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HDFC Band decides to levy charge on ATM use

HDFC Bank said its customers will have topay Rs 20 per transaction beyond the five free transactions at its ATMs in the six metros in the country from 1 December. At other banks’ ATMs, HDFC customers will be chargted beyond three free transactions. The bank becomes the first private bank to impose charges on its customers for withdrawals at its own ATMs. Most banks are yet to fix the number of free transactions at their own ATMs or levy the charge. The bank also said it will charge Rs 8.50 plus taxes per transaction for non-financial transactions, such as balance enquiry, change of PIN, mini statement, etc. The bank’s current account holders will not be charged for using an HDFC Bank ATMs. RBI had stipulated 1 November as the date for banks to levy charges on transactions at ATMs beyond the fixed free transactions. RBI had left it to the banks’ individual discretion to charge customers or bear the cost. Currently, there is no limit on customers for using own-bank ATMs.

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