State-owned, Canara Bank will levy about Rs 112 annual fee on its ATM debit cards from July 01, 2013. The bank has decided to charge a nominal fee of Rs 100 per card plus applicable service tax on completion of one year from the date of issue/renewal of the card and thereafter to be charged yearly. The bank which has been currently issuing the cards free of cost has taken this step offering the services at competitive rates in tune with market trends.
For debit cards issue or renewed up to June 30, 2012, the annual fee would be charged on July 01, 2013 while for cards issued after July 01, 2012, the fee will be recovered after 12 months. The annual charges will be debited from primary account of the card holder by the system on due date.
The annual fee will however not apply to debit cards issued to customers with Canara Small Savings Account, Basic Savings Bank Account and Financial Savings Bank Account.
