ICICI Bank revises charges on ATM transactions, cash deposits, cash withdrawals, IMPS and more

Jyoti — Tue, 24 Jun 2025 03:57:12 +0000

1 July 2025 : ICICI Bank has announced new service charges for its customers, which will be applicable from 1 July 2025. These changes will affect services like ATM transactions, cash deposit and withdrawal, IMPS, debit card and demand draft. Let us know what changes have been made.

New fees related to ATM

At ICICI Bank ATM: First 5 financial transactions will be free every month. After that, a charge of Rs 23 will be levied on every transaction.

Non-financial transactions (like checking balance) will be free.
No charges will be levied on senior citizen customers.
Charges at ATMs of other banks
3 transactions free in metro cities.
5 transactions free in non-metro cities.
After this, a charge of Rs 23 will be levied on financial transactions and Rs 8.50 on non-financial transactions.
International ATM
Rs 125 on cash withdrawal
Currency conversion charge 3.5%
Rs 25 on non-financial transactions
IMPS transaction charges
Transfer up to Rs 1,000: Rs 2.50 per transaction
Rs 1,001 to Rs 1 lakh: Rs 5
Rs 1 lakh to Rs 5 lakh: Rs 15
Changes in cash deposit and withdrawal
3 free cash transactions per month (at branches and CRMs).
After this, a charge of Rs 150 will be levied on every transaction.
For deposits above Rs 1 lakh, Rs 150 or Rs 3.50 per Rs 1,000 (whichever is higher) will be charged.
Third party deposit limit is limited to Rs 25,000 per transaction.
The same rules will apply to cash withdrawals – 3 free transactions, then Rs 150 per transaction.
Value-based charges will be levied on withdrawals above Rs 1 lakh.
The limit for third party withdrawals is also up to Rs 25,000 per transaction.
Debit card charges
Annual fee
Rs 300 for general customers
Rs 150 for rural areas
Rs 300 will be charged for replacement cards.

These new charges of ICICI Bank will affect those customers more, who make cash deposits, withdrawals or ATM transactions several times every month. Customers are advised to plan their transactions in advance so that additional charges can be avoided.

The post ICICI Bank revises charges on ATM transactions, cash deposits, cash withdrawals, IMPS and more first appeared on Rightsofemployees.com.

Why can’t you deposit more than Rs 10 lakh in your savings account in a year?

Jyoti — Wed, 18 Dec 2024 04:20:08 +0000

Do you also have a savings account? If yes, then this news is only for you. If you are depositing or withdrawing cash from your savings account, then you have to keep in mind the rules of the Income Tax Department. You cannot deposit more than a certain limit in your savings account.

According to financial experts, the total amount of cash deposited or withdrawn from a savings account in a financial year (April 1 to March 31) should not exceed ₹ 10 lakh. If this limit is exceeded, the bank will have to report this transaction to the Income Tax Department. Apart from this, under Section 269ST of the Income Tax Act, it is prohibited to receive cash of ₹ 2 lakh or more from any person in a day.

Informing the bank is mandatory

If cash deposits of ₹50,000 or more are made in a savings account in a single day, then PAN card details must be provided. If you do not have PAN, you will have to submit Form 60 or 61. According to Abhishek Soni, CEO and co-founder of Tax2Win, “Cash deposits of more than ₹10 lakh are classified as high-value transactions. The bank or financial institution has to report this transaction to the Income Tax Department under section “Payments made under section 114B”.

What to do with an income tax notice?

If you receive a notice from the income tax department for a high-value cash transaction, you should have sufficient documentation to support the source of the funds. This may include bank statements, investment records, or inheritance documents. Experts suggest that if you have any doubts about reporting a transaction, it is better to consult an experienced tax advisor.