I have a business current account with Open. Do I need to maintain an average monthly balance (AMB)?
Yes, you have to maintain an AMB of ₹ 10,000 in your account. But, the best part is that this AMB is waived off for the first 3 months.
Do I need to pay charges for non-maintenance of average monthly balance(AMB)?
Yes, we levy charges for non-maintenance of AMB. Here’s a detailed look at it:
If your AMB is less than 100% and greater than 50%, then you pay a monthly charge of ₹ 400.
If your AMB is less than or equal to 50%, then you pay a monthly charge of ₹ 500.
Do I get a checkbook?
You get a free 25 leaves checkbook upon account opening. You can request an additional free checkbook every month.
Do I need to pay any charges for local check clearing?
There is no charge levied for local check clearance.
Do I need to pay any charges for check clearing at an outstation bank branch?
Yes, we levy minimal charges for check clearance at an outstation branch.
For an amount up to ₹ 5,000, we charge ₹ 50
For an amount above ₹ 5000 to ₹ 10000, we charge ₹ 100
For an amount above ₹ 10,000 to ₹ 1,00,000, we charge ₹ 100
For an amount above ₹ 1,00,000, we charge and ₹ 150
Do I need to pay any charges for receiving payments online?
There are no charges on receiving payments online.
Do I need to pay any charges for making payouts via Open?
There are no charges when you are initiating an online NEFT or RTGS through Open.
However, in IMPS transactions there is a nominal charge of ₹ 5 if the amount is less than ₹ 50,000 and ₹ 15 if the amount is more than ₹ 50,000.
We don’t levy charges for making payouts online via RTG
In case of making payouts at a bank branch via RTGS, we charge a nominal fee.
For an amount between ₹ 2,00,000 to ₹ 5,00,000, we charge 20.
For an amount greater than ₹ 5,00,000 we charge ₹ 40.
Are there any charges when I do the transactions offline through bank branches?
Yes, there will be a nominal charge in the offline transactions, click here to know more.