Axis Bank customers usually notice the deduction in their Axis Bank bank statement called Consolidated Charges. And most customers do not understand its meaning so here in this article, we will help you to know all the details related to Consolidated Charges in Axis Bank Account.
In our previous article, we discussed how to generate Axis Credit Card PIN and how to enable online transactions in Axis Bank credit card. In this article, you will get all the important details regarding the Consolidated Account Charges of Axis Bank. Let us first understand what are these charges.
- 1 What does Consolidated Account Charges Axis Bank Means?
- 2 How to Know the Details of deduced Consolidated Charges for Axis Bank?
- 3 Types of Fees and Charges Come Under Axis Consolidated Charges
- 4 Steps to Axis Bank Consolidated Charges Refund
- 5 How to Stop Consolidated Charges in Axis Bank?
- 6 What is BNA Convenience Fee in Axis Bank?
- 7 Final Words
What does Consolidated Account Charges Axis Bank Means?
If you are having an account in Axis Bank then you have to be lived by some charges which are applicable in the name of consolidated charges Axis Bank. It depends on the type of account you are having with Axis Bank. Different charges are applied for the different services and products you are availing from Axis Bank. These charges are deducted from your bank account at the end of the month or quarterly combinedly with GST charges. These charges are called Consolidated Charges in Axis Bank Account.
How to Know the Details of deduced Consolidated Charges for Axis Bank?
There are three options by which you can know about the charges which have been deducted from your account in the name of consolidated charges. These methods are
- Net banking
- Axis Bank Portal
- SMS banking
Steps to know the details of deduced Consolidated Charges for Axis Bank Account by using Net Banking
- Login into your Axis Bank account.
- Then go to the “Account” option
- Select the bank account.
- Click on “View Detailed Statement“
- Now click on “More Services” and select “View Account Charges“.
- From the list of charges select the charge deduced and click on “Levied Charge Details“
- The details of that deducted Consolidated charge will be visible on the screen.
By this method, you can know the details about the deduction which have been made from your bank account named as consolidated charges for Axis Bank Account.
Check the List of Fees and Charges levied under Consolidated Charges for Axis Bank Account (from July 2021)
By visiting the Axis Bank portal you can check the updated list of Fees and Charges levied on Axis Bank customers as Consolidation charges.
From July 1st, 2021 bank is going to revise its Fees and Charges applicable for the different services and products. You can check consolidated charges in Axis Bank salary account or consolidated charges of axis bank current account which are different for different bank accounts, by visiting the website.
Follow the steps by step guide given below
- Go to the portal
- Select your type of Axis Bank
- Check the list of Fees and Charges properly
Know Consolidated Charges for Axis Bank Account by SMS
If you are registered with Axis Bank SMS Alert service then you will receive a text message on your registered mobile number when even any consolidated charges are deducted from your account.
Types of Fees and Charges Come Under Axis Consolidated Charges
Consolidated Account Charges Axis Bank consists of various different fees levied by the bank. Depends on the type of account you are having with Axis Bank. Consolidated charges can be different for different users. Here is the list of the charges which combinedly considered as consolidated charges of Axis Bank
- Charges for Non-maintaining minimum balance in your account
- Charges of ATM withdrawal beyond the limit
- Charges for requesting Cheque book
- Charges for Debit Card annual fee
- Charges for Axis Bank Debit Card Block and Replacement
- Charges for SMS alerts
- Charges for cash transactions beyond the limit
- Demand Draft issue charges/ Revalidation
- Charges for stopping payment of cheque in Axis Bank
- Duplicate bank statement charges
- Duplicate passbook issue charges
- I-connect/ Net secure device charges
- Charges for transaction failures like Auto Debit Failure/ Cheque Bounce/ Standing Instruction Bounce
- Charges for RD standing instruction
- Any other product or services opted by the customer like Locker Charges/ Charges for Demat Account
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Steps to Axis Bank Consolidated Charges Refund
If you find the consolidated charges which have been deducted from your account are not valid or Inappropriate then you can visit your home branch and can contact the bank officials. If it was deducted by mistake or deducted due to a delay in the process at the end of the bank then only in those cases these charges are refundable otherwise there is no provision to refund the amount deducted in consolidated charges. Deductions especially NEFT, IMT or VMT, and IRCTC transaction charges are completely non-refundable even in case of cancellation.
How to Stop Consolidated Charges in Axis Bank?
Consolidated charges in Axis bank are the charges which bank imposes for its services and products. Practically Consolidated charges can not be stopped. But by proper use of your bank account and the services you can escape from the additional burden to be bear in the form of consolidated charges in Axis Bank.
For this, you must check the type of bank account you are having with Axis bank and then utilize the services properly. By this, you can escape from the additional consolidated charges of Axis Bank. In this method you can know about the minimum balance you have to maintain in your account, the number of free transactions of depositing and withdrawing amount, etc. This will help you to reduce the number of charges levied by the bank Axis Bank.
What is BNA Convenience Fee in Axis Bank?
Bank Note Acceptor (BNA) is a cash deposit machine in which customers can deposit a bunch of notes at a time. In this method, you don’t need to visit your bank branch of Axis Bank to deposit your amount. You can directly go to the BNA and can deposit your amount easily.
Though no charges are applicable if you avail of the facility of BNA within the limit but if you deposit your amount after the banking hours it means from 5:30 p.m. to morning 9:30 a.m. or on bank holidays then you have to bear some charges which are called BNA convenience fee in Axis Bank. Currently, BNA charges are Rupees 50 per instant.
Note: It is not applicable to all bank accounts. Some bank accounts are excluded from this charge like Priority, Burgundy, Basic Small Saving Schemes, etc.
It is always suggested to know about the charges and services you are availing from the bank so that you can escape from some unnecessary charges levied by the Axis Bank in the form of consolidation charges. For any of help, you can visit your home branch or can take help from the customer care service at 1860-419-5555/ 1860-500-5555 (call charges apply) which is available 24/7 for helping Axis Bank customers.