How To Stop TRF Charges In Bank: Have you also received a message from the bank deducting 436 or 20 rupees as a TRF charge? If you’re confused about why these TRF charges are being deducted and how to stop them, this post is for you. Last time, we learned what is TRF and what TRF charges are. Today, we will understand why TRF charges are deducted and how to stop them.
Banks offer various services, some free up to a certain limit. However, when you exceed that limit, the bank starts charging for those services. For example:
- If you withdraw money from an ATM, there’s no charge initially. But charges will apply if you withdraw more than five times in a month.
- Similarly, banks provide SMS services, and if you use these services more than the set limit, the bank will charge you. This charge is shown as a TRF SMS charge.
Similarly, the bank provides another government-mandated service called PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) and PMSBY (Pradhan Mantri Suraksha Bima Yojana). Under these schemes, 436 rupees and 20 rupees are deducted, respectively, and you receive a message on your mobile phone when these deductions occur. Now, the question arises: How are 436 rupees and 20 rupees deducted without activating these services? Let’s understand this below.
Why does the bank deduct 436 rupees and 20 rupees as TRF charges?
Have you received a message about a deduction of 436 or 20 rupees as a charge or premium charge, and are you wondering why the bank is deducting these charges without informing you? Let me explain, friends. The 436 rupees are for PMJJBY (Pradhan Mantri Jeevan Jyoti Yojana), and the 20 rupees are for PMSBY (Pradhan Mantri Suraksha Bima Yojana).
You might think, “I never signed up for these schemes, so why are these charges being deducted?” I had the same question when money was deducted from my account. I went to the bank to ask how charges were being deducted without me signing up for any service. The bank staff explained that these are government schemes, and at the government’s request, the bank has activated these schemes in everyone’s accounts.
Service Details :
| Scheme | Full Name | Age Group | Annual Premium | Insurance Cover |
|---|---|---|---|---|
| PMJJBY | Pradhan Mantri Jeevan Jyoti Bima Yojana | 18-50 years | 436 rupees | 2 lakh rupees (Life Insurance) |
| PMSBY | Pradhan Mantri Suraksha Bima Yojana | 18-70 years | 20 rupees | 2 lakh rupees (Accident Insurance) |
How are Amounts Deducted Without Consent?
When I heard that these services were activated without my consent, I was angry. How could they activate any service without informing us? I then asked how to stop the deduction of 436 rupees and 20 rupees TRF charges due to these schemes. The bank staff told me that I would need to fill out a form and submit it to the bank, and the deductions of 436 rupees and 20 rupees TRF charges would stop.
Many banks activate these schemes in their customers’ accounts without their consent. This is done according to government directives to ensure that a maximum number of people can benefit from these schemes.
How To Stop TRF Charges in Bank
- Visit the Bank: You need to visit your bank branch.
- Fill Out the Form: Obtain a form from the bank to request the deactivation of these schemes.
- Submit the Form: Please submit the completed form to the bank. The bank will process your request and deactivate these schemes.
| Step | Action |
|---|---|
| Visit the Bank | Go to your bank’s branch. |
| Fill Out the Form | Obtain and fill out the deactivation form. |
| Submit the Form | Submit the completed form to the bank. |
| Bank’s Processing | The bank will process your request and deactivate the schemes. |