Private Banks announce charges for more than four transaction per month
There were severe shortage for cash at ATMs. Public started gathering in many numbers at ATMs and banks to withdraw money.
Before demonetization, system was said to free transactions to be allowed for about 5 minutes in ATMs and charges to be made exceeding.
Demonetization is said have no charges levied for taking up money from ATMs over 4 months.
At this scenario, cash transaction shortage are now improved well and hence private banks are resumed charging for financial transactions which is said to be exceeding the fixed limit. According to this, person can able to withdraw 4 free transactions per month which includes the money withdrawal and deposit.
Transactions which is said to have exceeding 4 minimum charges will be collected a maximum Rs 150.
HDFC and ICICI Banks have announced that this system to be effective from today (Thursday, 2nd March)
These charges would be applicable for the bank savings account holders for exceeding 4 transactions per month.