Panaji
HDFC Bank has issued, by far, the clearest advisory on their website under the ‘important messages’ link under the related product. The notice titled ‘Revision of fees and charges-Savings and salary accounts (Effective March 1, 2017)’ states that a list of managed program customers such as Prime, Classic, Preferred, Imperia and others will not be charged the fees.
According to the notice, first four cash transactions per month including withdrawals and deposits will be free. A charge of ` 150 per transaction plus taxes and cess will be levied from fifth transaction onwards for most accounts. The limit of cash transactions per account has been set at ` two lakh per account at home branch and at ` 25,000 per day at non-home branches. The charges will apply on transactions beyond this limit.
While third party transaction above ` 25,000 will not be allowed, ` 150 plus taxes and cess will apply on the rest. In case of senior citizens and minors, while the limit will be enforced, charges will not be applied.
The official Twitter handle of ICICI Bank customer care has also sought to clarify that the Bank does not charge ` 150 plus taxes for transactions at ATMs. In response to a query raised by a customer, the handle @ICICIBank_Care has tweeted,
“This is incorrect information. We do not charge ` 150/txn for transactions at ICICI Bank ATMs.”
As per the website linked posted by ICICI Bank on Twitter, the charges apply on cash transactions of deposits and withdrawals at base branch that is all branches and cash acceptor machines in the same city.
While first four transactions of the month will be free, thereafter ` five per ` 1,000 or a minimum of ` 150 will be charged.
Transactions carried out by the account holder will have maximum withdrawal limit but third party transactions will be subject to a limit of ` 50,000 per day.
In case of a branch of the bank in other cities, the first cash withdrawal of the month will be free and the charges will apply thereafter.
Meanwhile, the ATM transaction rules will continue to remain the same at ` 20 for financial and ` 8.5 for non financial transaction from sixth transaction onwards at ICICI ATMs and from sixth transaction onwards at non-ICICI ATMs.
Axis Bank website states that the daily ATM withdrawal limit is ` 40,000 and the daily POS transaction limit has been placed at ` one lakh. Additionally, the free monthly cash transaction has been limited to first five transactions or ` 10 lakh, whichever earlier at metro or urban branches and at first 10 transactions or ` 10 lakh at semi-urban or rural branches.
The fee on cash deposits and withdrawals above these limits will be charges at ` five per ` 1,000 or `  150, whichever higher.
First five transactions at Axis Bank as well as other ATMs will be free and charge of ` 20 per financial transaction and ` 8.5 per non-financial transaction will apply thereafter.
