Several banks, including top private and public sector banks, have not implemented the restrictions that are to come into force on 1 November on ATM transactions especially with regard to charges to be levied on withdrawals beyond a prescribed free limit and withdrawals from non-home bank ATMs. These banks include ICICI Bank, HDFC Bank and Axis Bank. Kotak Mahindra Bank and YES Bank have already announced allowing unlimited withdrawals from third-party ATMs to customers with larger balances. Axis Bank, on the contrary has said the existing charges will continue. Meanwhile, State Bank of India is allowing more free transactions to its customer who avoid visiting the branches and unlimited transactions for those with large balances. The bank has limited branch withdrawals to four a month for those maintaining balances of up to Rs 25,000. For customers maintaining an average monthly balance of Rs 25,000 and above, the bank allows unlimited usage of its own ATM network, but will limit access to third-party ATMs to three transactions a month. RBI in October had said effective 1 November banks can start charging account holders in six metros of Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore for transactions more than five times a month at their ATMs. RBI had also cut down the number of free transactions at ATMs of third-party banks to three from five earlier.
