Merchant Advantage Plus Current Account

Best suited for large retail outlets. Cash deposit limits are linked to transaction volumes on card swipe machines, making this current account cost effective.

Apply now for an HDFC Bank Merchant Advantage Plus Current Account.

Features

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Eligibility

You are eligible to operate a Merchant Advantage Plus Current account if you are a:

  • Resident Individual
  • Hindu Undivided Family
  • Sole Proprietorship
  • Partnership

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Contact Number
Ahmedabad
6160 6161

What are the features and benefits of a Merchant Advantage Plus Current account?

Features

Features

* Conditions Apply

How am I eligible for a Merchant Advantage Plus Current account?

Get details on eligibility criteria & documents required for HDFC Bank Merchant Advantage Plus Current Account

You are eligible to operate a Merchant Advantage Plus Current account if you are a:

  • Resident Individual
  • Hindu Undivided Family
  • Sole Proprietorship
  • Partnership
  • Limited company
  • Trust
  • Association/Club/ Society
  • Limited Liability Partnership

Already have a Merchant Advantage Plus Current Account?

  • You can make free cheque payments (local or anywhere) to any of your suppliers.
  • You can issue free DDs/POs for any amount above Rs. 1 Lakh.

You can also benefit from

  • Free Business Debit Card with a host of benefits and privileges.
  • Higher transaction limits, more transaction benefits and greater mobilisation of your business funds by upgrading your Merchant Advantage Plus Current account.
  • NetBanking / Mobile Banking by tracking your funds online at anytime and anywhere.
  • Our Forex services including FOREX Travellers’ Cheques, FOREX Cash and a FOREX Plus Card when you travel. Click here for details.

What are the fees and charges of Merchant Advantage Plus Current Account?

Enclosed below are HDFC Bank Merchant Advantage Plus Current Account fees and charges

Fees & Charges for Merchant Advantage Plus Current Account effective 1st November, 2013

Description of ChargesMerchant Advantage Plus Current Account
Minimum Balance (Average Monthly Balance) Rs. 100,000/-
Non-Maintenance Charges per month Rs 1,000 per month
Cheque Book Charges (Issued by Bank)
Payable-at-par
200 cheque leaves Free per month. Charges Rs 2/- per leaf beyond 200 leaves
Other Current Account facilities
Issue of Duplicate / Adhoc Statement Branch - Rs 100/-
PhoneBanking ( Non IVR) - Rs.75/-
NetBanking , Mobile Banking, PhoneBanking - IVR & ATM - Rs 50/-
Mode of calculation of minimum average monthly balance Average of daily closing balances of each day spread over a period of one month.
Remittance facility through own Bank
Demand Drafts (DD) payable HDFC Bank Locations (Issued from any branch) / Duplicate DD Free upto 50 DDs per month. Above 50 DDs, charges @ Rs 25/- per Demand draft.
Pay Orders (PO) - on HDFC Bank Locations (Issued from Any Branch) / Duplicate PO Free upto 50 (PO) per month. Above 50 (PO) charges @ Rs 25/- per Pay Order.
Issuance of DD/ PO through PhoneBanking All standard charges for DD / PO are applicable as above.
Only DD / PO amount upto Rs 500,000/- are accepted at Phonebanking.
DD/PO-Cancellation/Revalidation Rs.50/- per instrument
NEFT/EFT Transactions :
Payments Free
Collections Free
RTGS Transactions :
Payments Free
Collections Free
Local Transactions (At home branch location)
Local cheques collections & payments Free
Account to Account Fund Transfer within HDFC Bank Free
Anywhere Transactions (except Dahej)
Account to Account Fund Transfer within HDFC Bank Free
Payments at HDFC Bank Locations Free
Collections at HDFC Bank Locations Free
Bulk Transaction Charges All above transaction are subject to a maximum of 150 transaction per month beyond which charges @ Rs.10/- per transaction would be levied. Includes all Local/Anywhere clearing & Funds transfer transactions
Remittance facility through other Bank
Issue of Demand Drafts (DD) / Duplicate DD (Correspondent tieup) Rs 1.50 per Rs.1000/- Minimum Rs.50/- per DD
DD-Cancellation / Revalidation Rs.50/- per instrument
Cheque Collection
Outstation Cheque Collection at Bank Locations
Instrument Value Charges
Any Amount Rs 20/- per instrument
Outstation Cheque Collection at Correspondent Bank Location
Instrument Value Charges
Upto Rs 35,000/- Rs 50/- per instrument
Above Rs 35,000/- and upto Rs 1,00,000/- Rs 100/- per instrument
Above Rs 1,00,000/- Rs 150/- per instrument
Outstation Cheque Collection at Clean Location
Instrument Value Charges
Upto Rs 25,000/- Rs 50/- per instrument
Above Rs 25,000/- and upto Rs 1,00,000/- Rs 100/- per instrument
Above Rs 1,00,000/- Rs 150/- per instrument
Cheque Collection through Speed Clearing
Instrument Value Charges
Upto Rs 1,00,000/- Free
Above Rs 1,00,000/- Rs 15/- per instrument
Bouncing of cheques- Local
Cheques Drawn on us
Due to Insufficient Funds Upto 2 instruments per month- Rs.300 per instrument. On 3rd / 4th & 5th instrument - Rs.500 per instrument 6th Instrument onwards- Rs.750 per instrument
Due to Technical Reasons No Charge
Cheques Deposited Returned Unpaid Local - Rs.50/- per Instance
Outstation - Rs.50/- per Instance
Doorstep Banking **
Cash Pickup Charges (within municipal city limits)
Cash Pickup upto Rs 1 Lac Rs 150/- per pickup
Cash Pickup beyond Rs 1 Lac and upto Rs 2 Lac Rs 200/- per pickup
Cash Pickup beyond Rs 2 Lac and upto Rs 3 Lac Rs 300/- per pickup
Cash beyond the above limits can be offered, for further details on charges please contact your Branch Manager
Cash Transactions
Cash Deposit
Cash Deposit-Home Branch Location Free upto 4 times current month POS value (Amount swiped at HDFC Bank EDC machine) per month or 50 transactions whichever is lower,deposit ion excess of 4 times POS value or 50 transactions will be charged @ Rs 3/- per Rs 1,000, minimum Rs 50/- per transaction.
Limit on Inter-Branch deposits (Within Home Branch City Cash deposit at non home Branches within home branch city subject to maximum of Rs.1,00,000/- per account per day
Cash Deposit -Non Home location Maximum Rs.1,00,000/- per day. Charges @ Rs. 3.50/- per Rs 1,000, min Rs. 50/- per transaction
Cash Withdrawal
Cash Withdrawal-Home Branch Free at Home Branch
Cash Withdrawal-Non Home Branch-Intracity & Intracity Free cash withdrawal upto Rs.50,000/- per day beyond which charges @ Rs.2/1000, min Rs.50/- per transaction. Third party cash withdrawal allowed only up to maximum Rs. 50,000 per transaction.
Miscellaneous
Balance enquiry Rs.25/-
TDS Certificate Free
Balance Confirmation Certificate Rs.50/-
Interest Certificate Rs. 50/-
Cheque Status per instance Rs. 25/-
Photo Verification Rs 100/- per instance
Address Confirmation Rs 100/- per instance
Signature Verification Rs 100/- per instance
ECS (Debit) return charges - Rs 350/- would be levied on first instance of ECS return in a quarter.
- Rs 750/- would be levied, second instance onwards in the same quarter
Setting up of Standing Instructions Nil
Any Deliverable returned by courier due to negative reasons (no such consignee/ consignee shifted and no such address) Rs 50/- per instance
TIN/IPIN Regeneration (requests received at the branch for physical dispatch) Rs 50/- per instance
SI rejects Rs 200/- per instance
Old Records / Copy of Paid Cheque
Upto 1 Year Rs.50 per record
Above 1 Year Rs.100 per record
Common Charges for Debit / ATM Cards
Replacement of damaged card Free
Replacement of Lost card Rs.100
Copy Retrieval Request Rs.100
Re-Issuance of PIN Rs.50 (plus taxes)
Transaction Charge--HDFC Bank ATM's Balance Inquiry - Free
Cash Withdrawal - Free
Transaction Charge--Non HDFC Bank ATM's ***
Domestic Balance Inquiry - Free
Cash Withdrawal - 5 transactions free per month.Beyond which charges @ Rs 20/- per transaction.
International*

