ICICI Bank, one of the leading private sector banks, has given good news to its customers. The bank has changed the charges for many of its services. This will be a big benefit for the bank’s customers, especially its credit card customers, and their out-of-pocket expenses will be reduced.
Higher charges on replacing credit card
ICICI Bank has said that it has changed the charges for many credit card services. These changes are going to be implemented from July 1, 2024. Some of these changes are going to benefit the customers, as the bank has abolished many charges. On the other hand, charges for some services have also been increased. The bank has increased the credit card replacement charge from Rs 100 to Rs 200.
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Here are some of the charges that ICICI Bank has announced to abolish for its credit card users from July 1:
1: Rs 100 fee for cheque or cash pick-up
2: Rs 100 fee for asking for charge slip
3: Minimum Rs 300 fee for Dial a Draft service
4: Outstation cheque processing fee (minimum Rs 100 or 1 per cent of cheque value)
5: Rs 100 charge for duplicate statement older than 3 months
Changes will be implemented from next month
According to the information given by ICICI Bank, now these 5 types of charges will not be levied on its credit card customers. The bank has discontinued the charges for these 5 services. These changes are coming into effect from the first date of next month i.e. 1 July 2024.
Relief on late payment penalty too
Another important change for ICICI Bank’s credit card customers is regarding the penalty levied on late payment. The bank says that in case of late payment, penalty will no longer be levied on customers based on the total outstanding amount. For this, the outstanding amount will be calculated by deducting the payment received during that period from the total outstanding of the respective billing period.
