Charmed with the advertisements and marketing, I decided to open a bank, account with ICICI Bank.
When I saw, that the bank has deducted the Rs. 800+ from my account, I wrote an email to customer care. They informed me the clauses that never brought to my knowledge when I applied for the new bank account. For the benefit of the customers, I am replicating the portion of reply.
The below mentioned charges are applicable only if the stipulated QAB is not maintained in your account
The non-maintenance of minimum AQB will attract a penalty of Rs.750 per quarter for a General Savings Bank Account.
In addition the below transaction charges are also applicable
For every new cheque book Rs.2 per leaf will be charged
First 3 cash transactions (withdrawals or Deposits) at the branch in a quarter will be free and thereafter Rs.50 per transaction will be charged
First 6 ATM cash (withdrawals or deposits) transactions in a quarter will be free and Rs.25 per transaction thereafter.
Service tax of 10.2% on the above said service charges are applicable.
I am sure, There will be other hidden cost for cheating the customers by ICICI banks. I request all of you to use your influence and get published in all notice boards, news papers, etc so that public is aware of this cheating.