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

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

Free withdrawal days are over: ICICI, Axis, HDFC Bank restore cash charges
March 02
11:22 2017

A few banks, including HDFC Bank, have started charging a base measure of Rs 150 for each exchange for money stores and withdrawals past four free exchanges in a month.

The new charges would apply to reserve funds and in addition compensation accounts successful from today, driving private part player HDFC Bank said in a roundabout.

The bank would likewise top the outsider money exchanges at Rs 25,000 every day, while money taking care of charges would be pulled back viable today, the round included.

On account of a few banks, including ICICI Bank and Axis Bank, these charges became effective ahead of schedule in January and are same as they were before the demonetisation move declared on November 8, while there is an expansion in such expenses in the event of some others, including HDFC Bank, today onwards.

These charges are for trade exchanges out the branches, and not through ATMs.

The move was found in a few quarters as went for debilitating money exchanges and promoting the computerized installment drive.

For the essential nitty gritty records, most extreme four money withdrawals would keep on remaining free and there would be no charges for money stores.

As indicated by points of interest on ICICI Bank site, there will be no charge for initial four exchanges a month at branches in home city while Rs 5 for each thousand rupees would be charged from there on subject to at least Rs 150 around the same time.

As far as possible would be Rs 50,000 every day.

For non-home branches, ICICI Bank would not charge anything for first money withdrawal of a logbook month and Rs 5 for each thousand rupees from that point subject to at least Rs 150.

For anyplace money store, ICICI Bank would charge Rs 5 for every thousand rupees (subject to at least 150) at branches, while store at Cash Acceptance Machine would be for nothing out of pocket for first money store of a schedule month and Rs 5 for each thousand from that point.

ATM intercharge charges have likewise been re-presented.

At Axis Bank, the initial five exchanges or Rs 10 lakh of money stores or withdrawals would be free and charged at Rs 5 for every thousand rupees or Rs 150, whichever is higher.

It couldn’t be learned whether people in general area banks have likewise started forcing such charges.

Whenever reached, a senior authority said there has been no order from the administration to the banks with respect to demand of such charges.

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Mayank Srivastava

Mayank Srivastava

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