Payments News


ICICI Bank Imposes 1% Charge on Rent Payments Through Credit Card

“ICICI Bank has increased the load on credit card holders by implementing a new scheme. On Tuesday, the private sector lender notified its clients via an SMS that a one per cent fee would be applied to any transactions made with their ICICI Bank credit card for the purpose of paying rent. This will be applicable from 20 October 2022. With this, it has become the first bank to charge customers who pay their rent with credit cards. This fee has been introduced to stop credit rotation through bogus rent payments.”