icici zero bal acct holders - ru getting charge...

icici zero bal acct holders - ru getting charged for atm cash withdrawals?

159°
Images
Deal Brigadier
73,102
83846
1151

From October 16, ICICI to levy ‘zero’ a/c holders Rs 125 per transaction
Sep 15, 2019, 05:52 IST
Read more at:
https://timesofindia.indiatimes.com/business/in...
CHENNAI: ICICI Bank ‘zero balance’ account holders will have to cough up a fee of Rs 100 to Rs 125 from October 16 onwards for every cash withdrawal they make at its branches. It will also impose a fee on cash deposits made at its currency recyclers.
ICICI Bank, in a communication issued on Friday night to its account holders, said, “We encourage our customers to do their banking transactions through the digital mode and thus contribute to Digital India initiatives.”
The bank has waived off all charges for fund transfers through NEFT, RTGS and UPI transactions using mobile banking or internet banking.
NEFT transaction fee at ICICI Bank branches currently range between Rs 2.25 and Rs 24.75 (GST) for amounts below Rs 10,000 and up to Rs 10 lakh. For RTGS transactions made at branches, the fee stands between Rs 20 and Rs 45 (GST) for amounts above Rs 2 lakh and up to Rs 10 lakh.
The bank also urged its account holders to opt for a changeover to other basic savings accounts or close their account.
-——————
Zero Balance Saving Account
Basic Savings Bank Deposit Account – BSBDA
Eligibility and Features: https://www.icicibank.com/Personal-Banking/acco...#
You do not have to keep any minimum Monthly Average Balance (MAB) with our Basic Savings Bank Account – it’s a zero balance Savings Account!

MAB requirement: Nil
Initial funding: Nil
Mode of holding: Single or Joint
Free Rupay Card facility
Free cash deposit
Free passbook facility
Internet Banking and Mobile Banking available on request.

37 Comments  |  
12 Dimers
Roger federer photos 9 150x150
Deal Subedar
111
1477
40

isiliye mai zero balance account se door rehta hu

Bal ganesh
Deal Lieutenant
94
3978
49

Its costlier than normal SB A/C – so many charges

Missing
Deal Subedar
270
2947
40

there are three types of zero balance accounts.
1. Salary linked zero balance account. reqd – salary to be credited online every month.
2. non-salary linked zero bal a/c.
3. FD backed zero bal a/c. reqd – FD for a certain min amt to be maintained.
these changes are applicable for non-salary linked zero bal a/c only.

Images
Deal Brigadier
73,102
83846
1151
panchabhut wrote:

there are three types of zero balance accounts.
1. Salary linked zero balance account. reqd – salary to be credited online every month.
2. non-salary linked zero bal a/c.
3. FD backed zero bal a/c. reqd – FD for a certain min amt to be maintained.
these changes are applicable for non-salary linked zero bal a/c only.

i think they are talking abt bsbda acct which is non-salary linked zero bal a/c and im also talking abt the same and wanna know abt atm cash withdrawal charges.

Missing
Deal Subedar
270
2947
40
Expand
rajrocks wrote:

i think they are talking abt bsbda acct which is non-salary linked zero bal a/c and im also talking abt the same and wanna know abt atm cash withdrawal charges.

effective from 1st oct, SBI is charging 10+gst for own and 20+gst for other bank atm txns.
ICICI is expected to be in the same range.

Missing
Deal Subedar
349
1316
25

I have zero balance pockets savings acc and its not getting charged for cash withdrawals from atm.
Charge is for cash withdrawal from branch

Yellow11 1256751 480x300 v1
Deal Subedar
75
1769
98

Useless account,

Missing
Deal Subedar
70
1127
55
panchabhut wrote:

there are three types of zero balance accounts.
1. Salary linked zero balance account. reqd – salary to be credited online every month.
2. non-salary linked zero bal a/c.
3. FD backed zero bal a/c. reqd – FD for a certain min amt to be maintained.
these changes are applicable for non-salary linked zero bal a/c only.

