ICICI Bank account holder? You will have to pay...

ICICI Bank account holder? You will have to pay more for withdrawing, depositing your money

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ICICI Bank account holder? You will have to pay more for withdrawing, depositing your money

https://www.zeebiz.com/personal-finance/news-ic...
ICICI Bank account holders will have to pay more for transactions from December 15, 2019. ICICI Bank has stated on its website that it is set to hike deposit and withdrawal charges on all savings accounts transactions.
ICICI Bank account holders will have to pay more for transactions from December 15, 2019. ICICI Bank has stated on its website that it is set to hike deposit and withdrawal charges on all savings accounts transactions. Also, it will charge customers a fixed amount after certain amount of cash transactions is breached. After the implementation of the new charges, the customers will be allowed to make four free cash transactions per month and a charge of Rs 150 per transaction will be imposed after that.

The customers will be allowed to deposit or withdraw up to Rs 2 lakh from their home branch without any fee i.e. no charges will be levied for transactions up to Rs 2 lakh. ICICI Bank says on its official website said that above Rs 2 lakh, the customers will have to pay Rs 5 per Rs 1,000, subject to a minimum of Rs 150.

“Home Branch (Branch where account is opened or ported) Rs 2 lakh. Free per month per account. Above Rs 2 lakh – Rs 5 per Rs 1,000, subject to a minimum of Rs 150,” it said.

Similarly, for the deposits and withdrawals made at non-home branch, no charges will be levied on transactions up to Rs 25,000 per day. Post that, the customers will have to pay the same amount. “No charges for cash transactions value up to Rs 25,000 per day. Above Rs 25,000 – Rs 5 per Rs 1,000 subject to a minimum of Rs 150,” the website.

In case of third party transactions, customers will have to pay Rs 150 per transaction with a limit of Rs 25,000 per day. The bank won’t allow transactions above Rs 25,000.

Meanwhile, the ICICI Bank share price gained 3 percent intraday on December 4 after global brokerages maintained their bullish stance of the stock. The share rose to Rs 525, also its new high on the BSE on Wednesday. The private sector lender’s stock surpassed its previous high of Rs 520, hit on November 28, 2019.

8 Comments  |  
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Deal Cadet
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Day by day every f****g sector is increasing hiking their prices, telecom,agriculture,banking sector,dth sector etc.
All the juices of this low economy will be extracted from us while ministers,politicians enjoy tax free life with govt. Goodies.
Hail fake democracy.

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Deal Subedar
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sharmajikaladkahu wrote:

Day by day every f****g sector is increasing hiking their prices, telecom,agriculture,banking sector,dth sector etc.
All the juices of this low economy will be extracted from us while ministers,politicians enjoy tax free life with govt. Goodies.
Hail fake democracy.

going from bad to worst day by day ..

expect negative rates in few year if these continues

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Deal Cadet
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theruler007 wrote:

going from bad to worst day by day ..

expect negative rates in few year if these continues

Hope not, people are more aware now.

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Deal Subedar
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this is only for saving account bo think.

4 transaction in a month are enough for ordinary working class. these people also don’t have time to go to bank this many times.

its good decision should also be implemented in psu banks.

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Deal Cadet
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At HDFC if you enquired about your account balance by visiting the branch, they charge for it. Cause it’s an expense to them, they want you to use phone banking, net banking and ATM.

Similarly, ICICI Bank wants to reduce frequent withdraw at branch level……

Use ATM to withdraw and deposit cash

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Deal Lieutenant
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@_One_Miller_
This decision is in compliance to advisory from PMO and expect other banks to also follow.
However, in today’s world where practically 90% of the transactions are online, for a normal household, 10-15000 is the maximum cash requirement. Also, most households have multiple bank accounts. So this is not really going to have any impact. And in normal situations, we rarely go to a branch to withdraw cash, we do it from ATM. In the 20 years that I hold my ICICI account, I have visited the branch only about 7-8 times, of which 3 times was for change of address.
Further, while this will be the general policy of ICICI, they also have the history of offering relaxations for premium and Salary account holders.

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panchabhut wrote:

@_One_Miller_
This decision is in compliance to advisory from PMO and expect other banks to also follow.
However, in today’s world where practically 90% of the transactions are online, for a normal household, 10-15000 is the maximum cash requirement. Also, most households have multiple bank accounts. So this is not really going to have any impact. And in normal situations, we rarely go to a branch to withdraw cash, we do it from ATM.
Further, while this will be the general policy of ICICI, they also have the history of offering relaxations for premium and Salary account holders.

It’s good move.

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