India’s leading private banks AXIS, HDFC and ICICI  said on Wednesday they will charge a minimum of Rs 150 for cash deposits and withdrawals after four free transactions in a month

HDFC Bank:

• There are four free transactions. Rs 150 plus taxes and cess will be charged from fifth transaction onwards.
• Withdrawal and deposit up to Rs 2 lakh are allowed at home branches, with transactions above this limit being chargeable.
• HDFC defines the home branch as where an account was opened.
• The transaction charge is applicable on all basic savings and salary accounts. Prime, Classic, Preferred, Imperia or any other Managed program customers are exempt.

ICICI Bank:

• There are four free transactions and a levy of Rs 150 will be applicable from the fifth transaction onwards.
•  The charge is applicable only on cash transactions at non-home branches of ICICI.
• ICICI defines it as all the branches in the city where an account was opened.
• This levy will be charged on customers with basic savings accounts. Salary accounts and ‘priviledged’ customers are exempt.

Axis Bank:

• A charge, of Rs 5 per thousand or Rs 150 whichever is higher, will be levied from the fifth cash transaction onwards on savings accounts.
• Axis Bank has clarified that it does not differentiate between home and non-home branches.
• Salary accounts and ‘priviledged’ customers are exempt from the transaction fees.

ATMs:

• There has been no change in the transaction fee at ATMs.

Reactions:

Here @PMOIndia wants india to do cashless transaction & @icicibank charges Rs.5 on evry bank transfer U do. Change ur slogan 2 #KhayalKhudka pic.twitter.com/143N2m4ZWM

— Rosh (@TekiRosh) March 2, 2017

#YoModiSoLiar never been told that “#AchheDin is only meant to Market BJP across country in election #Modi #महंगाई_डायन #RIPAccheDin pic.twitter.com/7knLrzke6A

— Shashank Salunkhe (@expertshank) March 2, 2017