HDFC Bank, leading private sector lender is likely to double the fees charged on cash payments made towards credit card bills to Rs 100 from the next month. At present it is charging a processing fee of Rs 50 for every credit card repayment.
As per the banks estimates, about one-third of total credit card users make cash payments. Last fiscal, credit card users spent an average Rs 55,000 almost 3 times the Rs 19,000 spent five years ago, so lot manual work involved in branch-level transactions and that is the reason customers are asked to pay for these services.
