Free withdrawal days are over: ICICI, Axis, HDFC Bank restore cash charges

The new charges would apply to savings as well as salary accounts effective from today

 Breaking News - Some banks, including HDFC Bank, have begun charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.

The new charges would apply to savings as well as salary accounts effective from today, leading private sector player HDFC Bank said in a circular.

 

The bank would also cap the third party cash transactions at Rs 25,000 per day, while cash handling charges would be withdrawn effective today, the circular added.

Read Source: Pay Rs 150 After 4 Cash Transactions In A Month At HDFC Bank, ICICI, Axis

 In the case of several banks, including ICICI Bank and Axis Bank, these charges came into effect early in January and are same as they were before the demonetisation move announced on November 8, while there is an increase in such fees in case of some others, including HDFC Bank, today onwards.

These charges are for cash transactions in the branches, and not through ATMs.

The move was seen in some quarters as aimed at discouraging cash transactions and furthering the digital payment drive.

 

For the basic no-frills accounts, maximum four cash withdrawals would continue to remain free and there would be no fees for cash deposits.(read more...)

Pay Rs 150 after 4 cash transactions in a month at HDFC Bank, ICICI, Axis

The bank would also cap the third party cash transactions at Rs 25,000 per day

 

Breaking News -  Banks including HDFC Bank, ICICI Bank and Axis Bank today began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.

The charges would apply to savings as well as salary accounts effective from today, leading private sector player HDFC Bank said in a circular.

The bank would also cap the third party cash transactions at Rs 25,000 per day, while cash handling charges would be withdrawn effective today, the circular added.

The move was seen in some quarters as aimed at discouraging cash transactions and furthering the digital payment drive.

Also Read: Free Withdrawal Days Are Over: ICICI, Axis, HDFC Bank Restore Cash Charges

For the basic no-frills accounts, maximum four cash withdrawals would continue to remain free and there would be no fees for cash deposits.

In case of ICICI Bank, the charges are same as they were before the demonetisation move announced on November 8, while there is an increase in such fees in case of some others.

According to details on ICICI Bank website, there will be no charge for first four transactions a month in home branch while Rs 5 per thousand rupees would be charged thereafter subject to a minimum of Rs 150 in the same month. (read more...)

Note ban: You can withdraw Rs 50,000 from your savings accounts from today

Govt, RBI had imposed limits on withdrawal of money due to shortage of currency following note ban

 

 

Breaking News - The weekly limit on withdrawal of cash from savings bank accounts will be increased to Rs 50,000, from the current Rs 24,000, from Monday, and the limit will be removed from March 13.

"Effective February 20, 2017, the limits from cash withdrawal limit from savings bank accounts will be enhanced to Rs 50,000 per week from the current limit of Rs 24,000 per week (and) effective March 13, 2017, there will be no limits prescribed by RBI on cash withdrawal from savings bank accounts."

The Government and RBI had imposed limits on withdrawal of money from ATMs and bank branches in view of the currency shortage following demonetisation.

These limits, however, are being gradually eased, with RBI pumping in new notes of Rs 500 and Rs 2,000. (read more...)