INSUBCONTINENT EXCLUSIVE:
Cheque bounce charges levied by SBI, ICICI Bank and HDFC Bank are subject to GST.Many a times it so happens that if you draw a cheque in
favour of someone, the cheque gets bounced for one reason or another
Most banks today levy certain charges from their customers in case a cheque bounce occurs
These charges towards a cheque bounce vary from one bank to another
Cheque bounce charges stipulated by SBI or State Bank of India, HDFC Bank and ICICI Bank vary depending on factors such as the reason and
Cheque bounce charges levied by SBI, ICICI Bank and HDFC Bank are subject to GST or Goods and Services Tax.If a cheque bounce occurs due to
insufficient funds or signature mismatch, both the defaulter and the payee are charged by their individual banks
However, a bounced cheque can be redeposited.Here's a comparison of charges levied by SBI, ICICI Bank and HDFC Bank in case of a cheque
bounce: SBI cheque bounce charges, as mentioned on the bank's website - sbi.co.in:Cheque/bill deposited with us returned unpaid by others
(Local/ Outstation)Cheque/bill up to 1.00 lakhRs 150/- + GSTCheque/bill above 1.00 lakhRs 250/- + GSTCheque Returned Charges for Cheques
drawn on us (for insufficient funds only)For all customers Rs 500/- + GST, irrespective of the amountCheque returned charges for Cheques
drawn on us(for technical reasons) for all customers.(Not to be charged where customer is not at fault as perRBI guidelines)Rs 150/- +
GST HDFC cheque bounce charges, as mentioned on the bank's website - hdfcbank.com:Cheque return charges drawn on us - LocalDue to
insufficient fundsFirst cheque return in a quarter - Rs 350From second cheque return in the same quarter - Rs 750 per returnCharges due to
funds transfer cheque return - Rs 350Due to technical reasons - Rs 50/-(ex
- Alteration not allowed, Amount in Word / Figures Required, Cheque Altered - Refer to Drawer, etc.)Cheques deposited returned unpaidCharge
of Rs 100 per instanceStop payment charges (request from customer not to honor cheque issued) at BranchesParticular cheque - Rs 100Range of
cheques - Rs 200No Charge through PhoneBanking and NetBanking ICICI Bank cheque bounce charges, as mentioned on the bank's website -
icicibank.comCheque ReturnsLocal cheque deposited by customerRs.100 for every cheque return for financial reasonsCheque issued by
customerRs.350 for one cheque return per month; Thereafter, Rs.750 per return in the same month for financial reasons Rs.50 for
non-financial reasons except for signature verificationTransfer cheque returns will be charged at Rs
350 per return for financial reasonsOutstation cheque deposited by customerRs.150 plus other bank charges at actuals per chequeAll the three
banks also levy ATM and debit card charges.If you fail to maintain minimum balances in your savings accounts with these banks, your are
