New Delhi: ICICI’s ‘Zero balance’ account holders will have to pay a fee of Rs 100-Rs 125 for every transactions they make at the bank’s baranches from October 16, 2019.  As per the notificaton issued by the bank, all cash transactions will be charged at Rs 100 (per transaction) for the first two transactions and Rs 125 (per transaction) for any subsequent transaction at any ICICI Bank branch or cash deposits done at ICICI Bank Cash Recycler Machines.

“We encourage our customers to do their banking transactions through the digital mode and thus contribute to Digital India initiatives. As an illustration, we would like to mention that customers can withdraw cash by using their Debit Card at any Banks ATM* and funds can be transferred through NEFT/RTGS/UPI using Mobile Banking or Internet Banking at zero charges”, the bank said in an official communique.

In a bid to promote digitisation, the bank has waived off all charges for fund transfers through NEFT, RTGS and UPI transactions using mobile banking or internet banking.

If the bank’s revised terms and conditions are not acceptable to the customers, they can convert their Savings Account to a Basic Savings Bank Account by October 16 by visiting the nearest branch. “In case they wish to close the account, they may visit the nearest branch. “The revised terms and conditions shall apply till the date of closure of your account,” the ICICI bank said.