, should be easy to transfer funds INTO it (by cash, net transfer and cheque) without surcharges and I don't care about how much minimum balance they ask us to maintain. If there are enough freebies and comforts for 10k or even 25k minimum balance, I'm up for it.

    Features I need:

    • No Surcharge for Net Banking
    • No Surcharge for Debit Card
    • No Surcharge for ATM Card
    • No Surcharge for Fund Transfer
    • Secure (VERY SECURE) payment gateway supported widely

    Please suggest some good options!

    If some of you already have canara bank accounts, its nice if you suggest options that can act as compliment to the canara bank account (like for example features already present in CB needn't be present here).
     
  2. ssk_the_gr8

    ssk_the_gr8 Make Way the LORD is Here

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    your asking too much metalhead

    No Surcharge for Net Banking
    No Surcharge for Debit Card
    No Surcharge for ATM Card
    No Surcharge for Fund Transfer

    out of these choose 2 which are most important to you , you might get that, but you wont get all
     
  3. ico

    ico .</br><img src="http://i.imgur.com/XoY1dbu.jpg"/>< Staff Member

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    Charges are always there.

    I use Axis Bank. All fees are mentioned here: Axis Bank

    No surcharge for net banking except a one time fee during opening of account.

    Login and transaction net-banking passwords are different.

    Rs. 5 per outward NEFT transaction. Inward is zero. 5 free ATM transactions per month, it says. Dunno what happens afterwards.

    Dunno about any particular Debit Card charges. Should be there though. I think Rs. 100 if I use my Debit Card ONLINE in that particular month. Otherwise not. Will check and tell you next week.

    Verified by Visa password for Visa debit/credit cards. 3D Securecode (again a password; dunno why called 3D) for Mastercard debit/credit cards. This is present in every Indian bank (RBI has made everyone to comply with this) and used at every desi online website.

    My bank also gives me the ability to create one time use disposable/virtual credit card. (VCC)

    NetSecure enabled. A passkey is sent via SMS to mobile if you do something in net banking website. Example, create VCC.

    Cash deposit is free if my account is in the same branch. If different branch, Rs. 15~ or so. True for every bank.
     
  4. dashing.sujay

    dashing.sujay Moving Staff Member

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    What does that mean? :? Especially the last part. There's no charge like that. And there's only annual debit card maintenance charge, 50/- (can confirm about SBI, can't say about rest).

    20 rs per transaction (including balance inquiry).

    Free in IDBI (they told it, not tried though).

    In HDFC, if you deposit personally (Account holder), then no charges.

    In UBI, no charges except for some branches (99% don't charge, at least here).


    @MHG, I use Union bank extensively (student account), SBI and IDBI. UBI is pretty easy to operate but lacks features like password confirmation via phone for every transaction.
     
  5. ico

    ico .</br><img src="http://i.imgur.com/XoY1dbu.jpg"/>< Staff Member

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    Cash deposit is free. Typo. Cheque I meant there, if on a different branch.

    I'm talking about my Axis. Will verify some day.
     
  6. Naveen.S

    Naveen.S Linux User

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    I have an account in IDBI bank and I am very much satisfied with their services. As per RBI guidelines, NEFT outgoing transaction charges are 5/- below 1,00,000/- transaction.
    No charges for any online transaction. Three tier security for Online transactions like third party transfer or at merchant gateway.
     
  7. techiemaharaj

    techiemaharaj --> Techie - Maharaj

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    Any other bank but not ALLAHABAD BANK !!! No Verified By Visa - so no online shopping. Not listed at many important website under netbanking !!! Plus 5 bucks commission for every NEFT / RTGS transaction..
     
  8. Naveen.S

    Naveen.S Linux User

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    As I mentioned earlier, thats RBI guideline. Bank has nothing to do with it. Bank can let off those charges at its own expense and I don't think if any bank has done that.

    Rest of things about Allahabad Bank, I totally agree with you. One of the worst service provider.

    I would suggest you to go for IDBI Bank.
     
    Last edited: May 20, 2012
  9. digit.sh

    digit.sh New Member

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    @OP
    IDBI bank -- government bank, but service better than most private banks.
    No charge for many services you mentioned.
     
  10. Sudhir

    Sudhir New Member

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    Sbi is best!! Only 100 bucks for silver or gold debit card anually, xpect this, rs 10 for any transaction from Irctc for railway ticket booking!!
     
  11. techiemaharaj

    techiemaharaj --> Techie - Maharaj

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    Govt banks are good...but if u are interested in luxurious service then choose a private bank !!! Govt bank service is PATHETIC !!
     
  12. mrintech

    mrintech New Member

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    HDFC Bank :)
     
  13. KDroid

    KDroid New Member

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    +1 for IDBI Bank. AFAIK, It satisfies all your requirements. Check locally.
     
  14. OP
    MetalheadGautham

    MetalheadGautham AFK

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    Well, THE most important feature is free netbanking. Any suggestions for that ? I don't want to pay Rs. 10/- surcharge.

    I found ICICI Branchfree Banking nice but they don't provide debit card, when 60% of my purchases is through debit card (hotels, petrol, provisions, etc).
     
  15. hsr

    hsr .

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    well, I've been using SBI for over three years and have used their mobile banking for paying bills, transferring money to accounts of other banks in other states, mobile recharge every now and ten, frequent ATM usage, and swipe in at some stores.

    extra charges I've faced is only when going over the limit of max 5 transactions from a non-native bank atm, for which cash withdrawals cost +20 and ministatement/balance +8rs

    They have a feature rich netbanking solution and even vcc service under "sbicard", I've yet to gain a credit card so is not that familiar with CC. Rest, it's very satisfying :)
     
  16. krishnandu.sarkar

    krishnandu.sarkar Simply a DIGITian Staff Member

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    Using SBI and Axis. Both are good.

    I prefer SBI more than Axis.
     
  17. OP
    MetalheadGautham

    MetalheadGautham AFK

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    For a bank with lots of ATMs I don't mindthe max 5 transactions from non-native ATM limit.

    What about Netbanking or mobile banking surcharges ? Do they loot people for each online payment or each online fund transfer ?
     
  18. ssk_the_gr8

    ssk_the_gr8 Make Way the LORD is Here

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    SBI , netbanking transactions are free and they also provide a debit card
     
  19. OP
    MetalheadGautham

    MetalheadGautham AFK

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    Any links to their terms and conditions and list of hidden charges ?
     
  20. hsr

    hsr .

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    I use their mobile banking app almost daily, recharges and funds transfers. I've been charged nothing till now, for anything. Although I found out that my account can't recharge to tata docomo, I've done recharges as low as 10 and max 600, no charges for that either.

    There will be very very few "offers" and "attractive discounts" for the card though. They are now issuing Visa supported cards too, but mine's Maestro, the old :p
     

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