Axis Bank - Cash Deposit Charges Easy / Liberty / Prestige

[Grogu]

Someone please explain these charges, applicable to Easy 12k / Liberty 25k / Prestige 75k savings account.

Cash deposited at ATM in non-banking hours / public holidays above 5k in a month attracts a transaction fee of Rs.50. (as per my understanding)

How can RBI allow banks to charge for this, it's a basic service. Please share your experience with CDM transactions at Bank.

IMO it's Consolidated घोटाला !

 

[sxchzy]

rbi allows for the same
icici also charges Charges of Rs 50 per transaction, will be levied on cash deposited in the Cash Acceptor/Recycler machines on bank holidays and between 06:00 p.m. and 08:00 a.m. on working days. The charges would be applicable if the cash deposit in the Cash Acceptor/Recycler machines on bank holidays and between 6 pm and 8 am on working days exceeds Rs 10,000 per month either as a single transaction or multiple transactions. Above charges will not be applicable to Senior Citizens, Basic Savings Bank Account, Jandhan Accounts, Accounts held by incapacitated and visually impaired persons, Student Accounts or any other Accounts identified by ICICI Bank.

 

[Grogu]

rbi allows for the same
icici also charges Charges of Rs 50 per transaction, will be levied on cash deposited in the Cash Acceptor/Recycler machines on bank holidays and between 06:00 p.m. and 08:00 a.m. on working days. The charges would be applicable if the cash deposit in the Cash Acceptor/Recycler machines on bank holidays and between 6 pm and 8 am on working days exceeds Rs 10,000 per month either as a single transaction or multiple transactions. Above charges will not be applicable to Senior Citizens, Basic Savings Bank Account, Jandhan Accounts, Accounts held by incapacitated and visually impaired persons, Student Accounts or any other Accounts identified by ICICI Bank.

So, ICICI also charges for cash deposit. Is it only on 10k account or even on higher variants?

 

[doraemon]

So cash deposit also has charges that's something strange 😕

 

[sxchzy]

So, ICICI also charges for cash deposit. Is it only on 10k account or even on higher variants?

ALL VARIANTS APART FROM WEALTH MANAGEMENT AND PRIVATE BANKING

 

[VISHESH_BANSAL]

Someone please explain these charges, applicable to Easy 12k / Liberty 25k / Prestige 75k savings account.

Cash deposited at ATM in non-banking hours / public holidays above 5k in a month attracts a transaction fee of Rs.50. (as per my understanding)

How can RBI allow banks to charge for this, it's a basic service. Please share your experience with CDM transactions at Bank.

IMO it's Consolidated घोटाला !

This is to stop Misuse by Business Persons.


Many Small Business use Savings Account and after closing business at night they depost Cash in Night and Withdraw in Morning🤣

This Increase the Cash Management Burnden and hence charges.

 

[its_karan]

non-banking hours

there is one more peculiar thing I observed on this

Banking and Non-Banking hours are not consistent among banks for cash deposit.
&
And some Banks can bypass that time limit also.


- For HDFC, it is 3:30 pm.
- For Yes, it is 4:30 pm
- For Indusind, it is 5 pm.

It is convenient for me to deposit cash for free in Indusind till 5.

However, I have also seen that bm can authorize on special requests cash deposits in Indusind post 5(Again free).

koi kanoon toh hoga iska

 

[VISHESH_BANSAL]

there is one more peculiar thing I observed on this

Banking and Non-Banking hours are not consistent among banks for cash deposit.
&
And some Banks can bypass that time limit also.


- For HDFC, it is 3:30 pm.
- For Indusind, it is 5 pm.

It is convenient for me to deposit cash for free in Indusind till 5.

However, I have also seen that bm can authorize on special requests cash deposits in Indusind post 5(Again free).

koi kanoon toh hoga iska

Extended Operating time for Cash Deposits is just to attract Merchants

Earlier RBL Cash Counter used to be open till 6 PM without any special Request.

Many Times I did Deposits at 5:40, 5:50...PM

Now RBL too reduced it too 5PM.

Timing also depends upon location of the Branch to attract new Customers.

some Branches are strict with the timing.

If they keep doing Public dealing, when they will Complete their Backend work like verifing and Reconciliation of Cash Txns.

So every Branch has a fixed timing for Public Dealing and varies with Bank to Bank.

I was denied by HDFC for Cash Deposit just beacuse I was few minutes late.

 

[Tejo]

there is one more peculiar thing I observed on this

Banking and Non-Banking hours are not consistent among banks for cash deposit.
&
And some Banks can bypass that time limit also.


- For HDFC, it is 3:30 pm.
- For Indusind, it is 5 pm.

It is convenient for me to deposit cash for free in Indusind till 5.

However, I have also seen that bm can authorize on special requests cash deposits in Indusind post 5(Again free).

koi kanoon toh hoga iska

Indusind promotes itself as NRI Banking but it was just as same as co-operative bank. Resolution after decades.

 

[techt]

This is to stop Misuse by Business Persons.

These days, misusing the services itself has become business to some persons.

 

[techt]

Indusind promotes itself as NRI Banking but it was just as same as co-operative bank. Resolution after decades.

Not Resolving Issues

 

[Anil_Singh]

I didn't knew about this. Axis charged me 100 for 2 txns. Had to call customer care to reverse these charges and they did.

 

[manojvijaychauhan]

I want to deposit 3 lakh rupees best way to deposit

I’ve A/C in

Au Sfb

Central bank of india

Jana small finance bank

Axis bank

Hdfc bank

Sbi

 

[Tejo]

I want to deposit 3 lakh rupees best way to deposit

I’ve A/C in

Au Sfb

Central bank of india

Jana small finance bank

Axis bank

Hdfc bank

Sbi

Go with cbi or jsf

 

[VISHESH_BANSAL]

I want to deposit 3 lakh rupees best way to deposit

I’ve A/C in

Au Sfb

Central bank of india

Jana small finance bank

Axis bank

Hdfc bank

Sbi

Seriously, You want to Know best way to Deposit Cash in Bank Account ?🤦‍♂️

 

[gowthamv]

I want to deposit 3 lakh rupees best way to deposit

I’ve A/C in

Au Sfb

Central bank of india

Jana small finance bank

Axis bank

Hdfc bank

Sbi

Split the cash into smaller segments and deposit on various bank's CDMs.

 

[doraemon]

I want to deposit 3 lakh rupees best way to deposit

I’ve A/C in

Au Sfb

Central bank of india

Jana small finance bank

Axis bank

Hdfc bank

Sbi

I was also in same dilemma
Then I deposited 2 lakhs in my account through CDM machine

Upto 10 lac is okay a year

 

[Grogu]

I want to deposit 3 lakh rupees best way to deposit

I’ve A/C in

Au Sfb

Central bank of india

Jana small finance bank

Axis bank

Hdfc bank

Sbi

Generally Govt Banks and Small Banks provide higher cash deposit limits but for 3 lacs, all the banks charge a certain fee.

So It's better to deposit 1 lac each in SBI, Central Bank & Jana Bank.