I opened ICICI Bank salary account 17 years back and salary credited for 1 year only, when I inquired earlier with bank they also don’t have clue to maintain 10K balance or not, but after average balance display feature I can see average balance to be maintained as 0 in my account.

Cropped3574287856799284837
Deal Cadet
56
156
1

I have icici silver saving account with zero MAB

Missing
Deal Cadet
154
707
8

I went yesterday to deposit 5000 in my account and i was charged 177rs for it
If we dont keep min balance we are charged 800
So if we deposit we are charged 150
to withdraw we are charged 125
If their atm doesnt work we are charged (posdec charges 27 per transaction if u try to withdraw but atm fails to give)
So this is the new generation bank
Well u know one thing,
My father opened a icici bank account 5 years back with 25000 mab
He never knew about this condition, he didnt keep such balance in the bank account and he was never familiar with banking.
One day he used to have a lakh rs balance and other day he uses all of it
So he never knew about any charges
When after 2-3 years i saw his statement i found 15000rs cut in the name of MAB and around 3000-5000 cut in the name of other charges
When i asked for a reversal as they didnt inform my father after spending a week or so with their cc they said we will revert ur charges. I was happy but after two days i found they have refunded 800

Missing
Deal Cadet
154
707
8
isntitb149 wrote:

I went yesterday to deposit 5000 in my account and i was charged 177rs for it
If we dont keep min balance we are charged 800
So if we deposit we are charged 150
to withdraw we are charged 125
If their atm doesnt work we are charged (posdec charges 27 per transaction if u try to withdraw but atm fails to give)
So this is the new generation bank
Well u know one thing,
My father opened a icici bank account 5 years back with 25000 mab
He never knew about this condition, he didnt keep such balance in the bank account and he was never familiar with banking.
One day he used to have a lakh rs balance and other day he uses all of it
So he never knew about any charges
When after 2-3 years i saw his statement i found 15000rs cut in the name of MAB and around 3000-5000 cut in the name of other charges
When i asked for a reversal as they didnt inform my father after spending a week or so with their cc they said we will revert ur charges. I was happy but after two days i found they have refunded 800

When i asked why only 800 they said we can reverse only one month charges.
There customer service have some three levels
Base level, mid level, high level
Day by day the issue upgraded and after talking to the high level i got this solution of one month reversal of MAB:(
Finally i opened an kotak 811 account for my mother and father and thats the best actually in my perspective

Untitled 1
Critic
77
4505
132
rogerthat wrote:

isiliye mai zero balance account se door rehta hu

True. They get their money one way or another.

Missing
Deal Newbie
61
82
0

Charges only for withdrawing money from branch not from ATM

Missing
Deal Subedar
270
2947
40
isntitb149 wrote:

I went yesterday to deposit 5000 in my account and i was charged 177rs for it
If we dont keep min balance we are charged 800
So if we deposit we are charged 150
to withdraw we are charged 125
If their atm doesnt work we are charged (posdec charges 27 per transaction if u try to withdraw but atm fails to give)
So this is the new generation bank
Well u know one thing,
My father opened a icici bank account 5 years back with 25000 mab
He never knew about this condition, he didnt keep such balance in the bank account and he was never familiar with banking.
One day he used to have a lakh rs balance and other day he uses all of it
So he never knew about any charges
When after 2-3 years i saw his statement i found 15000rs cut in the name of MAB and around 3000-5000 cut in the name of other charges
When i asked for a reversal as they didnt inform my father after spending a week or so with their cc they said we will revert ur charges. I was happy but after two days i found they have refunded 800

As per RBI no charges are applicable for ATM failure from bank side, including link failure and non availability of cash. However, for unable to dispense due to non availability of balance in account, charges can be levied.
For cash transactions at branch, including cash deposits, all banks have started to charge their normal customers wef 1st Oct, apparently as per the directives of Modi sarkar.
ICICI employees try to open high value Accounts to get incentives. It is a known issue with not just ICICI but practically all banks. Even PSU banks now try to mislead people to buy wrong insurance. I recently heard of an instance where a 65 year old person was sold a Pension plan in which he needed to pay minimum 10 years premium before he could start getting pension. Thats why always insist on opening new account with only a deposit of 5,000 and not more. That way, they can not make it a high value account.
RBI makes it the responsibility of the customer to verify their statements on monthly basis and report any discrepancies. If nothing is reported within 30 days, the charges are deemed to be accepted.

