HDFC and ICICI Bank made a big announcement, from July 1, charges will increase on many banking services including credit card..

Major private banks like HDFC Bank and ICICI Bank have decided to increase the charges on credit cards and banking services from July 1. Both the banks informed their customers about these changes through official notifications. HDFC Bank has announced new charges for credit card users, especially for transactions related to online gaming, digital wallets, and utility payments.

According to the bank's notification, if a customer spends more than Rs 10,000 in a month on online skill-based gaming platforms like Dream11, Rummy Culture, Junglee Games, or MPL, he will be charged 1 percent of the total monthly expenditure in this category. This fee will be limited to Rs 4,999 per month. Additionally, no reward points will be given on such gaming transactions.

Similarly, if a customer loads more than Rs 10,000 in a month into a third-party wallet like Paytm, Mobikwik, Freecharge, or Ola Money using his HDFC credit card, then a 1 percent fee will be charged on the entire amount used by him. This fee will be a maximum of Rs 4,999 per month. For utility payments, if the total expenditure exceeds Rs 50,000 in a month, a 1 percent fee will be charged and its maximum monthly limit will be Rs 4,999.

However, HDFC Bank has clarified that insurance payments will not be considered utility payments, so no additional charges will be levied in such cases. The bank has also revised the maximum charges for rent, fuel, and education transactions. The maximum limit of charges in these categories will now be Rs 4,999 per transaction. There is no change in the 1 percent fee on rent payments. Fuel transactions of more than Rs 15,000 will be charged 1 percent, while education payments made directly through the official college or school website or their card machines will not be charged.

ICICI Bank has changed several service charges, including transactions such as cash, check deposits or DD (demand draft) and PO (pay order). Now customers will be charged Rs 2 per Rs 1,000 for these transactions, with a minimum charge of Rs 50 and a maximum charge of Rs 15,000. Earlier, the bank used to charge Rs 50 for an amount up to Rs 10,000 and Rs 5 for Rs 1,000 above that.

ATM usage charges have also been increased. After three free ATM transactions at other bank ATMs, ICICI will now charge Rs 23 for financial transactions at ATMs and Rs 8.5 for non-financial transactions. Currently, the charge for financial transactions is Rs 21. Apart from this, ICICI Bank has increased the annual fee for debit cards from Rs 200 to Rs 300.

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