Come July 1 and bank customers will discover they will have to pay even more for a host of banking services. After the Prime Minister’s demonetisation move in November last, people were made to understand that going cashless meant conducting all their fincial transactions through banks. The Central government had then issued a directive ‘in public interest’ to all public sector banks not to charge fees for digital transactions upto a certain upper limit. The Reserve Bank had followed suit by deciding that till March 3 this year, banks will not levy any charges on customers for transactions up to Rs 1,000 on certain payment services and interfaces. However, amidst all this sweet talk to lull bank customers, the powers-be failed to mention that banks were bound to charge for their services as they happen to be running a business. And thus it was that banks including the State Bank group made it clear after March that customers will have to pay charges for ATM cash withdrawals beyond an upper limit per month, net banking through NEFT or RTGS, non-maintence of minimum balance and other services. Many bank customers have found to their chagrin that they will have to shell out more for service charges, irrespective of whether they use or don’t use their bank account! From July 1 with the rollout of Goods and Services Tax (GST) across the country, bank customers will feel the pinch more. This is because the tax rate on bank services will increase from current 15 percent to 18 percent under the GST regime. With the GST council having filised the five different tax slabs at nil, 5 percent, 12 percent, 18 percent and 28 percent — bank customers will do well to keep in mind that they will be using a fincial service to be taxed at the second highest rate.