Go digital to save cost on banking transactions: All you need to know

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  • Since demonetisation, banks have started charging for most transactions and are revising them upwards, consistently
  • It’s hard to overlook charges now. But using technology can help you save cost, instead of going to a branch for transactions
  • Choose a bank closer to your home as charges on transactions done at the non-home branches are higher
  • For most transactions, government banks are cheaper than private ones
  • Among all charges, the fee levied for non-maintenance of minimum balance remains the highest
  • If you want to shift banks, it isn’t easy to do so. In fact, shifting a loan account is easier than closing a bank account