HDFC, ICICI to hike banking charges and credit card fees: What you need to know
Banking Charges: Several banks, including HDFC and ICICI, have announced increased credit card charges. Additional fees will apply to transactions like online gaming, digital wallet, and utility payments.
Credit card charges
Bad news for bank customers. Credit card charges are going up. Many people rely on credit cards, and almost everyone makes online payments.
Increased fees
Banks announce increased fees for services. Increased costs for online gaming, digital wallets, and utility payments.
Gaming fees
1% charge on monthly spending over Rs 10,000 on online skill-based gaming platforms. Gaming fees capped at Rs 4,999 per month, no reward points offered.
Utility payments
Insurance payments not considered utility payments, no extra charges apply. Max charge for rent, fuel, education revised to Rs 4,999; 1% rent payment charge unchanged.
Educational payments
No charges for direct education payments via official websites or card machines. HDFC Bank and ICICI Bank have changed their charges.
ICICI Bank:
Rs 23 charge after three free ATM transactions, Rs 8.5 for non-financial transactions. ICICI Bank increases annual debit card fee from Rs 200 to Rs 300.
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