Starting July 1, major private banks like HDFC Bank and ICICI Bank will increase fees on credit cards and other banking services. HDFC Bank notified its customers about new charges, especially on credit card spending related to online gaming, digital wallets, and utility payments.
If a customer spends over Rs 10,000 in a month on online skill-based gaming platforms like Dream11, Rummy Culture, Junglee Games, or MPL, HDFC will charge 1% on the total amount spent in this category.
This fee will be capped at Rs 4,999 per month, and no reward points will be given for these gaming transactions.
Similarly, if a customer loads more than Rs 10,000 in a month onto third-party wallets such as Paytm, Mobikwik, Freecharge, or Ola Money using an HDFC credit card, a 1% charge will apply on the total amount, again capped at Rs 4,999 monthly.
For utility bill payments exceeding Rs 50,000 in a month, a 1% fee will be charged, with the same maximum limit.
HDFC Bank clarified that insurance payments will not be included under utility payments, so no extra charges will apply for those. The bank has also updated maximum fees for rent, fuel, and education payments.
Charges on rent will remain at 1%, with a maximum Rs 4,999 per transaction. Fuel transactions over Rs 15,000 will have a 1% fee, while education payments made directly on official school or college websites or their card machines will remain free of charges.
ICICI Bank Increases Service and ATM Charges
ICICI Bank has revised several service fees. For transactions such as cash deposits, cheque deposits, demand drafts (DD), and pay orders (PO), customers will now be charged Rs 2 for every Rs 1,000, with a minimum fee of Rs 50
and a maximum fee of Rs 15,000. Previously, the charge was Rs 50 for amounts up to Rs 10,000 and Rs 5 for every additional Rs 1,000.
ATM usage charges have also gone up. After three free transactions at other bank ATMs, ICICI will charge Rs 23 for financial transactions (up from Rs 21)
and Rs 8.5 for non-financial transactions. Additionally, the annual fee for ICICI debit cards has increased from Rs 200 to Rs 300.