New Delhi, 01 June (Agency). HDFC Bank and ICICI Bank have announced that they are implementing changes to credit cards and increasing security on banking services from 1st July. Both banks have informed their customers through official notifications about the relevant changes.
HDFC Bank has announced these changes to enhance user experience when accessing online gaming, digital wallet, and utility payments, thereby increasing the security of new transactions.
According to the notification, if any customer dreams of accessing the online skill gaming platform, they need to spend more than 10,000 rupees; thus, a calculated fee will be charged on each respective transaction. This fee will be 4,999 rupees more per thousand rupees spent.
Similarly, if any user utilizes the HDFC credit card on a platform such as a petrol pump, mobile, free charge, or Ola money, which loads a higher than 10,000 rupee amount in a month, then the entire fee of the system will cost 1 rupee per transaction, and this additional fee will also be 4,999 rupees per use. If utility payments on the HDFC platform exceed 50,000 rupees in a month, then a fee of 1 rupee per transaction will be levied for one transaction, and its additional masik will be 4,999 rupees.
However, HDFC Bank has clarified that the fee will not be increased on bill payments via utility payments; therefore, no additional charges will be levied under this calculation on any online tool detected by any relevant calculation.
ICICI Bank has also taken steps to enhance security for its debit card users, while also announcing additional masik structures in some categories. Under this scheme, security on the card will now be strengthened to offer seamless transactions with an additional masik.
For these changes, ICICI Bank has set the security masik on any transaction at 1 rupee per thousand rupees spent, with a maximum masik of 50 rupees, and an additional masik will be 15,000 rupees.
Consequently, when making transactions on authorized college or school websites, this masik amount will ensure the security of any transaction made.
ICICI Bank has added changes in some service categories, including shopping, checking demand draft (demand draft), and PIO (pre-order) transactions to enhance security.
Now, for these transactions, banks will charge customers 2 rupees per thousand rupees for masik, with a minimum masik of 50 rupees and a maximum masik of 15,000 rupees.
Before this, banks charged masik of 50 rupees on a masik rate of 10,000 rupees, and thus levied masik of 5 rupees per thousand rupees.
The ATM usage sometimes also indicates necessity. On the ATM of a new bank, additional withdrawal, ICICI will now charge a masik of 23 rupees and issue masik of 8.5 rupees per transaction. Additional masik withdrawals cost 21 rupees.
Besides this, ICICI Bank has made a masik increase from 200 rupees to 300 rupees for the debit card usage per varshik masik.
