Shocking news to all who use ATM's to withdraw money !!

Major Private Banks Charging Rs 150 after four ATM cash transaction!!!

Major Private sector banks Started Charging Rs 150 after Four cash Transaction 

Major Private sector Banks began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month. This charge is applicable for both Salary a/c and Savings a/c effective from Mar 1 2017. The bank would also control the third party cash transactions at Rs 25,000 per day, while cash handling charges would be withdrawn effective March 1ST, the circular added.
The move was seen in some quarters as aimed at discouraging cash transactions and furthering the digital payment drive.
For the basic no-frills accounts, maximum four cash withdrawals would continue to remain free and there would be no fees for cash deposits. Currently this fee is applicable to 3 major private sector banks; ICICI BANK, HDFC Bank, and Axis Bank.
It could not be ascertained whether the public sector banks have also begun imposing such charges.
When contacted, a senior official said there has been no directive from the government to the banks regarding levy of such charges.