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1. UNDERSTANDING BANK
FEES, ONLINE AND MOBILE
BANKING
Module 1

2. INTRODUCTION TO BANKING
•Banking refers to the system of financial institutions, such as banks and credit
unions, that provide various financial services to individuals, businesses, and
governments.
•Banking services mainly include accepting deposits, lending money, facilitating
transactions, and offering various financial products like savings accounts, loans, and
credit cards.
•Banking plays a crucial role in the economy by facilitating the flow of money and
enabling economic activities.

4. FUNCTIONS OF BANKS

7. INTRODUCTION TO DIFFERENT
TYPES OF BANKING FEES:
•Account Maintenance Charges: Some banks may charge a fee for maintaining savings or
current accounts, especially if certain minimum balance criteria are not met.
•ATM Charges: Charges for using ATMs beyond a certain limit or using ATMs of other
banks may apply. Some banks offer a certain number of free transactions and charge for
additional ones.
•Transaction Charges: Charges may be levied for specific transactions such as fund transfers,
demand drafts, and other financial transactions.
•Cheque Book Charges: Banks may charge for providing additional cheque books or for
issuing new cheque books.
•SMS Alert Charges: Charges for receiving SMS alerts for transactions or account balance
updates.

8. •Locker Charges: If you rent a locker in a bank, there will be annual charges associated with
it.
•Credit Card Annual Fee: Credit cardholders may be required to pay an annual fee for using
the credit card, and additional charges may apply for late payments or exceeding the credit
limit.
•Loan Processing Fees: Banks may charge a processing fee when you apply for a loan.
•Prepayment Charges: In case of loans, there might be charges if you decide to repay the
loan before the maturity date.
•Debit Card Annual Fee: Some banks charge an annual fee for the maintenance of debit
cards.
•IMPS/NEFT/RTGS Charges: Charges for electronic fund transfers through various
platforms like IMPS (Immediate Payment Service), NEFT (National Electronic Funds
Transfer), and RTGS (Real-Time Gross Settlement).
•Foreign Currency Transactions: Charges may apply for transactions in foreign currencies,
both for debit and credit card transactions.
•Dormant Account Charges: If an account remains inactive for a specified period, banks
may levy charges for account dormancy.

9. GUIDELINES OF LEVY OF BANK
FEES
•Transparency and Disclosure:
• Banks are required to be transparent about the fees and charges
associated with various banking services.
• They must disclose the schedule of charges to customers, and any
changes to the fees should be communicated in advance.
•Reasonable and Non-Discriminatory Fees:
• Fees charged by banks are expected to be reasonable and not
discriminatory. They should be commensurate with the cost of providing
the services.
•Prior Approval for New Fees:
• Banks typically need prior approval from the RBI before introducing
new fees or increasing existing ones.

10. •Guidelines for Specific Services:
• The RBI provides specific guidelines for fees related to services such as ATM transactions,
electronic fund transfers, account maintenance, etc.
•Interest Rates and Charges:
• The RBI regulates the interest rates charged by banks on loans and advances. There are
guidelines on the calculation of interest and the disclosure of interest rates to customers.
•Customer Grievance Redressal:
• Banks are required to have a robust grievance redressal mechanism in place to address customer
complaints related to fees and charges.
•Fair Practices Code:
• Banks are expected to adhere to the Fair Practices Code, which outlines ethical practices and
fair dealing with customers, including in the levying of fees.
•Periodic Review of Fees:
• Banks are encouraged to periodically review their fee structure to ensure it remains fair and in
line with regulatory guidelines.

11. INTRODUCTION TO ONLINE AND
MOBILE BANKING
•Online and mobile banking have revolutionized the way individuals and
businesses manage their finances, providing convenient and efficient
alternatives to traditional banking methods.
•These digital platforms leverage the power of the internet and mobile
technology to offer a wide range of financial services, making it possible for
users to access their accounts, conduct transactions, and monitor their
finances from virtually anywhere.

12. ONLINE BANKING
Online banking, also known as internet banking, refers to the use of a secure website or mobile
application provided by a bank or financial institution to perform various banking activities over the
internet. Some key features of online banking include:
1.Account Access: Users can log in to their accounts securely using a username and password to view
account balances, transaction history, and other account details.
2.Fund Transfers: Online banking enables users to transfer funds between their own accounts or to
other accounts within the same bank. Additionally, they can make electronic payments to third parties.
3.Bill Payment: Users can pay bills online, setting up recurring payments or making one-time payments
to utilities, credit cards, and other payees.
4.Mobile Check Deposit: Some online banking platforms allow users to deposit checks by capturing
images of the checks using their mobile devices.
5.Alerts and Notifications: Users can set up alerts to receive notifications about account activity, low
balances, large transactions, and more.

