Sep 21, 2017 11:10 AM
2828 Views
The Bank has every thing a common man requires. The advancement of technology has brought bankers to have their golden times. The time they work is less and collect very much on each of their customers. The whole scenario of banking in State Bank of India is a expensive game to play with. They charge SMS facility about 15-32 per account. The service charges are now getting more and more expensive. If we deposit money from different bank then the deduction also there. If there is a IMPS transfer facility, it charges 25 rupees per transfer of amount less than 10 thousand Rupees. If the amount is in lakhs the service charges will apply even more.
The deposited money will be under very low interest and if we get the loan the interest will pile upon very much higher than the deposited money earns. The ATM machines will be faultier every now and then showing the play cards written with Out of Service/ No cash. The depositing machines stop working every now and then with the server issues. The withdrawal from banks nearby branches will also attract the inter bank charges for handling cash transactions.
There is always problem with the phone banking. The services are very little and get the peak times, the phone handling will become more complicated. The transactions will take time and will have the stress levels very high at the time of transactions. If we put the money for IMPS transaction, it should happen immediately, I have put the money into my bank account and it will not accept the imps transaction from my account to subsidiary State bank of Hyderabad account. It always makes the complications in the transactions. The proof of payment will also not be there if the online transactions are declined.
There are lot of other banks where the zero balance maintaining facilities are there. If we have zero balance in SBI then it is feast for the bank, they charge penalty like hell until we put money back into the account. The minimum balance should be from 500 to 5000 where it can penalize account holder nearly 20% of the minimum balance. It is very harsh on common man. Really it is very hard to handle SBI account now. The loot is going on in the State Bank of India. I actually want to open a bank account in different bank to stay away from the cutting/ penalties and many surcharges of State bank of India.
Internet banking is good and it is very easy with the SBI online account. The service has to be free of cost and should do it quickly. But the inter bank transfer files charges more than it requires to do. The prickle charges are put on the customers not on itself. There is a very big gap between the customer service and customer satisfaction.
If we do transactions more than 5 times in a month through ATM, it also attracts service charges and then also will penalize customers to have cash transactions.
There is a cluster of ATM network which gives trouble to the customers, no fixed time for repairs and all. It is very hard to depend on the ATM machines in Metro cities.
I am very cool staying away from the State Bank of India for now. It is now the I have researched about some banks, which offer nearly 6% of interest on my deposits in the bank, and will handle all the services for free. They get me the detailed report of my monthly transactions through mail and let me handle the internet banking and other services any time and any where. They don't wait for the next working day to complete the transactions.
