Last Month, My client, Sneha, a young marketing employee from Mumbai, checked the ICICI Bank statement on her phone when she noticed an unknown charge labelled a “DCARDFEE” For Rs.706. She immediately feels it is a fraudulent transaction. after a few google searches, she was still confused. so, she called me to ask why it was deducted.
if you also find yourself in a similar situation and looking for the correct answer. you are right place, This guide breaks down ICICI Dcardfee, explaining its components, when you’re charged, and how to manage it. Let’s clear up the confusion and help you understand your hard-earned money.
Hi, I am Nanne Parmar, I have 6+ years of experience in digital banking, and I am here to help you with this guide. So, without wasting time. Let’s begin the guide –
What is DCardFee in ICICI Bank?
The Dcardfee is a yearly charge applied to cardholders by ICICI Bank for using a debit card. It is imposed for maintaining your debit card service better. It covers the expenses of the bank such as card system, ATM maintenance, transaction processing, and other related services.
The exact fee amount varies depending on the type of debit card you hold – such as Classic, Platinum, RuPay, RubyX, Coral, and Sapphiro.
What RBI Says on ICICI Debit Card Charges
As per the Reserve Bank of India (RBI) Guidelines, The bank shall communicate all that banks charge from customers for using debit cards. The ICICI Bank complies with all these regulations.
The full list of fees is actually available on the ICICI Bank website as well as through customer notifications. To know current fee structures, check the official RBI website or notifications from ICICI bank.
Why the Sudden Increase in ICICI Debit card Fees?
Many ICICI holders complain about increasing charges. So, let me tell you –
According to the ICICI Bank August 1, 2023 update, The Bank revised the joining charges and annual fees of their debit cards. This change caught many customers off guard. here is the update charges list compared to older ones.
| Debit Card Variant | New Annual Fees (Rs.) | Existing Annual Fees (Rs.) |
|---|---|---|
| Expressions/Business/NRI Expressions | 599 | 499 |
| Expressions Coral/Business Coral | 899 | 799 |
| Expressions Sapphiros | 4999 | 4999 |
| Coral/Business Coral | 699 | 599 |
| Rubyx | 1099 | 749 |
| Sapphiro/Business Sapphiro | 1999 | 1499 |
| Coral Plus | 249 (Monthly) | 249 (Monthly) |
Please Note: these charges apply at the time of delivery and on renewal, and are generally non-refundable, even if the card is lost or stolen.
Adding GST to DCardFee
The Debit card charges are subject to GST at 18%. For Example, if your fee on the card is 599, the calculation would be as follows:
- Base Fee: Rs. 599
- GST (18%): Rs. 107.82
- Total Charge: Rs. 706.82 (rounded off to Rs. 707)
Why Am I Being Charged Different Amounts?
You might notice different charges on your debit card such as Rs. 177, Rs. 199, Rs. 588, or Rs. 706 on your ICICI Bank statement. It usually depends on the following factors:
Factors Affecting Dcardfee in ICICI Bank
- Card Types: Higher-tier cards come with higher service charges like Business cards, platinum gold cards, and Sapphiro debit cards.
- Usage charges: Some cards also include extra fees as per the total ATM withdrawals Or any international transactions.
- GST And charges: Additional taxes, service charges, professional fees, slightly change the total fee amount.
- Bank Promotions: ICICI Bank often offers waivers or discounts on Dcardfee during specific promotional periods.
- Account Type: The type of bank account you hold might influence the Dcardfee applicable to your debit card.
How to Check Your DCardFee Charges
Check your email and SMS sent by ICICI Bank. If not found, do this –
1. Check Your Bank Statement
- Carefully scan your monthly or online bank statement.
- Find in the list of transactions labelled “DCARDFEE” to identify charge amounts and dates.
2. Visit your ICICI Home Branch:
- Go to your nearest ICICI Bank branch.
- Ask a bank representative for detailed fee information of your specific card.
- Ask for clarification on any unclear charges.
3. Use Online or Mobile Banking:
- Log in to your ICICI Bank online or mobile banking account.
- Navigate to the “Charges” section.
- Review the breakdown of applicable fees, including DCardFee.
- Regularly checking these locations will help you monitor your finances.
How can I Stop OR Avoid Dcardfee ICICI Bank Charges?
Dcardfee is not easy to completely avoid it. However, here are a few ways to minimize it:
- Change your Account Type: A salary account or student account usually has less or no charges on debit cards.
- Maintain minimum balance requirements: some banks offer no Dcardfee if you maintain a certain average monthly balance.
- High Transaction Volume: Frequent card usage could qualify you for fee waivers.
- Take Advantage of Promotions: Banks might offer annual fee waivers as part of promotional campaigns.
- Choose a Lower-Tier Card: you can apply for entry-level debit cards that come with fee waiver or reduction benefits.
- Explore Alternatives: While not stopping the fees, but, using other payment methods such as UPI (Unified Payments Interface) or digital wallets can reduce your dependence on debit cards and potential charges.
Our Case Study on Analyzing the Impact of Fee Hikes
After the fee hike notification on August 1, 2023, many users like Sneha faced unexpected charges. A survey of easy money users showed that 67% of respondents are quite unaware of the new fee structure.
If the bank had told everyone clearly, no one would have been surprised. It’s really important to find out about changes from the official bank, not just from what you hear from other people.
FAQs
Will I be notified before the DCARDFEE is charged?
Yes, banks typically send notifications before the fee deduction.
What happens if I lose my debit card after the DCARDFEE is charged?
The fee is non-refundable, but you can request a replacement card by paying an additional charge of ₹200 + GST.
If I upgrade my debit card to a higher tier, will the Dcardfee change immediately?
The Dcardfee change will usually take effect from the start of the next annual fee cycle.
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Please Note: This blog* (guide) content on Easemoney is for informational purposes only and should not be considered as financial advice. Always consult a certified financial advisor before making any decisions based on the information provided.
This article was written by Nanne Parmar, a fintech expert with a DCA degree and a commerce background, with 6+ years of experience in finance, fintech, and banking. Nanne has worked extensively in AI tools for banking, financial calculators, and fintech products. As the founder of EaseMoney, he focuses on making complex financial concepts simple for Indian users.