Following the trend set by other banks, ICICI Bank will hike ATM transaction charges for savings accounts, which will effective January 1, 2015.
Recently, the Reserve Bank of India notified that if you use your ATM more than 5 times at your own Bank ATM or more than 3 times per month at another bank's ATM, you would be levied a charge of Rs 20.
The charge is excluding service tax and Rs 8.50 for every non-financial transaction for each time you use ATM beyond the stipulated limit.
However, these guidelines are applicable to the six metropolitan cities of Delhi, Mumbai, Chennai, Bangalore, Kolkata and Hyderabad
ATM transactions include, Cash withdrawal, balance inquiry, mini statement, cheque book request.