Bank Of Baroda

The JAC Charges In Bank Of Baroda


The Bank of Baroda, one of India’s leading public sector banks, has implemented Joint Account Charges (JAC) to regulate transactions in joint accounts.

These charges aim to cover administrative costs incurred due to additional account management and record-keeping.

To ensure transparency and keep customers informed, Bank of Baroda clearly outlines the JAC charges applicable to different account types and transactions.

What are JAC Charges in Bank of Baroda?

Joint Account Charges (JAC) are charges levied on transactions made from a joint account held with Bank of Baroda.

These charges are intended to cover the additional administrative costs associated with managing and maintaining joint accounts, which typically involve more complex record-keeping and communication.


Types of Transactions that Attract JAC Charges in Bank of Baroda?

JAC charges apply to a variety of transactions in joint accounts, including:

  • Cash withdrawals: A fixed JAC charge is levied for each cash withdrawal from a joint account, irrespective of the withdrawal amount.
  • Cheque withdrawals: Similar to cash withdrawals, a JAC charge is applicable for each cheque drawn from a joint account.
  • Online transactions: Transactions made through Bank of Baroda’s online banking platform, such as fund transfers and bill payments, may also incur JAC charges.

Are JAC Charges applicable to all Joint Accounts?

JAC charges are applicable to most joint accounts held with Bank of Baroda.

However, there may be exceptions for certain types of joint accounts, such as accounts held by minors or those linked to specific schemes or programs.

It is advisable to check with the bank’s customer service representatives or refer to the official website for details on JAC exemptions.

How to Avoid JAC Charges in Bank of Baroda

To minimize or avoid JAC charges, joint account holders can consider the following strategies:

  • Limit cash withdrawals: Reduce the frequency of cash withdrawals from the joint account and opt for alternative payment methods, such as debit cards or online transactions.
  • Consolidate cheque usage: Instead of issuing multiple cheques, consider using fewer cheques for larger transactions, reducing the number of JAC charges.
  • Utilize online banking: Maximize the use of Bank of Baroda’s online banking platform for transactions, as online charges are often lower than traditional methods.

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