SBI Card has started charging Rs 100 for payment through cheque if the amount is up to Rs 2,000 and anything above will attract no fee.
“A fee of Rs 100 will be charged for payments made by cheque for an amount less than or equal to Rs 2,000 w.e.f April 1, 2017,” SBI said.
The move is aimed at encouraging digital payments in line with the government’s policy, SBI said.
CEO of SBI Card Vijay Jasuja said that over 90% of its customers make payments through non-cheque mode.
“We have observed a trend of payment related disputes arising in small cheque payments, causing inconvenience to customers as well. We offer several seamless digital modes of payment which we are seeking to encourage, in line with the government’s focus towards digital payments and this step will facilitate the same,” he said.
SBI Card is a joint venture between State Bank of India and GE Capital. GE Capital takes care of the technology and processing while SBI Cards and Payments Services (SBICPSL) focuses on customer acquisition and marketing.