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ICICI Bank to levy fee of Rs 50 for cash deposits by customers in cash recyclers during non-business hours and bank holidays

"Effective November 1, 2020, a convenience fee of Rs 50 per transaction, will be levied on cash deposited in the cash acceptor or recycler machines on bank holidays and between 6:00 pm and 8:00 am on working days".

November 01, 2020 / 04:11 PM IST
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ICICI Bank will levy charges of Rs 50 as convenience fee on customers doing cash deposits at ATMs during non-business hours and bank holidays. Customers will be charged for every such transaction done on bank holidays and between 6:00 pm and 8:00 am on working days.

ICICI Bank said: "Effective November 1, 2020, a convenience fee of Rs 50 per transaction, will be levied on cash deposited in the cash acceptor or recycler machines on bank holidays and between 6:00 pm and 8:00 am on working days".

If the cash deposit in the cash acceptor/recycler machines is more than Rs 10,000 per month either as a single transaction or multiple transactions, the bank will also levy a convenience fee.

The bank said, "The fee will not be applicable to senior citizens, basic savings bank account, Jan Dhan accounts, accounts held by incapacitated and visually impaired persons, student accounts or any other accounts identified by ICICI Bank".

Earlier this year, Axis Bank had already started levying the charge of Rs 50 on its customers as a convenience fee on cash deposit transaction done after banking hours (or between 5:00 pm to 9:30 am) and on national and State bank holidays. The convenience fee was effective August 1.
Moneycontrol News
first published: Nov 1, 2020 01:15 pm

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