SBI emandate charges

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NPCI is phasing out the bill pay method and is forcing customers to go for the E mandate. On their website there are no charges mentioned for this

https://www.npci.org.in/sites/all/themes/npcl/i... Check page number 5

Any idea about where the details of charges are
NPCI will furnish a schedule of charges to all the member banks and shall communicate the charges as and when there is an upward/downward revision. All charges will be exclusive of service tax or any other statutory charges which will be payable separately unless otherwise is clarified

But SBI is charging 118 (59×2) for these mandates. Any idea about this?

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Shopping Friend
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only SBI charge for e-mandates.

use Paytm bank net banking e-mandates (no charges).

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abhishek012 wrote:

only SBI charge for e-mandates.

use Paytm bank net banking e-mandates (no charges).

What is the difference between this & other banks bill pay systems? e.g. HDFC bill pay in their netbanking.

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where you read NPCI is forcing customers to go for the E mandate ? smile

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guest_999 wrote:

What is the difference between this & other banks bill pay systems? e.g. HDFC bill pay in their netbanking.

All companies/banks use NPCI’s Bharat Bill Payment System (BBPS).

Bharat Bill Payment System (BBPS) is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers.

eMandate – eMandate is a digital payment service initiated by RBI and the National Payments Corporation of India (NPCI). It serves as an underlying infrastructure for businesses in India to collect recurring payments without any human intervention. A mandate is a standard instruction that you provide to your issuing bank and other institutions allowing them to automatically debit the mentioned amount from your bank account.

eMandate is a convenient way for businesses and their customers to easily manage all the recurring payments like Bill Pay, insurance premiums, SIPs, loan installment collections, etc. This eliminates the hassles of reminders and late penalty charges that eventually proves to be a win-win for both businesses as well as their customers.

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Deal Subedar
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NPCI is phasing out the bill pay method and is forcing customers to go for the E mandate.

Ye kaha se pata chla rolleyes

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abhishek012 wrote:

only SBI charge for e-mandates.

use Paytm bank net banking e-mandates (no charges).

Where have they mentioned they fee charges for the same?
HDFC also charges for the same bro. Not able to find a charges list anywhere. Are these charges one time only.

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abhishek012 wrote:

where you read NPCI is forcing customers to go for the E mandate ? smile

+ @igen

For whatever purpose a mandate is being created there used to be a billpay option earlier. If you ask them why it has been disabled they would tell you that NPCI has issued a circular to phase out that method.
emandate requires online verification by digio, a private company, I am sure it has some connections that it got this job.

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abhishek012 wrote:

All companies/banks use NPCI’s Bharat Bill Payment System (BBPS).

Bharat Bill Payment System (BBPS) is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers.

eMandate – eMandate is a digital payment service initiated by RBI and the National Payments Corporation of India (NPCI). It serves as an underlying infrastructure for businesses in India to collect recurring payments without any human intervention. A mandate is a standard instruction that you provide to your issuing bank and other institutions allowing them to automatically debit the mentioned amount from your bank account.

eMandate is a convenient way for businesses and their customers to easily manage all the recurring payments like Bill Pay, insurance premiums, SIPs, loan installment collections, etc. This eliminates the hassles of reminders and late penalty charges that eventually proves to be a win-win for both businesses as well as their customers.

Bro 1 question, bill pay method was easy>> set up a biller and limit in your net banking and you are done.

In mandate you need to set up a mandate for a minimum 1 lac and then there are charges to set up these mandates. My friend was also charged 150+gst for setting up mandate by hdfc whereas bill pay has zero charges.

Coming to your point of hassles, reminders. No hassle whatsoever in bill pay and one used to get regular reminders in bill pay.
About penalty, say you miss some ecs in bill pay then no penalty from the bank’s side. But in emandate till 1 lac it is 250+gst.

Don’t you think, from customer’s pov, billpay is better?

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billubakra wrote:

Bro 1 question, bill pay method was easy>> set up a biller and limit in your net banking and you are done.

