The customers of the ICICI bank will have to pay more while withdrawing cash from international locations. All the ATM cash withdrawals at the international locations will be costlier by 17 percent by the middle of this month.
ICICI Bank in a notification told its customers, “With effect from September 15, 2012 ATM cash withdrawal fee at international location will be increased from Rs 107 to Rs 125”. The bank also said that the service tax and the other terms and conditions would continue to be applicable to this fee.
When asked an official from the bank, it was revealed that the latest revision in the rates are being affected to offset a hike in overseas partner banks/financial institutions fees for this type of service. Meanwhile the other leading private banks like HDFC, Axis Bank and Kotak Mahindra charge their customers a fee ranging from Rs. 110 to Rs. 125 per transaction for ATM cash withdrawals at the international location.
While the others like ING King Vysya charges its debit card holders the rupee equivalent of $2.5 per withdrawal. But the charges of this sector are higher for some of the public sector banks as compared to the private sector banks. The Bank Of Baroda customers have to pay Rs. 200 per withdrawal.