Do Debit Cards Have Fees?

Although banks do not charge for the initial issuance of debit cards, they do so for further services such as re-issuing and yearly maintenance fees. For the replacement of your debit card, you must pay these fees. The yearly maintenance, physical PIN regeneration, and replacement of lost or stolen cards are all subject to GST.

The fees that the banks charge for your debit card are as follows:

Re-issuing or replacing debit cards:

The cost to replace a lost debit card is Rs 200 at SBI, ICICI, HDFC, PNB, and Axis Bank. Compared to the Bank of India, which levies a cost of Rs 120, Yes Bank imposes a fee of Rs 149.

Annual maintenance fees

Depending on the type of card issued, different yearly maintenance fees apply. Most banks, including SBI, HDFC, PNB, and Axis Bank, charge between Rs 100 and Rs 150 for classic cards, whereas Bank of India charges Rs 60 for semi-urban and rural places and Rs. 120 for urban metro and areas. ICICI Bank does not levy annual maintenance costs for its debit cards. According to the bank's website, the Coral debit card has a Rs 499 registration cost and a Rs 499 yearly fee. The yearly renewal price for HDFC Bank's Platinum debit card is Rs 750. The Yes Bank First World debit card has an annual charge of Rs 2499. For certain consumers, it is exempt, though. Yes, the bank charges a yearly fee of Rs 599 for the Platinum card.

Debit card PIN generating.

Most banks, including SBI, HDFC, PNB, yes bank, and Axis bank, impose a fee of Rs. 50 for their debit cards. On the other hand, according to the bank's website, there are no fees for clients who generate an immediate PIN and set up the PIN via online banking or mobile banking. Debit card PIN regeneration costs are capped at Rs 25 by ICICI Bank. These fees "do not apply if requested through Instapin at Branch/Customer Care."