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HNB revises tariff inconveniencing customers

Customers of Hatton National Bank have been severely inconvenienced with the recent revision in their tariff (commission and service chargers) for its domestic operations and international remittances banking sector analysts alleged.

These unreasonable chargers were aimed at increasing the income and profits of the bank without resorting to fair banking practices, they claimed.

Counter withdrawal chargers had been fixed at Rs.15 and bill payment commission stipulated at Rs.35 per utility bill while the customer will have to pay R.s 200 per month as service fee for personnel current account for balance of below Rs.10,000 and it will be increased to Rs.300 if the balance is below Rs.25,000.

Savings account service charge is fixed at Rs.35 per month for average balance below Rs.1000 and a sum of Rs.35 will be levied per month for average balance below Rs.2000 and Rs. 5 for average balance Rs.2000-3000.

Service charge for Temporary over Draft (TOD) is Rs.6000 per month in addition to relevant interest, loyal customers of the bank said adding that if 5000 customers are fallen to this trap then the bank’s minimum profits will go up to rs.3 million.

The HNB will be charging the customers if their overdraft payment is less than Rs1.00 from the stipulated monthly installment, they claimed.

The Bank has not disclosed their chargers for credit card interest payments and service chargers in their web site , they said.

These chargers and levies of the HNB area violation of Central Bank regulations and the monetary authority should conduct an onsite inspection and take remedial measures to safe guard the innocent customers, they urged.

(LI)

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