New Delhi, June 1 (IANS) Starting July 1, major private sector banks like HDFC Bank and ICICI Bank will increase charges on various credit card and banking services.
Both banks have informed their customers about the changes through official notifications.
HDFC Bank has announced new charges for credit card users, especially for transactions involving online gaming, digital wallets, and utility payments.
If a customer spends more than Rs 10,000 in a month on online skill-based gaming platforms such as Dream11, Rummy Culture, Junglee Games, or MPL, a 1 per cent fee will be charged on the total monthly spend in this category.
The charge will be capped at Rs 4,999 per month. Additionally, no reward points will be given on such gaming transactions.
Similarly, if a customer loads more than Rs 10,000 in a month into third-party wallets like PayTM, Mobikwik, Freecharge, or Ola Money using their HDFC credit card, a 1 per cent charge will apply to the entire amount.
This fee will also be capped at Rs 4,999 per month.
For utility payments, if the total spending goes beyond Rs 50,000 in a month, a 1 per cent charge will be added, again with a monthly cap of Rs 4,999.
However, HDFC Bank has clarified that insurance payments will not be treated as utility payments, so no extra charge will be applied in such cases.
The bank has also revised maximum charges for rent, fuel, and education transactions. The upper limit for charges in these categories will now be Rs 4,999 per transaction.
The 1 per cent fee on rent payments will remain unchanged. Fuel transactions above Rs 15,000 will be charged 1 per cent, while education payments made directly through official college or school websites or their card machines will not be charged.
ICICI Bank has also made changes in several service charges. The fee for depositing cash, cheques, or for DD (demand draft) and PO (pay order) transactions has been changed.
Now, customers will be charged Rs 2 per Rs 1,000, with a minimum fee of Rs 50 and a maximum of Rs 15,000.
Earlier, the bank charged Rs 50 for amounts up to Rs 10,000 and Rs 5 per Rs 1,000 beyond that.
ATM usage fees have also gone up. After three free ATM transactions at other bank ATMs, ICICI will now charge Rs 23 for financial transactions and Rs 8.5 for non-financial ones.
Previously, the financial transaction fee was Rs 21. For ICICI Bank’s own ATMs, regular savings account holders will now pay Rs 23 for each financial transaction beyond the first five in a month, up from Rs 21 earlier.
Additionally, the annual fee for ICICI Bank debit cards has increased from Rs 200 to Rs 300. The fee for a replacement debit card has also gone up from Rs 200 to Rs 300.
–IANS
pk/vd
*Except for the headings & sub-headings, this story has not been edited by The enewstime.in and has been published from IANS feed.
