ICICI Bank plans to charge customers for redeeming points on cards

ICICI Bank, India's largest private sector bank is planning to charge its customers on reclaim their points collected on credit and debit cards. On every redemption request for the collection of payback points earned on credit card, debit card or my saving reward customers will be charged now. The service charge plus Tax will be levied from the card users from June 12, 2014 onwards. The bank would be charging Rs 99 plus service tax on any catalogue based redemptions and Rs 25 plus service tax will be charged on any online or in-store redemption made by the customer. ICICI Bank has 3753 branches and extension counters and 11,336 ATMs spread across the country. The Bank services its large customer base through a multi-channel delivery network of branches, ATMs, call center and internet banking.