A fee is charged for any cash transaction made at a non-home branch, including a deposit or withdrawal. This charge varies from bank to bank. Furthermore, certain banks levy charges even when a third party conducts a cash transaction. Transacting at a non-home bank branch has a number of drawbacks. An individual usually opens a savings bank account at a bank's home branch. This account is effectively tied to that branch, and all other branches of the same bank are designated as non-home branches. Even for small cash transactions customers of non-home branches need to pay a 'cash handling charge' which again varies across banks. To recoup their expenses, banks charge customers for a variety of services. Some common charges that are imposed by the banks are demand draft, duplicate statement, and so on. So if you are planning to transact at a non-home bank branch of SBI, ICICI, HDFC or Axis Bank, here are the applicable charges that you need to know:
Charges levied by SBI Bank
You can withdraw up to Rs 50,000 per day from a non-home branch, the limit is capped at Rs 1 lakh for current account holders by SBI. The maximum amount of funds that can be deposited at an SBI non-home branch in a single day is Rs 2 lakh. Cash withdrawals at home and at non-home branches (fees based on transaction amount) - Small/no-frill deposits are not applicable as per SBI. Tatkal Money Remittance for Non-home transactions (Deposit to Core by cash/transfer) is charged at 1% of the remitted amount, with a minimum of Rs 10 and a maximum of Rs 100. Non-home branches of the SBI do not impose duplicate fixed deposit receipts if you have an account with them. Loan discharge via cash reimbursement or account transfer is also not permitted at a non-home branch. Furthermore, you cannot extend your public provident fund (PPF) account up to a block of 5 years after fifteen years of lock-in period by submitting an application at a non-home branch. It's important to remember here is that, under the new rules, the bank will charge account holders each time a transaction fails due to a lack of funds. The fee for a failed transaction, according to the SBI website, is Rs 20 plus GST. In addition, SBI has stated in its new regulations that it would charge customers for non-financial transactions. Customers will also be levied Rs 10 plus GST to Rs 20 plus GST for "any additional transactions above the limits specified," according to the SBI website.
Charges levied by ICICI Bank
ICICI Bank does not charge fees for cash transactions up to Rs 25,000 per day at non-home branches. For an amount higher than Rs 25,000, a fee of Rs 5 per Rs 1,000 is charged, with a minimum of Rs 150. The total amount of third-party cash transactions for deposits and withdrawals is capped at Rs 25,000 per transaction and Rs 150 per transaction, respectively.
Charges levied by HDFC Bank
HDFC Bank allows Rs.1,00,000/- per account per day as an operational limit for cash deposits at non-home branches. The bank allows free cash withdrawals up to Rs. 1,00,000/- per day at non-home branches, after which charges Rs.2 up to Rs 1000, with a minimum of Rs.50/- per transaction; third party cash withdrawals are limited to Rs. 50,000/- per transaction by HDFC Bank respectively.
Charges levied by Axis Bank
For both cash deposits at home and non-home branches, Axis Bank allows a free limit of Rs 2 lakh for current account holders. Whereas charges are levied at Rs 50 per transaction for the deposit of 4/1,000. ATM Transaction Fees for Post Transaction Limits will be charged at Rs.20 per transaction (Financial + Non-Financial) on Axis Bank and non-Axis Bank ATMs starting August 1, 2020. The monthly free limit (Self/Third Party) is capped for the first four transactions or Rs.2 lakhs, whichever comes first. The bank will charge you Rs.5 for Rs.1000 or Rs.150, whichever is higher if you go over your free limit. The bank will charge Rs.5/- per thousand or part thereof, subject to a minimum of Rs.150/-, for cash transactions at non-home branches up to Rs.25,000/- per day.