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HDFC and ICICI Banks to Impose Capped Fees on Online Gaming, Wallet and Utility Payments

Eager to recoup rising processing costs, banks have imposed capped fees that could further constrain online gaming already subject to a 28% GST.

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Overview

  • HDFC Bank will levy a 1% fee on monthly online skill-based gaming spends above ₹10,000, capped at ₹4,999 with no reward points earned.
  • The lender will also charge 1% on third-party wallet top-ups over ₹10,000 and on utility payments beyond ₹50,000 per month while exempting direct education payments.
  • ICICI Bank has raised Demand Draft and Pay Order fees to ₹2 per ₹1,000 (minimum ₹50, maximum ₹15,000) and ATM interchange fees to ₹23 for financial and ₹8.50 for non-financial transactions after freebies.
  • ICICI has increased debit card annual and replacement fees to ₹300 and has informed customers that all revised charges will take effect on July 1, 2025.
  • The All India Gaming Federation warns the levies could further squeeze online gaming wallets already taxed at 28% GST and is pressing for tax reform and self-regulation.