After State Bank of India (SBI), another major lender ICICI Bank is all set to change rules and charges for cash withdrawals from ATMs, cheque books and other financial transactions. Starting from next month, ICICI bank account holders will have to pay more for cash withdrawals from non-bank ATMs after three free transactions. The revised rules will be applicable for domestic savings account holders including salary accounts.
Take a look at the revised guidelines charges for cash transactions, cash withdrawals from ATMs and chequebooks
1) ATM Transactions: Customers will get three free cash withdrawals from non-ICICI Bank ATMs in six metro cities — Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad — in a month. In all other locations, first five transactions will be free. These transactions include both the financial and non-financial transaction, according to the bank’s website. Beyond this limit, the bank will charge Rs 20 per financial transaction. For non-financial transactions above the prescribed limit, the charge has been fixed at Rs 8.50 per transaction. These charges will be applicable for Silver, Gold, Magnum, Titanium and Wealth cardholders.
2) Cash transactions at home branch: The bank has allowed four free transactions at bank branches every month. Above the free limits, the customers have to pay Rs 150 per transaction. The cash transactions include both deposits and withdrawals at ICICI bank branches.
3) Cash transaction limit every month: ICICI Bank has also fixed a value for cash transactions every month. For home branch where the account is opened or ported, the value limit has been set at Rs 1 lakh for free cash transactions every month. To deposit or withdraw more than the fixed amount, the ICICI bank account holders need to pay Rs 5 per Rs 1,000, subject to a minimum of Rs 150. For non-home branch, there will be wil no charges for cash transactions up to Rs 25,000 per day. Above Rs 25,000, the lender will charge Rs 5 per Rs 1,000, subject to a minimum of Rs 150, ICICI Bank said.
3) For third party transactions, the limit has been set at Rs 25,000 per day. Above Rs 25,000-limit, the cash transactions are not permitted.
4) Regular plus salary account holders: For ICICI Bank regular plus salary account holders, the first four transactions will be free in a month. “Thereafter Rs 5 per thousand rupees or part thereof, subject to a minimum of Rs 150 in the same month,” the bank said. There will be no charges for the first cash deposit of a calendar month at the Cash Recycler Machine. The bank will charge Rs 5 per thousand rupees after the free limit.
5) Cheque book: The charges will be nil for 25 payable-at-par cheque leaves in a year. Above the free limit, the bank will charge Rs 20 for every additional cheque book of 10 leaves.
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