ICICI Bank Customer Alert: Cash Withdrawal, ATM Transaction Charges to Increase From August

ICICI Bank Customer Alert: For the customers, these charges will be taking effect for the domestic savings account. After the rules take effect, ICICI bank account holders will have to pay a fee at a higher price for cash withdrawals from non-bank ATMs after the first three transactions.

Written by: India.com Business Desk Edited by: Manmath Nayak

Published: July 29, 2021, 4:42 PM IST

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As per the updates from ICICI Bank, “Resident senior citizen customers will get an additional interest rate on an FD of 0.10 per cent for a limited time over and above the existing additional rate of 0.50 per cent per annum."

ICICI Bank Customer Alert: Customers at the ICICI Bank, here is an important update for you. The ICICI Bank has planned to implement revisions to cash transactions, ATM interchange as well as chequebook charges from August 1. Notably, these charges will be taking effect for the domestic savings account. After the rules take effect, ICICI bank account holders will have to pay a fee at a higher price for cash withdrawals from non-bank ATMs after the first three transactions.

Cash Withdrawal Limit: As per the updates from the bank, the first cash withdrawal of the calendar month will be free of charge from August. But after that, the bank account holders will have to pay a Rs 5 charge for every Rs 1,000 that they withdraw from the bank. Moreover, the ICICI bank has also fixed a limit of Rs 1 lakh for said free cash transaction every month. This is subject to a minimum of Rs 150. Notably, these changes apply to home-branch accounts where the account was opened or ported. However, for the non-home branches, there will be no charge for transactions of up to Rs 25,000 per day, exceeding the limit will levy the same charges as mentioned above.

ATM Transaction: The ICICI Bank in a notification said that the customers can enjoy the first three transactions free of charge from non-bank ATMs across six metros – Mumbai, Delhi, Chennai, Kolkata, Hyderabad and BangaloreAfter the limit exceeds, the bank will levy a charge of Rs 20 per financial transaction. Cardholders with Silver, Gold, Magnum, Titanium and Wealth variants accounts will be affected.

Chequebook Charges: The ICICI bank has also made it clear that the customers will have to pay a fee for the use of additional cheque books in the coming month. As per the updates, the first 25 leaf chequebook for a given year will have no additional charges attached to it. However, there is a charge of Rs 20 for every additional chequebook of 10 cheque leaves thereafter.

Third-Party Transaction: The ICICI bank said that for third party transactions, be it withdrawal or deposits, the upper limit on this will be Rs 25,000 per day. However, there will be a charge of Rs 150 per transaction. Customers must keep in mind that above Rs 25,000 per day is not allowed.

Value Limit Charges: From next month onwards, the home-branch value limit will be set to Rs 1 lakh for customers in a given month, for one account. And for non-home branches, no charges will be levied for cash transactions of up to Rs 25,000 per day. Exceeding the limit costs Rs 5 per every Rs 1,000 thereafter, subject to a minimum of Rs 150.

Senior Citizens’ Accounts: The ICICI bank said that these types of accounts will have an upper limit of Rs 25,000 per day on transactions, but the account will not be charged in this case.