*The Bank will charge cross-currency mark-up of 3.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the VISA/Master Card wholesale exchange rate prevailing at the time of transaction

Balance Inquiry - Rs.15 per transaction
Cash Withdrawal - Rs.110 per transaction
Transaction Decline Charge (at Non HDFC Bank ATM's) Rs. 25 per transaction
Stop Payment Charges
Particular cheque Rs.50/- (FREE through Phone Banking)
Range of cheques Rs.100/- (FREE through Phone Banking)
Account Closure:
Up to 14 days No Charge
15 days to 6 months Rs 1,000/-
6 months upto 12 months Rs 500/-
Beyond 12 months No Charge
Activation of Dormant / inoperative account No Charge
InstaAlert / Mobile Banking
Insta Alert Nil
Transactions through PhoneBanking:
Interactive Voice Response (IVR) Free
Non-IVR-Agent assisted> Free
Debit Cards (only for Individuals & Sole Proprietorship)
Debit CardEasy ShopATM Card
Business#RegularGoldWoman's
Annual Fee per Card Free Free Rs.500 p.a Rs.100 p.a. Free
Daily ATM Limit Rs.50,000 Rs.25,000 Rs.50,000 Rs.25,000 Rs. 10,000
Daily Merchant Establishment Point of Sale Limit Rs.75,000 Rs.40,000 Rs.75,000 Rs.40,000 NA
# Also available for partnership firms & limited company current accounts which have operating instructions as "Singly"

Click here to view Fees & Charges for Merchant Advantage Plus Current Account before 1st November, 2013

Click here to view charges applicable before 1st January, 2012

Click here to view charges applicable before 1st September,2010

W.e.f April 1, 2012, all fees and charges mentioned in the Tariffs, Charges or Fees Brochures will attract Service Tax @ 12% and Education Cess @ 3% of the service tax amount. The same will appear as separate debits in the statements.

+For accounts maintaining AQB less than Rs.1,00,000/- as of previous qtr will be charged Rs.25 each for next 3 montly statement

**Available at Select locations.You need to register with the Bank for availing these services, please contact your Branch Manager for further details.

***Charges applicable w.e.f 15th Oct '09. Inclusive of service tax and educational cess.

Apply Now

To apply for a Plus Current Account with HDFC Bank please choose from the following:

Request a Bank representative to contact you Click here to fill up your contact details.

Download an application form

Form for opening an account (individuals)

Form for opening an account (companies)

After downloading the file*, please follow these steps:

  • Print and complete the application form.
  • Submit the documents at any of our branches. Click here to find a branch near you.

For documents submitted at a branch, please give us a week to revert on your application.

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