From July 1, 2025, many big banks of the country have changed the charges levied on their banking services. ICICI Bank, Axis Bank, Federal Bank and HDFC Bank have increased the fees on ATM withdrawals, IMPS, Demand Draft (DD) and other services.
Earlier in May, some government banks had also changed their transaction charges as per the new guidelines of RBI. Now many private banks have also joined it. This will have a direct impact on the pockets of common customers, especially those who use ATM several times every month.
ICICI Bank’s new charges: Increased expenses on ATM, IMPS, demand draft
ICICI Bank has informed its customers that from July 1, charges have been increased on services like ATM, IMPS and DD. Up to 3 transactions are free every month in metro cities (Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore). Up to 5 transactions will be free in non-metro cities. After this, you will have to pay Rs 21 every time you withdraw money and Rs 8.50 on non-financial transactions like balance check or mini statement. 18% GST will be levied separately on these charges.
Making a demand draft has also become expensive now
If you make a demand draft (DD) or pay order (PO) in ICICI Bank through cash, cheque or transfer, then now you will have to pay more charges for it than before. Under the new rule, the bank has fixed a charge of ₹50 on an amount up to ₹10,000. On the other hand, if the amount of the draft is more than ₹10,000, then a charge of ₹5 will be taken for every ₹1,000. However, the minimum charge will be limited to ₹75 and the maximum to ₹15,000. The bank has also fixed concessional rates for senior citizens, students and customers of branches in rural areas.
Transactions of NEFT and RTGS from branch became expensive
ICICI Bank customers will have to pay charges according to different slabs for doing NEFT and RTGS through branch. If you go to the branch and do NEFT, then you will have to pay ₹2.25 for transactions up to ₹10,000, ₹4.75 for transactions up to ₹1 lakh, ₹14.75 for transactions up to ₹2 lakh and ₹24.75 for transactions up to ₹10 lakh. For RTGS transactions, a charge of ₹20 will be levied on amounts from ₹2 lakh to ₹5 lakh. The good thing is that if you do NEFT or RTGS online, then you will not have to pay any charge on it.
If you send money through IMPS, then you will also have to pay a charge according to the transaction amount. In ICICI Bank, you will have to pay ₹2.50 for sending an amount up to ₹1,000, ₹5 for up to ₹25,000 and ₹15 for an amount up to ₹5 lakh. These charges have been implemented from 1 May 2024.
Withdrawing money from ATM abroad is expensive
If you are travelling abroad and withdraw money from an ATM, ICICI Bank will now charge Rs 125 and 3.5% currency conversion charge on every transaction. Rs 25 will have to be paid separately for non-financial transactions. Senior citizens will be exempted from these charges.
Axis Bank ATM charges increased, you will have to pay extra money on every transaction
Axis Bank has also updated its ATM transaction charges. Now only 3 transactions will be free every month in metro cities, while in non-metro cities, up to 5 transactions will be exempted. After this, if you withdraw money from ATM, then you will have to pay ₹ 23 on every financial transaction and ₹ 10 to ₹ 12 on non-financial (like balance check or mini statement) transactions.
Charges will be levied for withdrawing money from Federal Bank ATM after the free limit
If Federal Bank customers withdraw money from another bank’s ATM and their free transaction limit is exhausted, they will now have to pay ₹23 for every financial transaction and ₹12 for non-financial transactions. However, if the transaction is done from Federal Bank’s own ATM, no charges will be levied. Apart from this, if the transaction fails due to insufficient balance in a customer’s account, an insufficient balance charge of ₹25 will be levied on it.
Keep these things in mind while using ATM
Banking services have become expensive from July 1. If you frequently withdraw money from ATM or use banking services more, it would be better to plan the transaction and keep in mind the free limit. Apart from this, NEFT and RTGS through online channels are free, so adopting digital methods will be beneficial. In such a situation, keep in mind the transaction limit and new charges while using ATM, otherwise it will affect your pocket. Get complete information from your bank’s website or branch in time.
Most Read Articles:-
- New rule for SIM card, fake numbers will be blocked through AI, DoT has made big preparations
- Delhi govt withdraws fuel ban on old vehicles, no more seizures at petrol pumps
- Job Cut Alert: Microsoft cuts 9,000 jobs in latest round of layoffs amid restructuring push
- Bank of Baroda FD: Deposit ₹ 2,00,000 in Bank of Baroda and get fixed interest of ₹ 47,015 with guarantee – know details
- Finance Ministry announced the interest rate for GPF July to September quarter; check details