Images
Deal Brigadier
73,102
83846
1151
Expand
panchabhut wrote:

effective from 1st oct, SBI is charging 10+gst for own and 20+gst for other bank atm txns.
ICICI is expected to be in the same range.

sbi is charging for over limit cash withdrawal atm txns but here it seems icici is charging for even 1st atm cash withdrawal txn of the month.

Images
Deal Brigadier
73,102
83846
1151
isntitb149 wrote:

I went yesterday to deposit 5000 in my account and i was charged 177rs for it
If we dont keep min balance we are charged 800
So if we deposit we are charged 150
to withdraw we are charged 125
If their atm doesnt work we are charged (posdec charges 27 per transaction if u try to withdraw but atm fails to give)
So this is the new generation bank
Well u know one thing,
My father opened a icici bank account 5 years back with 25000 mab
He never knew about this condition, he didnt keep such balance in the bank account and he was never familiar with banking.
One day he used to have a lakh rs balance and other day he uses all of it
So he never knew about any charges
When after 2-3 years i saw his statement i found 15000rs cut in the name of MAB and around 3000-5000 cut in the name of other charges
When i asked for a reversal as they didnt inform my father after spending a week or so with their cc they said we will revert ur charges. I was happy but after two days i found they have refunded 800

which type of acct u deposited 5000?
reg ur fathers issue its better u contact to the manager of the branch where ur father is holding the acct.

Images
Deal Brigadier
73,102
83846
1151
SumanTmpl wrote:

Charges only for withdrawing money from branch not from ATM

did u confirm?

Missing
Deal Cadet
154
707
8
Expand
panchabhut wrote:

As per RBI no charges are applicable for ATM failure from bank side, including link failure and non availability of cash. However, for unable to dispense due to non availability of balance in account, charges can be levied.
For cash transactions at branch, including cash deposits, all banks have started to charge their normal customers wef 1st Oct, apparently as per the directives of Modi sarkar.
ICICI employees try to open high value Accounts to get incentives. It is a known issue with not just ICICI but practically all banks. Even PSU banks now try to mislead people to buy wrong insurance. I recently heard of an instance where a 65 year old person was sold a Pension plan in which he needed to pay minimum 10 years premium before he could start getting pension. Thats why always insist on opening new account with only a deposit of 5,000 and not more. That way, they can not make it a high value account.
RBI makes it the responsibility of the customer to verify their statements on monthly basis and report any discrepancies. If nothing is reported within 30 days, the charges are deemed to be accepted.

Agree with all points
i dont blame icici it was due to my negligence

Missing
Deal Cadet
154
707
8
Expand
rajrocks wrote:

which type of acct u deposited 5000?
reg ur fathers issue its better u contact to the manager of the branch where ur father is holding the acct.

Savings account which has mab of 10k
Actually after connecting with the last level of CC i got a call from  branch manager where account was opened
He first said Sorry for all matter and asked what has actually happened
And then what he asked was who was the person who opened ur account.
If it was me i would have obviously forget his name
But luckily my father remembered it
When i said his name, he said now he has left so we cant verify expressionless
Even after repeated tries of making him agree that there was mistake from both sides he didnt agree and so i understood nothing can be done and left the issue

Missing
Deal Cadet
154
707
8
Expand
Roushh wrote:

True. They get their money one way or another.

