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SBI emandate charges

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Deal Subedar
billubakra

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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Finance Ninja Finance Ninja
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only SBI charge for e-mandates.

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

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

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

Deal Subedar Deal Subedar
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+ @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.

Helpful Helpful
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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

Super Stud Super Stud
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what about charges in UPI mandate for IPO’s?

Finance Ninja Finance Ninja
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no charges.

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

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Deal Cadet Deal Cadet
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digital loot
HDFC charged me 118

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

Deal Subedar Deal Subedar
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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.

Benevolent Benevolent
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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.

Deal Newbie Deal Newbie
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50+18%gst {zestmoney +sbi}

Deal Cadet Deal Cadet
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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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I have been charged Rs 50 (25 per transaction) + 18% GST by Axis bank as ECS NACH charges.

These are for Amazon pay later transactions….I have made two Amazon pay later transactions till now.
I’m going to disable the Amazon Pay now….total waste thing!

Please check your accounts linked with Pay later.

#NewBankingLoot

Deal Newbie Deal Newbie
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I have been also charged by sbi 3 times 59 rupees … at the time of e-mandate to set up amazon pay later auto repayment … don’t have any Idea
..

Deal Newbie Deal Newbie
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Why SBI charged me  first time 1000 & 2 nd time 295 today 

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