Wednesday, October 10, 2007

ICICI account holders can use any ATM

Long queues in front of all the ICICI ATMs have become a regular sight now a days. Its really a waste of time to wait in those serpentine lines to take out 500 bucks and if at all we are in a hurry it's not the right place you can go to withdraw money. In stark contrast to ICICI ATMs all other banks' ATMs are relatively deserted and are found highly under utilised.

Do you know that an ICICI account holder can use any banks' ATM to withdraw money? ICICI will revert the service charges charged by those banks back to your account, provided you maintain a quarterly balance of Rs 5000/- Rs 10,000/-.

From now onwards, if you are confident of maintaining the minimum balance, instead of choking the ICIC ATMs try withdrawing money from ATMs of banks which are the likes of Corporation Bank, Karnataka Bank, Bank of Baroda, South Indian Bank, Federal Bank etc. Distribute the usage and save loads of time.

I think ICICI should advertise this service of theirs more effectively by putting up posters in front of all their ATMs.


The Noob Blogger said...

Well, I'm an ICICI user too, so this was great news...

I called ICICI to verify...

The guy there starts telling me that I can withdraw from 25 partner banks. Here are some of the main partner banks.

(Andhra bank, Allahabad bank, Dhanalakshmi corp bank, Oriental bank of commerce, KVB, Tamilnadu mercantile bank, Punjab national bank, United western bank, J&K bank.)

But he also mentioned that there was a fee...
To check your balance Rs. 10
To withdraw cash Rs. 20
with a 12.36% tax amount on the service fee.

Non partner banks (SBI, Citibank, etc...) had a different fee:
To check your balance Rs. 25
To withdraw cash Rs. 60
with the same 12.36% tax.

Then as I'm about to say thank you and disconnect, the says, that if I maintain a quarterly balance of Rs. 10,000 (not the usual balance of Rs. 5,000) then usage from all ATMs will be free...

Unknown said...

Oh ok. so its Rs 10000. i will update the post. sad that the executive wasted your time. He could just told you the last line first itself. :-)