Banks to levy Rs 150 cash transaction fee

March 01, 2017 21:49

In a bid to discourage cash transactions, from March 1, customers carrying out financial transactions at HDFC Bank, ICICI Bank and others will have to pay a fee if the number of transactions exceed beyond four.

"Four free cash transactions per month. Fifth transaction onwards Rs 150 per transaction (plus taxes and cess) would be levied," HDFC Bank said in a statement.

It will be effective from March 1, it said.

ICICI Bank has already been levying a similar fee since July last year on cash transactions beyond five

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