Daijiworld Media Network - New Delhi
New Delhi, Jun 1: Major private sector banks HDFC Bank and ICICI Bank have announced new charges on various credit card and banking services, effective from July 1.
HDFC Bank will introduce a 1% fee (capped at Rs 4,999 monthly) on credit card spends exceeding Rs 10,000 per month for online gaming (e.g. Dream11, Rummy Culture, MPL), third-party digital wallet loads (e.g. PayTM, Mobikwik), and utility payments above Rs 50,000 monthly. No reward points will be awarded for online gaming transactions. Insurance payments are exempted from the utility category fee. Rent payments will continue to attract a 1% fee, and fuel spends above Rs 15,000 will be charged at 1%. Education payments made through official portals remain exempt.
ICICI Bank has revised cash, cheque, DD (demand draft), and PO (pay order) transaction fees to Rs 2 per Rs 1,000 (minimum Rs 50, maximum Rs 15,000). Previously, it was Rs 50 up to Rs 10,000 and Rs 5 per Rs 1,000 beyond that.
ATM charges have also increased. At other banks’ ATMs, after three free transactions, Rs 23 will be charged for financial transactions (up from Rs 21) and Rs 8.5 for non-financial ones. At ICICI ATMs, regular savings account holders will pay Rs 23 per financial transaction beyond the first five free, up from Rs 21.
Additionally, the annual debit card fee has risen from Rs 200 to Rs 300. Replacement debit card fees have also increased to Rs 300.