ICICI Bank hiking ATM charges from January 1

[Sushubh]

Under the new method, the number of free transactions in a month is fixed at five using own ATMs, while it has been capped at three for other banks’ machines.
Customers can enjoy only five free transactions, including financial and non-financial, at the bank’s own automated teller machines (ATM), it said in a post on its website.
After exceeding the free transaction limits, customers will have to pay Rs20 per financial transaction excluding service tax and Rs8.50 for every non-financial transaction, it said.
For transactions at non-ICICI Bank ATMs, the number of free financial and non-financial transactions have been reduced to three per month at six metros of Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad, after which the customer will have to pay Rs20 for a financial transaction and Rs8.50 per non-financial transaction.
In case of usage in non-metro areas, a customer can enjoy five free transactions per month at non-ICICI Bank ATMs, after which the same charges apply, it said.

ICICI Bank to hike ATM charges from 1 January - Livemint

 

[ganesh177]

So its 5 at icici atm and 3 at non icici atm total of 8 per month ?

 

[moindear]

Banks should increase their staff now, people will start going to the banks.

 

[itzmynet]

Cash transactions at base branch (branches in same city) :

Nil for the first 4 transactions of a month; Thereafter in the month, Rs. 90 per transaction.

 

[moindear]

Jesus Christ. Need to open a new bank account in a nationalized bank

 

[Sushubh]

Most of you are on corporate accounts which should not have these limitations right?

 

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[Nishant]

I think corporate accounts only have the 0 balance advantage, nothing else.

 

[Sushubh]

Sucks

 

[vjprakashbe]

I think corporate accounts only have the 0 balance advantage, nothing else.

My corporate account is in citi for more than 10 years. I kind of use this account for anything without having any charges incurred till date. No limit on anything I do. The only thing I never did was going inside the branch and did any transaction but many people deposited cash from different states in this account but I haven't seen any charges levied on that. I can safely say EVERYTHING is free the way I handled this account in a decade.

 

[mhsabir]

Not sure if easily implementable, they should encourage by making

a) Cash withdrawals greater than 10k as non-chargeable
b) If we dont use other bank ATMs in the month, then 6th/7th/8th transaction at home bank will be refunded back.

 

[mhsabir]

Some banks have salary & premium salary accounts depending upon number of employees..

 

[Sushubh]

Banks should also pay us for not using the ATM and branches at all.

 

[moindear]

ICICI as corporate account sucks, no benefit other than zero balance. Same as opening an account in SBI, which is a better option

 

[Sushubh]

I am feeling super good about being a Yes Bank customer right now.