BOB Financial OneCard has announced that starting on March 10, 2024, customers will be charged a 1% fee for any monthly transfers totaling over $10,000 made to bank accounts or third-party wallets.
Here are the key details cardholders need to know:
- The 1% fee will be based on your total transfer amount over $10,000 in a calendar month.
- Transfers under $10,000 total in a month will not incur a fee.
- The fee applies to bank account transfers and transfers to any third-party wallets.
- For example, if you transfer $15,000 and $20,000 in one month, you would be charged 1% of the total $35,000, equaling $350.
- But if you transfer $4,000 and $5,000 in a month, you’d pay no fee since it’s under the $10,000 threshold.
BOB Financial states this new fee structure will help cover costs while keeping small transfers free. Check the updated Terms & Conditions and contact BOB Financial if you have any questions on how you could be impacted. Monitoring your monthly transfer activity will be important to avoid surprise fees starting March 10th.
Below are the emails received from the Bank of Baroda.