13. MOBILE BANKING
Mobile banking takes online banking a step further by providing dedicated applications for
smartphones and tablets. Key features of mobile banking include:
1.Mobile Apps: Banks develop mobile applications for various platforms (iOS, Android) to
provide a user-friendly interface for banking activities.
2.Biometric Authentication: Many mobile banking apps support biometric authentication
methods such as fingerprint scanning or facial recognition for enhanced security.
3.Location-Based Services: Some mobile banking apps offer location-based services,
providing information about nearby ATMs, branches, and promotions.
4.Mobile Wallets: Integration of mobile wallets allows users to make payments, store digital
versions of credit/debit cards, and conduct contactless transactions using their mobile devices.
5.Personal Finance Management: Mobile banking apps often include tools for budgeting,
expense tracking, and financial goal setting to help users manage their money effectively.

14. BENEFITS OF ONLINE AND MOBILE
BANKING:
1.Convenience: Users can perform banking transactions anytime, anywhere, reducing the need
to visit physical branches.
2.Time Savings: Online and mobile banking streamline processes, saving time for both
customers and banks.
3.Accessibility: Individuals with mobility issues or those in remote locations can access
banking services without physical barriers.
4.Enhanced Security: Advanced security measures such as encryption, two-factor
authentication, and biometrics contribute to a secure banking environment.
5.Real-Time Information: Users can receive real-time updates on their account activities,
balances, and transactions.
6.Cost Savings: Digital transactions often incur fewer fees than traditional banking methods.

15. DETECTION AND PREVENTION OF
ERRORS AND FRAUD
Detecting and preventing errors and fraud in banking is crucial for maintaining the
integrity of financial systems and ensuring the security of customer assets. Banks
employ a variety of strategies and technologies to address these challenges. Here are
some key methods:
•Transaction Monitoring:
• Banks use advanced analytics and machine learning algorithms to monitor transactions in real-
time. Unusual or suspicious patterns, such as large withdrawals, unusual locations, or multiple
transactions in a short time, can trigger alerts.
•Biometric Authentication:
• Implementing biometric authentication methods, such as fingerprint or facial recognition, adds
an extra layer of security to ensure that only authorized individuals can access accounts or
perform transactions.

16. •Multi-Factor Authentication (MFA):
• Enforcing multi-factor authentication, which requires users to provide multiple forms of
identification (e.g., password, SMS code, or biometric data), adds an extra layer of protection
against unauthorized access.
•Data Encryption:
• Encrypting sensitive data, both in transit and at rest, helps protect customer information from
being intercepted or accessed by unauthorized individuals.
•Employee Training:
• Regularly training bank employees on security protocols and awareness of common fraud tactics
helps reduce the risk of human error and ensures that staff can identify and respond
appropriately to potential threats.
•Customer Education:
• Educating customers about secure banking practices, such as not sharing passwords or personal
information, helps prevent social engineering attacks and enhances overall cybersecurity.
•Advanced Analytics and Artificial Intelligence (AI):
• Utilizing advanced analytics and AI enables banks to analyze large datasets to identify unusual
patterns or anomalies that may indicate fraudulent activities.

17. •Blockchain Technology:
• Blockchain technology can enhance the security and transparency of financial transactions by
providing an immutable and decentralized ledger, making it more difficult for fraudsters to manipulate
records.
•Regular Audits and Reviews:
• Conducting regular internal and external audits helps identify weaknesses in security protocols and
ensures that the bank's systems and procedures comply with industry standards and regulations.
•Collaboration with Law Enforcement:
• Establishing strong partnerships with law enforcement agencies allows banks to share information on
emerging threats and collaborate on investigations to apprehend fraudsters.
•Real-time Alerts:
• Implementing real-time alert systems allows banks to promptly notify customers of suspicious
activities, enabling them to take immediate action to secure their accounts.
•Regulatory Compliance:
• Adhering to regulatory standards and compliance requirements helps ensure that banks have robust
security measures in place and are regularly audited to maintain a secure environment.

18. THANK YOU!