New Delhi:
From May 1st, IDFC First Bank, Yes Bank, and ICICI Bank are implementing new rules affecting credit card transactions.
Expect surcharges and increased maintenance fees, making credit card usage pricier.
Additionally, alterations in airport lounge access rules will come into effect.
Yes Bank changes MAB Requirements
Yes Bank announces alterations in the Minimum Average Balance (MAB) for various savings account variants. Changes include increased MAB thresholds, ranging from Rs 10,000 to Rs 50,000, with corresponding maximum charge limits.
These adjustments will be enforced starting May 1.
ICICI Bank revamps Service Charges
ICICI Bank introduces modifications in service fees,
including reduced annual fees for debit cards and charges for checkbook issuance.
IMPS transaction fees will also be revised, varying between Rs 2.50 to Rs 15 per transaction, contingent on the transaction amount.
The new fee structure will be implemented soon.
Utility Bill Payments via IDFC First Bank Credit Card to Incur Higher Charges
IDFC First Bank announces changes impacting utility bill payments made via credit card.
This adjustment will notably affect transactions related to telecommunications, electricity, gas, internet services, and more.
Exceptions apply to select credit cards. Alterations in lounge access rules at airports are also highlighted,
with reduced free domestic lounge access on certain credit cards.
