Effective 1st April 2017, SBI has started charging Rs. 100 to its credit card customers for making the credit card bill payments via cheque if the bill amount is less than Rs. 2000. However, this will not applu for payments of higher amounts. SBI card claimed that this move is intended to promote digital payments which is in sync with the government policy. “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,” it said.
Vijay Jasuja, CEO of SBI card also mentioned that over 90% of its customers make payments through non-cheque mode. According to reports he said “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 also stated that this will not apply to holders of SBI Card Unnati which has been launched to encourage first-time credit card users.