In mandate you need to set up a mandate for a minimum 1 lac and then there are charges to set up these mandates. My friend was also charged 150+gst for setting up mandate by hdfc whereas bill pay has zero charges.

Coming to your point of hassles, reminders. No hassle whatsoever in bill pay and one used to get regular reminders in bill pay.
About penalty, say you miss some ecs in bill pay then no penalty from the bank’s side. But in emandate till 1 lac it is 250+gst.

Don’t you think, from customer’s pov, billpay is better?

@abhishek012

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billubakra wrote:

Bro 1 question, bill pay method was easy>> set up a biller and limit in your net banking and you are done.

In mandate you need to set up a mandate for a minimum 1 lac and then there are charges to set up these mandates. My friend was also charged 150+gst for setting up mandate by hdfc whereas bill pay has zero charges.

Coming to your point of hassles, reminders. No hassle whatsoever in bill pay and one used to get regular reminders in bill pay.
About penalty, say you miss some ecs in bill pay then no penalty from the bank’s side. But in emandate till 1 lac it is 250+gst.

Don’t you think, from customer’s pov, billpay is better?

contact HDFC bank.

yeh sab bank ka kiya dhara ha. NPCI never forcing customers to go for the E mandate.

and no emandate charges in paytm payments banks.

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abhishek012 wrote:

contact HDFC bank.

yeh sab bank ka kiya dhara ha. NPCI never forcing customers to go for the E mandate.

and no emandate charges in paytm payments banks.

Sorry bhai it was sbi bank. My friend went to the branch to ask about the charges yesterday, they said npci has charged it. Whereas npci’s website doesn’t mention anything about it

https://www.npci.org.in/sites/all/themes/npcl/i...

Check page 5 and 6.

If not npci then maybe sebi/bse or whoever is taking people’s money through sips’s.

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billubakra wrote:

Sorry bhai it was sbi bank. My friend went to the branch to ask about the charges yesterday, they said npci has charged it. Whereas npci’s website doesn’t mention anything about it

https://www.npci.org.in/sites/all/themes/npcl/i...

Check page 5 and 6.

If not npci then maybe sebi/bse or whoever is taking people’s money through sips’s.

SBI bank charge mandate fee Rs59 something.

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abhishek012 wrote:

SBI bank charge mandate fee Rs59 something.

Is that one time charge? Didn’t sbi waive off all charges?
And have they mentioned about this on their site?

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billubakra wrote:

Is that one time charge? Didn’t sbi waive off all charges?
And have they mentioned about this on their site?

Visit here for more info - https://bank.sbi/webfiles/uploads/index/3008201...

National Automated Clearing House (NACH) Mandate (including ‘E’ mandate)

One time Mandate Authorisation Charges per mandate - ₹50/- + GST

Failed Mandate - ₹250/- +GST

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I have been charged Rs. 59 by Kotak as ECS mandate charge. It might be for activating Amazon pay later service . Any idea is the charge recurring in nature?

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RockChap wrote:

I have been charged Rs. 59 by Kotak as ECS mandate charge. It might be for activating Amazon pay later service . Any idea is the charge recurring in nature?

AFAIK, it’s one time.
@abhishek012 It is not charged every year, right?

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ICICI also charged me 118 for LIC Home loan e mandate charge

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Aise charges bahut chubhte hai lol
Banks earn crores of rs. like this every week but all that money is spent on their employees in sarkari banks and on ads+branding/management plus hni in private banks.

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RockChap wrote:

I have been charged Rs. 59 by Kotak as ECS mandate charge. It might be for activating Amazon pay later service . Any idea is the charge recurring in nature?

I got charged today too wink

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It seems that the earlier free system of auto ECS has now been termed as e-mandate and a charge is levied from the customers. It also appears that banks have been made to utilise the services of a particular private entity and the charges may be directly going to such private entity.

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Now read this, i took a small personal loan with nach ecs payment enabled..Forgot to fund that account for few days …I was charged later when i funded that account and the penalty charges were 590*5=2950 rs just for penalty..even emi was less than the penalty itself

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