Bank Charge

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Bank Charge

Any fee that a bank assesses on an account. An example of a bank charge is a monthly or annual fee for the privilege of maintaining an account. Other bank charges include overdraft fees (which are placed on a checking account when a holder withdraws more money than he/she has) and inactivity fees (which occur when a holder does not conduct a transaction for a certain period of time). Bank charges form a significant portion of banks' revenue.
References in periodicals archive ?
Regardless of the amount, Poe said in her resolution that an increase in bank charge is "disadvantageous to an estimated 4.1 million minimum-wage earners who would need to carry the burden of these fees as many of them receive their salaries through ATM cards and withdraw from these machines at least twice a month."
In a statement on Thursday, Senator Grace Poe, panel chair, warned that an increase in bank charge is 'disadvantageous' to an estimated 4.1 million minimum-wage earners, who receive their salaries through ATM cards and withdraw from these machines at least twice a month.
Back in 2005, early in my career, I was the big gob behind a campaign to get people to reclaim unfair bank charges for busting their overdrafts.
USB bank charges e1/412, Eurobank e1/48, while the first cheque book is free at RCB and each one after that costs e1/410.
The N50 goes to the bank, whilst the N2.50 goes to FIRS as Value Added Tax (all bank charges attract five per cent VAT).
So, am I better off having a current bank account and paying monthly bank charges as well as charges for buying call credit, or having a MoMo account and receiving quarterly interest and not paying any charges for buying call credit?
'We reckon that Filipino workers abroad will spend $3.1 billion in bank charges when they send home $29.3 billion this year,' said Bertiz.
Bank charges have ruined many lives, as they were designed to be tough to repay, leaving people to accrue charges on top of charges.
One of the highest charges shouldered by customers are for debit card transactions abroad, which are often far above official exchange rates and is actually in violation of the guide to bank charges monitored by the Central Bank of Nigeria (CBN).
Global Banking News-June 15, 2016--Reserve Bank of Zimbabwe cuts bank charges
KE's statement said that there is no sort of duplication of such charges in its bills as claimed by NEPRA and these bank charges are not a part of KE's OandM which has been cleared time and time again in letters directed to NEPRA.
It directed the power utility to estimate the collection under the head of bank charges and return the amount back to the consumers.