New Delhi: Starting July 1, major private sector banks HDFC Bank and ICICI Bank will revise their charges on credit card usage and banking services. Both banks have issued official notifications to inform users of the updated fees.

What’s changing in HDFC Bank

HDFC Bank is introducing new charges primarily on credit card transactions, particularly in these categories:

1. Online Gaming

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.

2. Digital wallet

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.

3. Utility bill 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.

4. 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.

What’s changing in ICICI Bank

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.

1. Cash, Cheque, DD and PO transactions

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.

2. ATM usage

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.

3. Debit Card fees

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

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