Mumbai, Mar 2 (KNN) Major private sector banks including HDBC Bank, ICICI Bank and Axis Bank have stared transaction charges for cash deposits and withdrawals at their branches beyond four free transactions in a month.

HDFC Bank   , ICICI Bank   and Axis Bank    on Wednesday began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.

The new charges would apply to savings as well as salary accounts effective from today, HDFC Bank said in a circular.

The bank would also cap the third party cash transactions at Rs 25,000 per day, while cash handling charges would be withdrawn effective today, the circular added.

For ICICI Bank and Axis Bank, these charges came into effect early in January and are same as they were before demonetization in November.

These charges are for cash transactions in the branches, and not through ATMs.

According to details on ICICI Bank website, there will be no charge for first four transactions a month at branches in home city while Rs 5 per thousand rupees would be charged thereafter subject to a minimum of Rs 150 in the same month. The third party limit would be Rs 50,000 per day.

For non-home branches, ICICI Bank would not charge anything for first cash withdrawal of a calendar month and Rs 5 per thousand rupees thereafter subject to a minimum of Rs 150.

For anywhere cash deposit, ICICI Bank would charge Rs 5 per thousand rupees (subject to a minimum of 150) at branches, while deposit at Cash Acceptance Machine would be free of charge for first cash deposit of a calendar month and Rs 5 per thousand thereafter.

At Axis Bank, the first five transactions or Rs 10 lakhs of cash deposits or withdrawals would be free and charged at Rs 5 per thousand rupees or Rs 150, whichever is higher. 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.