YES Bank Revises Charges on Debit Cards, ATMs, and Cash Transactions from October 1

YES Bank has announced significant changes to its Smart Salary account structure, effective from October 1. The revision will impact debit card issuance, ATM withdrawals, cheque penalties, cash handling, and account maintenance. Customers holding Smart Salary Advantage, Smart Salary Exclusive, Smart Salary Platinum, and Smart Salary Platinum Pro accounts will need to be aware of the revised terms to avoid additional costs.

Debit Card Issuance and Renewal Fees

The new fee structure makes debit card fee waivers conditional on account activity. For Smart Salary Advantage customers, a RuPay Debit Card will now cost Rs 199 as a joining fee. Other variants will enjoy a waiver if customers receive a salary credit of at least Rs 10,000 in any of the first three months after opening the account, or if they maintain an average monthly balance (AMB) of Rs 10,000. Renewal fees are also linked to the same conditions. If not fulfilled, charges range from Rs 199 for RuPay Debit Cards to Rs 599 for premium Explore Debit Cards.

ATM Transaction Charges

For Smart Salary Advantage and Exclusive account holders, the first five ATM transactions will remain free. After this, customers will be charged Rs 23 for each financial transaction and Rs 10 for non-financial transactions such as balance enquiries. International transactions will attract a fee of Rs 120 per withdrawal, while overseas balance enquiries will be billed at Rs 20. Additionally, a 3 per cent cross-currency mark-up will apply to all foreign currency transactions.

Overseas Transaction Costs

International usage of YES Bank debit cards will now come at a higher cost for frequent travellers. Beyond the Rs 120 per withdrawal and Rs 20 per enquiry, customers must also factor in the 3 per cent currency conversion mark-up, which can significantly add to expenses abroad. This makes it crucial for account holders to plan overseas usage carefully to avoid unnecessary charges.

Cash Transaction Limits at Branches

Branch-based cash transactions will remain free up to Rs 1 lakh or two transactions per month. Any transactions beyond this limit will attract charges of Rs 4.5 per Rs 1,000, with a minimum fee of Rs 150. This change encourages customers to shift to digital platforms and reduce dependency on physical banking.

Service Charges for Branch Requests

Routine services such as debit card replacement, PIN regeneration, or retrieval of transaction slips will now come with additional costs. These fees will range between Rs 50 and Rs 250, depending on the service. Customers who rely heavily on branch-based support may therefore see a rise in their banking costs.

Non-Maintenance Charges

Failure to maintain salary credits or the required balance will result in non-maintenance charges (NMC). If no salary is credited for three consecutive months and the AMB is not maintained, a penalty will apply. The charge will depend on the shortfall and range from 5 per cent to 10 per cent, with a cap of Rs 750 per month. This move highlights the importance of either ensuring regular salary deposits or maintaining the required balance.

Cheque Bounce and ECS Return Penalties

YES Bank will also impose strict penalties for cheque bounces and ECS returns due to insufficient funds. A cheque bounce will cost Rs 500 for the first instance and Rs 750 for subsequent occurrences. For ECS returns, customers will be charged between Rs 500 and Rs 550 from the second instance onwards. These penalties underline the need for customers to ensure adequate funds in their accounts before issuing cheques or standing instructions.

Stop Payment and Statement Charges

Additional charges of Rs 100 each will apply for stop-payment instructions and for physical account statements. While digital banking customers may not be affected, those who depend on paper-based records or manual cheque handling will need to account for these extra costs.

Key Takeaway for Customers

The overall message from YES Bank’s revised structure is clear: fee waivers are now conditional. Maintaining an AMB of Rs 10,000 or ensuring a regular salary credit is the only way to avoid unnecessary charges. Customers who use multiple ATMs, depend on international withdrawals, or frequently visit branches may need to reassess their banking habits to keep costs in check.