ICICI Bank Alert: New Service Charges on ATM, Cash Withdrawals & Int'l Transactions Effective from July 1st

ICICI Bank, one of India's leading private sector banks has officially announced a revision of various service charges, which will take effect from July 1, 2025. These changes span across a broad range of banking services including ATM usage, cash deposits and withdrawals, IMPS (Immediate Payment Service) transactions, demand drafts, and debit card-related services. The updated fee structure is aimed at streamlining operational costs while encouraging digital banking usage.

ICICI Bank Revised Service Charges

Here is a detailed breakdown of the changes, particularly regarding ATM transactions:

Customers using ICICI Bank ATMs will still enjoy five free financial transactions per month, which includes cash withdrawals, fund transfers, and other monetary transactions. After exceeding the free limit, every additional financial transaction at an ICICI Bank ATM will now attract a charge of Rs 23 per transaction. However, all non-financial transactions-such as balance inquiries, PIN changes, or mini statements-will remain free regardless of the number of times used.

Importantly, senior citizen account holders are fully exempt from these charges and can continue using ICICI Bank ATMs without any restrictions or fees, offering them greater financial convenience.

Latest Bank Transaction Charges

For customers using non-ICICI Bank ATMs, ICICI Bank has introduced a revised transaction structure that varies based on location. In metro cities, customers will now be entitled to three free ATM transactions per month, whereas in non-metro areas, they will receive five free ATM transactions per month. These free transactions include both financial such as cash withdrawals and non-financial such as balance enquiry or mini statement services.

Once a customer exceeds the allowed number of free transactions in a given month, each additional financial transaction at other bank ATMs will incur a charge of Rs 23, while each non-financial transaction will cost Rs 8.50. This fee structure has been designed to optimise ATM usage and operational costs. However, senior citizens are fully exempt from these charges, regardless of location or the number of transactions made.

In terms of international ATM usage, ICICI Bank will charge Rs 125 for every cash withdrawal made with an ICICI debit card at foreign ATMs. Additionally, the bank will impose a currency conversion charge of 3.5% on the total transaction amount. For non-financial transactions such as balance checks at international ATMs, customers will be charged Rs 25 per transaction. As with domestic transactions, senior citizens are exempt from all international ATM charges, making the policy more inclusive and senior-friendly.