What are consolidated charges in Axis bank?

Axis Bank customers usually notice a reduction in their Axis Bank statement called Consolidated Charges. And in this article here, we will help you know all the details related to consolidated charges in Axis Bank account as most customers may not understand its meaning.

This article will find all the important details regarding Axis Bank Consolidated Account Charges. Let us first understand what these charges are.

What are Axis Bank Consolidated Charges? 

If you maintain an account with Axis Bank, you will have to live with charges applicable in the name of Axis Bank Charges. It counts on the type of account you have with Axis Bank.

Different charges may apply to different services and products you receive from Axis Bank. These charges will be deducted from your bank account at the end of the month or quarterly, along with the GST charges. These charges are called consolidated charges in the Axis Bank account.

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Details of reduced consolidated charges for Axis Bank

You have three options to know about the charges deducted from your account in the name of consolidated charges. 

These methods are the steps to determine the details of the reduced consolidated charges for the Axis Bank account. 

  • Net Banking 
  • Axis Bank Portal 
  • SMS Banking 

Steps to know Details of reduced charges for Axis Bank

  • Log in to your Axis Bank account. 
  • Then go to the “Account” option and select the bank account. 
  • Click on “View Detailed Advertising” 
  • Now click on “More Services” and select “View Account Charges.” 
  • Select the charge to be deducted from the charge list and click on “Levied Charge Details.”
  • Then the deductible consolidated charge details will appear on the screen.

Through this method, you can find out the details about the deduction made from your bank account, which had referred to as the consolidated charges for Axis Bank Account.

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Charges under the Consolidated for Axis Bank Account

By visiting the Axis Bank portal, you can check the updated list of charges levied as consolidation charges on Axis Bank customers. From July 1, 2021, the Bank will revise the fees applicable to various services and products.

By visiting the website, you can check the consolidated charges in the Axis Bank Salary Account or the Axis Bank Current Account charges, which are different for different bank accounts. 

Follow the steps given below

What are consolidated charges in Axis bank
  • Go to the portal.
  • Select your Axis Bank type.
  • Properly check the list of charges.

Learn Consolidated Charges for Axis Bank Account via SMS

Suppose you have registered with Axis Bank SMS Alert Service. In that case, you will receive a text message to your registered mobile number when any consolidated charges had deducted from your account.

Types of fees 

Consolidated Account Charges Bank includes different types of fees charged by the Bank. Depending on the category of account you have in Axis Bank‌. 

Consolidated charges may be different for different customers. Here is a list of charges that Axis Bank considers being consolidated:

  • Charges for not maintaining minimum balance in your account. 
  • ATM withdrawal charges over the limit. 
  • Charges for requesting a chequebook. 
  • Charges for debit card annual fees. 
  • Charges for Axis Bank Debit Card Block and Replacement. 
  • Charges for SMS Alerts Charges for cash transactions exceeding the limit. 
  • Demand Draft Issue Charges/Revalidation. 
  • Charges for withholding check payment at Axis Bank.
  • Fake Bank Statement Charges 
  • Fake Passbook Issue Charges. 
  • I-Connect/Net Secure Device Charges. 
  • Charges for transaction failures such as Auto Debit Failure Check Bounce/Standing Instruction Bounce
  • Charges for RD Standing Instructions. 
  • Locker charges/any other product or service selected by the customer, such as charges for the Demat account

Axis Bank Consolidated Charges Refund

Find that the consolidated charges deducted from your account are invalid or inappropriate. You can visit your home branch and contact the bank officials. 

These charges are refundable only in those cases where it is deducted by mistake or due to a delay in the process at the end of the Bank. Otherwise, there is no provision for refunding the amount deducted from the consolidated charges.

Deductions are not fully refundable even in case of cancellation of transaction charges, especially for NEFT, IMT or VMT, and IRCTC transactions.

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How to Stop Consolidated Charges in Bank? 

A charge in Axis Bank means the charges levied by the Bank for its services and products. They had not discontinued practically consolidated charges. 

But by using your bank account and services properly, you can avoid the additional burden you have to bear in the form of integration charges at Axis Bank.

You must check the bank account type with Axis Bank‌ and use the services properly. Through this, you can avoid the additional charges of Axis Bank.

This way, you can find the minimum balance, deposit, and withdrawal amount you need to maintain in your account, the number of free transactions, etc. It will help you reduce the charges levied by Bank Axis Bank. 

What is the BNA convenience fee at Axis Bank? 

Bank Note Acceptor (BNA) is a cash deposit machine where customers can deposit a bundle of notes at once. In this method, you do not have to visit your bank branch of Axis Bank to deposit your amount. 

You can go directly to BNA and easily deposit your amount. No charges are applicable if you avail BNA facility within the limit. Still, depositing your amount after banking hours means from 5:30 PM until 9:30 AM. On bank holidays, you have to bear certain charges at Axis Bank called BNA Convenience Fee. Currently, BNA charges Rs 50 per instant. 

Conclusion

Axis Bank has advised you always to be aware of the charges and services you are getting from the Bank to avoid unnecessary charges levied in the form of consolidation charges. 

For any assistance, you may visit your Home Branch or seek assistance from Customer Care Service at 1860-419-5555 / 1860-500-5555 (call charges apply), available 24/7 to assist Axis Bank customers.

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