Have you ever got an SMS about “BSBD WDL Txn Charges” and find what it means? You’re alone. One of my friends also recently got this message and wanted to know why money was deducted from their bank account.
Hey! I’m Nanne Parmar, a personal finance expert (especially in UPI and fintech) with over 6 years of knowledge helping people guide about banking and finance.
If you’re confused about these bank charges and how they work, don’t worry—let’s break it down and find out what’s going on.
Before I provide you the details of WDL Txn fees, it’s important to understand the type of account they apply to BSBD accounts. These charges are exclusively applicable to Basic Savings Bank Deposit Accounts. So, the Question in Mind?
Understanding Basic Savings Bank Deposit account
Basic Savings Bank Deposit account is a special type of Bank Account for improving the banking system in India. Introduced under the guidance of the Reserve Bank of India in 2005 for access bank facility for everyone in rural and urban areas at minimal charges.
In 2019, RBI announced banks provide great facilities for everyone – zero balance accounts, free of charges, ATM-Cum debit cards, Limited Transactions per year, and Up to four free ATM withdrawals per month. For more information, you can read: RBI Rules 2019
This BSBD Account Facility is followed by all banks of India, including SBI, Bank of Baroda, HDFC Bank, Punjab Bank and more.
Upgrade Options for You
However, if you need more frequent transactions and more ATM Withdrawals, you can go with –
- Regular Savings Account: you will get a higher limit of transactions and withdrawals however, it Requires a minimum balance of up to 2,500 to Rs. 25,000 in the Account. I recommend you go with SBI or HDFC Bank for higher facilities and transaction volumes at good Annual Maintenance charges.
- Salary Account: it offers Automatic salary credit, and it is a zero-balance savings account.
- Current Account: Fit for businesses and people for higher transaction volumes.
Back to the BSBD Account, it is the perfect choice for those who do not want higher transactions but better facilities at almost no charges. Most account holders have Misconceptions about BSBD Accounts, such as All Transactions Are free and Charges Are Always Justified.
It is important to understand that only a limited number of transactions are free Exceeding this limit can lead to charges, and if you get any unknown or incorrect charges. First, Review Your Bank Statement, then Contact Your Bank to solve the issue. Still not solved, File a Complaint at RBI’s official website.
Banks cut some services they offer free to enable them to recover their operating expenses. Exceeding the free transactions and withdrawal limit triggers the BSBD WDL Txn fee.
Explained: BSBD Wdl Txn Chg?
BSBD WDL Txn Chg means Basic Savings Bank Deposit Withdrawal Transaction Charges. Simply put, these are applied by banks when you exceed the number of free withdrawal transactions allowed in a month.
If you exceed this withdrawal limit as set by the bank, banks apply a fee for every extra withdrawal you make. You will get a message about the withdrawal transaction charge on your mobile number.
What is the withdrawal limit set by banks?
The specific withdrawal limits and amounts vary across all banks in India. You can check your bank account terms and conditions on your welcome kit that you get when you open the bank account.
For Example, most Basic Savings accounts allow four free withdrawals per month, including ATM and branch transactions. If you have an SBI BSBD account, you can read ATM Services on the SBI official website to understand withdrawal-free limits.
What Are the Charges Per Excess Limits?
Banks charge anywhere from ₹10 to ₹25 per transaction, depending on the bank’s policy. Let me give you an example of the Bank of Baroda Withdrawal charges amount (Real-Life Scenario) –
My Client Rajesh had a BSBD Account at Bob Bank. The Bank sets a limit on free transactions and withdrawals for its BSBD accounts. BOB Customers like Rajesh are allowed four free cash withdrawals From ATMs.
After exceeding four withdrawals, Rajesh got an SMS from BOB about the BSBD Withdrawal charge of Rs. 23.60 (₹20 + GST) for withdrawing money 5th times from The ATM.
Why Do Banks Set BSBD WDL Txn Fee?
Let me make it simple for you – why banks levied these charges for zero balance savings accounts.
The main reason is Cost Recovery. Every transaction has an operational cost for the bank every time you use the ATM or do the transactions. Extra charges help cover these costs.
Also, Bank Encouraging Digital Payments. If you use UPI, Cashless payments, and online transactions, it is cheaper to process for banks.
Last But not least, RBI Guidelines Banks are allowed to impose reasonable charges for excessive transactions For bank account sustainability.
FAQs
Will I be charged if I transfer money to another BSBD account?
Yes, transferring money between BSBD accounts usually counts as transactions and might include charges if exceeded.
How can I contact the Bank of Baroda regarding BSBD Withdrawal Txn charges?
To Inquire about Withdrawal charges or other related issues, you can contact Bank of Baroda’s customer care through their 1800 5700. Also, you can visit a branch or Use the mobile app to chat.
Does a BSBD account have any withdrawal charges at the Bank of Baroda?
No, the BSBD (Basic Savings Bank Deposit) account is a zero-balance account with no charges on ATM withdrawals (up to 4 free transactions per month at non-BoB ATMs). After that, a small fee may apply, including GST.
Do BSBD account holders get free passbook services at Bank of Baroda?
Yes! No charges for passbook updates in BSBD accounts, as per RBI guidelines for basic savings accounts.
Are UPI/IMPS transfers free in a Bank of Baroda BSBD account?
Yes, digital transactions (UPI, IMPS, NEFT, RTGS) are free in BSBD accounts, but ATM cash withdrawals beyond the free limit may incur charges.
What’s the fee for cash withdrawals at Bank of Baroda ATMs vs other bank ATMs?
1. Bank of Baroda ATMs: Free for savings account holders.
2. Other Bank ATMs: First 4 transactions/month free (including financial & non-financial), then ₹20 + GST per withdrawal.
Final Words!
Charges like BSBD withdrawal transaction charges can seem small, but they add up over time, silently eating into your deposit money. Let me give you quick tips to bypass it –
- You can use UPI, net banking, or mobile wallets for payments. Go digital and use less cash.
- Every bank has its own rules for BSBD Savings accounts. Check your bank’s official website or visit your home branch to understand your account’s terms & charges and hidden costs.
As per many BOB account holders’ experience, when you go to an ATM to withdraw, instead of making multiple small withdrawals, withdraw a larger amount once or twice a month.
However, BSBD accounts are a great tool for accessing banking benefits without the stress of keeping a minimum balance in your bank account.
If you have Any Questions, feel free to ask in the comment section below. I’m here to help you make smarter financial decisions.
If you want to know about BOB charges like DCardFee, you can read Breaking Down BOB Bank DCARDFEE Charges.
Other bank charges list –
Note: This blog content on Easemoney is for informational purposes only and should not be considered as financial advice. Always consult a certified financial advisor before making any decisions based on the information provided.
This article was written by Nanne Parmar, a fintech expert with a DCA degree and a commerce background, with 6+ years of experience in finance, fintech, and banking. Nanne has worked extensively in AI tools for banking, financial calculators, and fintech products. As the founder of EaseMoney, he focuses on making complex financial concepts simple for Indian users.