If you withdraw or deposit money from another branch of your own bank, then you have to pay its fees. Major banks like SBI, PNB, Bank of Baroda, HDFC, ICICI charge this fee from customers according to their respective requirements.
The branch of the bank where you open your account is called Home Branch. In the home branch, the customer’s account is maintained. Most of the facilities offered to the customer in the home branch are available to customers in other branches of the bank or even non-home branch. If you deposit cash in a non-home branch or withdraw from it, the bank charges you on the withdrawal deposit. This fee varies from bank to bank.
For example, if you have a savings account with the State Bank of India (SBI), you can withdraw up to Rs 50,000 daily from a non-home branch using a withdrawal form with a passbook. For current account holders, the limit is 1 lakh. However SBI states that cash withdrawals (charges based on multiple transactions) at home branch and non-home branch do not apply to small / no-frill deposits / basic savings bank account holders. The maximum limit for depositing cash in SBI’s non-home branch is Rs 2 lakh per day.
Non-home branches do not issue duplicate RD receipts if you have an account with SBI. Further, debt redemptions are not sanctioned from non-home branches through cash repayment or account transfer. Further, you cannot extend investment in Public Provident Fund (PPF) on completion of fifteen years through an application in a non-home branch.
ICICI Bank Fees
ICICI Bank charges 5,000 free transactions per month and a minimum of 150 after the first non-home bank transaction of the month. Apart from this, a maximum of one person can transact 50,000 himself in a day in a non-home branch. For a third party, this limit is 15,000.
HDFC bank
HDFC Bank allows cash withdrawals of up to 1 lakh per day, after which its transaction charges a minimum of Rs 2 per 1000 or a minimum of Rs 50. Third party cash withdrawals are allowed up to a maximum of 50,000 per transaction.
