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If you also use debit card then this news is for you. For Classic or Standard Debit Card, Canara Bank has increased the Debit Card Replacement Fee from Nil.
Public sector lender Canara Bank has increased its debit card service charges on various card types. As per the official notification of the bank, the new service charges will be effective from 13.02.2023. The bank has hiked the service charges on annual fee, replacement of card, debit card deactivation fee and SMS alert charges.
Canara Bank said in a statement, ‘The service charges mentioned above are in addition to taxes. Applicable taxes will be collected extra. The revised service charges will be effective from 13.02.2023. So as it is written, the new rates have come into force on the last day.
Canara Bank Debit Card Annual Fee
Annual fee for Classic or Standard Debit card increased from ₹125 to ₹200; For Platinum and Business cards, it has increased from ₹250 to ₹500 and ₹300 to ₹500, respectively. Canara Bank will continue to charge an annual fee of Rs 1000 for select debit cards.
Canara Bank Debit Card Replacement Charges
For Classic or Standard debit cards, Canara Bank has increased the debit card replacement fee from nil to ₹150. Canara Bank has increased the fee from Rs 50 to Rs 150 for Platinum, Business and select cards.
Canara Bank Debit Card Deactivation Fee
For users of business debit cards, the bank will now levy a card deactivation fee of only ₹300 annually. There will be no charges for other card types.
Canara Bank Debit Card SMS Alert Charges
Canara Bank will now levy SMS alert charges on actual basis which was earlier ₹15 per quarter. Explain that for Canara Bank Debit Card – Standard/Classic, the daily cash withdrawal limit from ATMs is Rs 40,000, while the daily cash withdrawal limit for transactions is Rs 1 lakh. Whereas for Canara Bank Debit Card – Platinum/Select the daily cash withdrawal limit is Rs 50,000 and the daily purchase transaction limit is Rs 2 lakh.