Private banks in India, including HDFC Bank and ICICI Bank, have announced changes to their credit card transaction fees, effective July 1, 2025. HDFC Bank has introduced new charges on online skill-based gaming transactions, wallet loading, and utility transactions. For online gaming transactions exceeding Rs 10,000 per month, a 1% charge will apply, capped at Rs 4,999 per month. Similarly, wallet loading transactions above Rs 10,000 per month will incur a 1% charge, capped at Rs 4,999 per month. Utility transactions exceeding Rs 50,000 per month will also attract a 1% charge, capped at Rs 4,999 per month. Notably, insurance transactions will not be considered utility transactions and will not incur any charges.
In addition to these changes, HDFC Bank has revised the maximum charge per transaction for rent, fuel, and education categories to Rs 4,999. The existing 1% charge on rent transactions will continue, while fuel transactions exceeding Rs 15,000 per transaction will incur a 1% charge. Education transactions made through college or school websites or point-of-sale machines will not be charged.
ICICI Bank has also revised its charges for various services, including demand drafts, pay orders, ATM transactions, and debit card fees. The charges for depositing cash, cheques, and transferring demand drafts and pay orders have been revised to Rs 2 per Rs 1,000, subject to a minimum of Rs 50 and a maximum of Rs 15,000. The charges for ATM transactions have been increased to Rs 23 per financial transaction and Rs 8.5 per non-financial transaction, post three transactions. The annual fees for debit cards have been raised from Rs 200 to Rs 300, and the replacement card fees have been increased from Rs 200 to Rs 300.
These changes are likely to impact customers who frequently use their credit cards for online gaming, wallet loading, and utility transactions. Customers who exceed the specified transaction limits will incur additional charges, which could add up to significant amounts. It is essential for customers to review their transaction habits and adjust their spending accordingly to avoid incurring these charges. Additionally, customers should be aware of the revised charges for ATM transactions, debit card fees, and other services to avoid any unexpected expenses. Overall, these changes reflect the banks’ efforts to increase revenue and manage their costs, but may also lead to increased costs for customers.