If you are a credit cardholder of this bank and pay the rent through your credit card only, then you will now have to pay extra charges. You will have to pay 1% extra fee for paying rent by credit card. This new fee will be applicable from 20th of next month i.e. 20th October, 2022.
ICICI Bank Credit Card Charges: There is a big update for the customers of the private bank ICICI Bank. If you are a credit cardholder of this bank and pay the rent through your credit card only, then you will now have to pay extra charges. The bank has informed such cardholders by messaging on their registered mobile number. According to this new rule, you will have to pay 1% extra fee for paying rent by credit card. This new fee will be applicable from 20th of next month i.e. 20th October, 2022.
In the message, the bank has said that “Dear Customer, starting October 20, 2022, there will be a fee of 1% on every transaction of your ICICI Bank credit card rent payment.”
With this ICICI has become the first bank to introduce such fees. The bank has more than 1 crore credit cardholders across the country.
There are many cardholders who pay rent with their credit cards on platforms like RedGiraffe, Mygate, Cred, Paytm and Magicbricks. These platforms charge a service fee from them for this. Users have to provide credit card details for this. After this, by going to the rent payment option, the payment has to be made by entering your name, bank account number, IFSC code or UPI address and the details of the landlord’s address.
These platforms charge anywhere between 0.4% to 2% on every payment. Including this charge, when your bill is generated, ICICI Bank will levy 1% fee on this transaction.
