Following concessions are allowed subject to recovery of out of pocket expenses
Concession To Staff/ Ex-Staff Members
Following concession to staff members / ex - staff members of the Punjab & Sind Bank are permitted
Entry Charges: - No entry charges are to be levied in current accounts.
Remittances: - All Demand Drafts/ Electronic Fund Transfers shall be free of charge. However, actual out of pocket expenses shall be recovered.
Collection Charges: - All Cheques / drafts etc. shall be collected free of charge.
All negotiation of cheques / drafts up to Rs.5000/- shall be negotiated at par without levying collection charges regardless of the Bank on which the cheque is drawn for credit.
Besides above, no service charges be levied to the existing Staff and Ex-Staff members of Punjab and Sind Bank except locker rent and out of pocket expenses on actual usage basis where ever chargeable.
Concession To Pensioners
No Service Charge is to be levied to pensioners on collection / discount of pension bills / cheques of Central / State Government and Armed Forces.
Concession To Freedom Fighters
No service charges are to be levied on collection / discounting of pension bills / pension cheques of freedom fighters.
Concession To Defense Personnel
In the account of defense personnel in active service as well as ex - servicemen, collection of outstation cheques and issuance of DD shall be free of charge, subject to collection of out-of-pocket expenses.
Concession To Religious, Welfare Service, Charitable Institutions, Differently abled Individual and Institutions Set Up for their benefit
The facility of collection of upcountry instruments at par, payment of DD to their own benefit at par are permitted provided these institutions are exempted from payment of Income Tax Act and copy of Certificate is obtained by branch.
Account Of Government Department / Ministries
Cheques issued by Government Department representing subsidies under IRDP and other special program shall be collected at par.
Co-Operative Banks, Land Development Banks, Regional Rural Banks, Service Co-Operative, District Rural Development Agency etc.
Concession of 50 % of service charges shall be extended to Co-operative Banks for issuance of DD/RTGS/NEFT, which maintain their account with the Bank. The Urban Co-operative Banks shall give an undertaking at their Head Office level that they shall levy the charges of Public Sector Banks to Customers.
Bank Under Agency Arrangements
Service Charges are as per agency arrangement to be levied provided benefit is not passed on to customers.
Concession To Educational Institutions
Salary bills of teachers employed in Government run schools may be done at par and discounting free of charge also for sum up to Rs.5000/- per individual in case the employee’s salary accounts are maintained in our Bank.
Concession To Regional Rural Banks
No Collection charges are to be levied by Bank for collection of cheques / draft tendered by RRB irrespective of whether RRB is sponsored by the Bank or not.
Payment To Suppliers While Disbursing Loan Under Government Sponsored Schemes
No charges are to be levied for remittance under above scheme.
Concession in Remittance / Collection
No collection charges to be levied for collection of local Cheques / Drafts.
No remittance / collection charges for transfer of funds to Prime Minister / Chief Minister Relief Fund are to be levied.
Dividend Warrant and Gift Cheques up to Rs.100/- to be collected at par subject to collection of out-of-pocket expenses.
No Service Charge is to be levied on Rupee Draft issued by Correspondent Bank and Exchange Companies favouring NRI Customers provided Rupee Draft favouring NRI customer is issued by branches of same Bank abroad or Correspondents / Foreign Officers of any Foreign / Indian Banks or ECS maintaining accounts with this bank or any other bank. Draft should be payable through rupee accounts maintained at branches in India nominated by the Banks.
Transfer Of Funds - Deposit Accounts
No service charges to be levied on cheques issued as per court order for placing the amount in term deposit.
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“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
General Manager-IT,
Punjab & Sind Bank
Internet Banking
Dear customers,
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
