From Sunday, ICICI Bank will start charging a ₹50-convenience fee for cash deposits by customers in cash recyclers during non-business hours and bank holidays.
The bank had communicated the introduction of the new fee last month.
The fee will be charged for cash deposits/transactions at ATMs on bank holidays and between 6:00 pm and 8:00 am on working days.
It will be applicable if the deposit in the cash acceptor/recycler machines exceeds ₹10,000 per month, either as a single transaction or multiple transactions.
It will not be applicable to senior citizens, basic savings bank accounts, Jan Dhan accounts, accounts held by incapacitated and visually impaired persons, student accounts or any other accounts identified by ICICI Bank.
Axis Bank had introduced a similar fee for cash deposit transaction after banking hours (or between 5:00 pm and 9:30 am).
Published on November 1, 2020
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