ATM Transaction Charges will be hiked!!

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ATM charges HDFC/ICICI Bank!! The private sector lender ICICI Bank is all set to increase its service charges of the ATM transaction on savings accounts, a few weeks after changing its interest rates on fixed deposits. An adjustment on ATM transaction charges for domestic savings account holders has also been notified by the bank. For transactions at ICICI Bank ATMs/ cash withdrawals, the first five financial transactions are free in a month. Thereafter, 20 rupees per financial transaction will be deducted.

 From 1st January 2022, the bank is going to allow the first 5 financial transactions free in a month. Then, 21rupees per financial transaction and all non-financial transactions are to remain free as earlier. ICICI Bank should note that financial transactions include cash withdrawal and non-financial transactions include – balance inquiry, mini-statement and PIN change. On the other hand on ATM interchange , the bank currently allows the first 3 transactions  in 6 metro locations  such as Mumbai, New Delhi, Chennai, Kolkata, Bangalore and Hyderabad  for free, first 5 transactions including  of financial and non-financial  at all other locations in a month for free, up to 5 free transactions in a month with a cap of 3 free transactions in 6 metro locations and thereafter, Rs 20 per financial transaction and 8.50 rupees  per nonfinancial transaction is applied as of now. Nevertheless with effect from 1st January 2022 the bank is all set to charge 21 rupees  per financial transaction and  8.50 rupees  per nonfinancial transaction if the limit on ATM interchange is surpassed by a savings account holder. Customers should also note that taxes at prevailing rates as per Government order shall be applicable over and above the mentioned charges.

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