HDFC clarifies, says no revision in ATM charges

HDFC has clarified on Thursday regarding the transaction charges that there has been no revision in their ATM charges as has been reported certain media outlets. "We have revised our transaction charges only for cash withdrawal/deposits at brances," the statement said.

HDFC bank had notified their respective account holders on Wednesday about a transactional fee, which will be applicable on the fifth transaction in a month. 

Clarification. Click the link for more details https://t.co/pFKKXjbw6k pic.twitter.com/IUH4FbZu86

— HDFC Bank (@HDFCBank_Cares) March 2, 2017

The banks announced that after an individual does four transactions, the fifth one will be subject to a fee, regardless of whether it is cash withdrawal or deposit. However, the new fee will not be applicable on ATM withdrawals.

Banks have proposed that a fee of Rs. 150 will be added, along with service tax, in addition to a fee of Rs 5 per 1000. 

The cap on transactions has been placed at Rs 2 lakh per month per account. Any transaction beyond this will be applicable for an extra charge.