For me 811 is yet the best
No neft rtgs charges
Upi charges after 30 transactions a month
No min balance charges
Actually no charge yet

Roger federer photos 9 150x150
Deal Subedar
111
1477
40
Expand
isntitb149 wrote:

For me 811 is yet the best
No neft rtgs charges
Upi charges after 30 transactions a month
No min balance charges
Actually no charge yet

you never know when they introduce charges


axis zero bal free ASAP account with free Virtual Debit card

but it deducted penalty from my account for non maintenance of minimum amount

plus they have stopped Virtual Debit card, now only physical debit card with hefty fees is available.

Missing
Deal Cadet
154
707
8
Expand
rogerthat wrote:

you never know when they introduce charges


axis zero bal free ASAP account with free Virtual Debit card

but it deducted penalty from my account for non maintenance of minimum amount

plus they have stopped Virtual Debit card, now only physical debit card with hefty fees is available.

plus1
The day they introduce will be the day i compare and shift
Black 01
Deal Lieutenant
0
3836
58

Anyone experience with AndhraBank ?? Review please..

Missing
Deal Subedar
270
2947
40
Expand
rajrocks wrote:

sbi is charging for over limit cash withdrawal atm txns but here it seems icici is charging for even 1st atm cash withdrawal txn of the month.

regular account or Basic Service account?
for regular account, RBI mandates minimum number of free withdrawal per month which no bank can change. for basic service account, all ATM transactions are chargable.

Missing
Deal Subedar
270
2947
40
Expand
isntitb149 wrote:

Savings account which has mab of 10k
Actually after connecting with the last level of CC i got a call from  branch manager where account was opened
He first said Sorry for all matter and asked what has actually happened
And then what he asked was who was the person who opened ur account.
If it was me i would have obviously forget his name
But luckily my father remembered it
When i said his name, he said now he has left so we cant verify expressionless
Even after repeated tries of making him agree that there was mistake from both sides he didnt agree and so i understood nothing can be done and left the issue

ask your father to give a written application for closing the account and indicate the harassment faced as the reason for closing. they will at least immediately change the type of account, in order to retain the customer. in case your father in already a senior citizen, insist on the special benefits applicable to senior citizens

Missing
Deal Subedar
270
2947
40
Expand
isntitb149 wrote:

For me 811 is yet the best
No neft rtgs charges
Upi charges after 30 transactions a month
No min balance charges
Actually no charge yet

DBS Digibank is presently best out of the different banks me or my wife are having account with.
My primary account is with ICICI but also have accounts in Digibank, Axis, SBI, PNB and Syndicate bank. My wife has accounts in HSBC, Stan Chart and Bank of Maharastra.

Images
Deal Brigadier
73,102
83846
1151
Expand
panchabhut wrote:

regular account or Basic Service account?
for regular account, RBI mandates minimum number of free withdrawal per month which no bank can change. for basic service account, all ATM transactions are chargable.

i don’t know abt sbi bsbda acct but for regular sbi acct there few free txns/month after which there are charges.

Images
Deal Brigadier
73,102
83846
1151
Expand
isntitb149 wrote:

Savings account which has mab of 10k
Actually after connecting with the last level of CC i got a call from  branch manager where account was opened
He first said Sorry for all matter and asked what has actually happened
And then what he asked was who was the person who opened ur account.
If it was me i would have obviously forget his name
But luckily my father remembered it
When i said his name, he said now he has left so we cant verify expressionless
Even after repeated tries of making him agree that there was mistake from both sides he didnt agree and so i understood nothing can be done and left the issue

mail to head office.
+
which type of acct u deposited 5000?

Missing
Deal Subedar
270
2947
40
Expand
rajrocks wrote:

i don’t know abt sbi bsbda acct but for regular sbi acct there few free txns/month after which there are charges.

its for all banks as per RBI directions, not just SBI. no bank can charge from first withdrawal for regular accounts
https://m.rbi.org.in/Scripts/FAQView.aspx...75

Missing