Is there any Cheque clearing charges?

Is there any Cheque clearing charges?

RBI does not allow banks to charge more than ₹150 per cheque for speed clearing of cheques worth over ₹1 lakh; there are no charges for values up to ₹1 lakh. Keep in mind that you will also have to pay a fee of ₹100-150 if your cheque bounces, whether you are the issuer or the depositor.

How many days take for cheque clearance?

The time-frame for collection of cheques drawn on state capitals and major cities has been capped at seven days and ten days respectively. For all other locations, banks have to clear the cheque within 14 days.

What is MAB charges in KVB?

Account Related Charges

Nature of Services	Individuals / Sole Prop. / Partnership Firms / Companies / Trusts and Others in Non-Rural Areas
Current Accounts	Free where MAB is Rs. 25,000/- & above Rs. 1.25/- per transaction if MAB is below Rs. 25,000/- (Minimum Rs. 25/-)
Overdraft / CC Accounts	Rs. 1/- per transaction

How can I check my cheque status in Karur Vysya bank?

Steps to to Check Karur Vysya Bank Cheque Status:

1. Type an SMS as KVBCHQ.
2. And send this SMS to 9244770000 using your registered mobile number.
3. The bank’s automated system will check the status.
4. And you will receive an SMS from the bank containing the status.

What is process of cheque clearing?

The clearing process begins with the deposit of a cheque in a bank. The cheque is passed for payment if the funds are available and the banker is satisfied about the genuineness of the instrument. The cheques that are unpaid are returned to the presenting bank through another clearing called the Return Clearing.

What is the maximum amount of cheque?

As per the RBI guidelines issued last year, banks can enable this facility for all account holders for cheque amounts of Rs 50,000 and above at the discretion of the account holder. However, banks may consider making it mandatory for cheques of above Rs 5 lakh.

What if minimum balance is not maintained in KVB?

A penalty of Rs. 200/- will be levied for non-maintenance of minimum balance.

What are AMB charges?

AMB – Average Monthly Balance. AQB Slabs (in Rs.) Balance Non-Maintenance Charges* (per quarter) – Rural Branches.

What is cooling period in KVB?

Beneficiary registration will be confirmed through SMS. Registration will be activated after a cooling period of 3 hours from the time of registration. Transfer of funds to the newly added beneficiary can be done only after successful activation of the beneficiary.

How can I get mini statement from KVB?

For Account Statement enquiry, give a missed call to 09266292665 from your registered mobile number. You will receive an SMS showing the last 3 transactions in your account. For Customer ID, give a missed call to 08882101234 from your registered mobile number.