ICICI Bank Hikes Fees Dec 1: Is Your Wallet Ready?

ICICI Bank is raising charges on demand drafts, cash transactions, and ECS debit returns from December 1. If you hold a salary or regular account with ICICI, some everyday banking tasks will now cost more — plus GST on top.

Here's what happened: ICICI Bank announced revised service charges covering cash transactions, demand drafts, and ECS debit returns, effective December 1.. All revised fees will attract GST on top, meaning the actual out-of-pocket cost for each charge is higher than the base fee listed.. Salary account holders are among those affected — free transaction limits and penalty charges on bounced auto-debits are part of the revision..

What you should do: Log in to ICICI iMobile or net banking and download your updated account terms/schedule of charges before December 1 to know your exact free limits.. Switch routine payments — utility bills, subscriptions, rent — to UPI or NACH mandates to avoid cash-transaction fees wherever possible.. Set a standing instruction to maintain a buffer balance 3–5 days before month-end so ECS or auto-debit instructions don't bounce and trigger the higher return charge..

Pro tip: ECS return charges hit twice — once by your bank, sometimes again by the biller. Keeping even ₹500 extra before auto-debit dates eliminates both penalties.