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Tuesday, January 18, 2022

ICICI, Axis Bank and HDFC bank ATM transaction charges to be hiked from 01 January 2022 | Personal Finance News

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New Delhi: After private sector ICICI Bank announced to hike charges for financial transaction fee above the free limit in Bank or other bank ATMs, Axis Bank and HDFC Bank have also announced to hike their fees.

HDFC Bank hikes ATM Transaction Charges

HDFC Bank charges customers while doing Financial Transactions are allowed first 5 free per month across all Cities. For Top 6 cities Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad ATMs — the first 3 Transactions are free per month (Financial + Non Financial). HDFC Bank said that Transactions over and above free limit will be charges as under:

– Cash withdrawal – Rs. 20 plus taxes per transaction Rs 21  plus taxes per transaction w.e.f 01 January 2022

– Non-Financial Transaction – Rs. 8.5 plus taxes per transaction at Non HDFC Bank ATMs

Axis Bank hikes ATM Transaction Charges

Axis Bank has said that The current rate for Axis/Non-Axis ATM: Cash Withdrawal (Financial transaction) fees beyond limits is Rs 20 per transaction while the Axis/Non-Axis ATM: Balance Enquiry (Non-Financial transaction) fees beyond limits is Rs 10 per transaction. While there will be no change in the Axis/Non-Axis ATM: Balance Enquiry (Non-Financial transaction) fees, Axis Bank said that effective 1st January 2022, financial transaction fee above the free limit in Axis Bank or other bank ATMs will be Rs 21 + GST.

ICICI Bank said for Transactions at ICICI Bank ATMs/Cash Recycler Machines (cash withdrawals) the first 5 financial transactions are free in a month; thereafter, Rs 20 per financial transaction. However, post the revision in ATM Transaction Charges, first 5 financial transactions are free in a month; thereafter, Rs 21 per financial transaction will be charged.

All Non-Financial transactions are free. (Financial transaction includes – Cash Withdrawal and Non-Financial transactions include – Balance Inquiry, Mini-statement & PIN change).

On the ATM Interchange (Transactions at Non ICICI Bank ATMs) First 3 transactions (inclusive of financial and non-financial) in 6 metro locations (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad), in a month are free. First 5 transactions (inclusive of financial and non-financial) at all other locations in a month are free. 

Maximum 5 transactions are free in a month, with a cap of 3 free transactions, in 6 metro locations. Thereafter, Rs 20 per financial transaction and Rs 8.50 per nonfinancial transaction. However, post the revision in ATM Transaction Charges Rs 21 per financial transaction and Rs 8.50 per nonfinancial transaction.

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