Zee Media Bureau
New Delhi: HDFC Bank and Axis Bank have decided to impose limits on the number of free transactions customers can undertake on their automated teller machines. (ATMs)
The banks will charge customers for more than five transactions at its ATM starting December 1. Beyond five transactions, the customers will have to pay Rs 20 per additional cash transaction plus taxes.
HDFC Bank will charge Rs 20 for financial transactions and Rs 8.5 (excluding taxes) for non-financial transactions (balance enquiry, mini statement, etc).
Axis Bank will charge Rs 20 (excluding taxes) for financial transactions and Rs 9.5 for non-financial transactions.
The Resrve Bank of India had allowed banks to limit free transactions to five at home bank ATMs and three at other banks from November but most banks are waiting to see what the competition does. State Bank of India, whose customers are among the most active ATM card users, has been the first to impose the limits.
