ICICI Bank: Banking with them gets expensive

It can be quite expensive remaining a long term customer with ICICI Bank especially if you do not know all the charges they apply on their services.

It just got a bit more complicated as the bank has now raised the fines and penalty charges. For customers who do not maintain quarterly average balance (QAB), the bank would charge them Rs 50 per transaction instead of Rs 25 per transaction earlier.

These charges are however applicable after they avail five free ATM transactions as against the earlier six during a quarter.

If you apply for PIN Number regeneration from the bank, they would charge you Rs. 25 for it. In addition, ICICI would now charge Rs 350 for an inward cheque return. Of course, these charges are additional to the regularly applied 12 per cent service tax and 3 per cent educational cess.

The bank also incidentally charges Rs 200 from the customer to deliver them monthly bank statements. And they would deduct Rs. 750 from your bank account if you do not maintain the minimum average of Rs 5,000 per quarter.

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