POSDEC charge in ICICI Bank

ICICI Bank is one of prestigious private sector Bank in India. The ICICI Bank’s mobile application is one of the Best Mobile banking application among Indian Banks. In this article about POSDEC charge in ICICI Bank. The customer are charged for POS decline transaction in ICICI Bank. The ICICI Bank tries to offer best Banking service to it’s customer. The ICICI Bank is 2nd largest private Bank based on market Capitalization.

POSDEC CHG means Point of Sale Decline Charge. When the customer tries for POS transaction via Debit card, but sometime because of less transaction, the transaction declined. The POSDEC charge in ICICI Bank levied on this declined Transaction.

If you are planning to open Bank account with any Bank then you should know about charges on Saving or current account. Sometime you will find hidden charges in your account statement. The customer should check their account statement to know about each and every financial transaction in your Bank account.

POSDEC charge in ICICI Bank

POSDEC charge in ICICI Bank

There can be lot’s of reason for POSDEC CHG in ICICI Bank. The POS declined transaction happen when there is insufficient balance in their Bank account. There can be network issue with POS machine. Even there can be server issue with the Bank offering POS machine. The customer can keep watch on their account balance before swiping POS Machine. If the customer enter wrong password then the POSDEC CHG levied in Bank. But How customer can check webserver status and network issue of POS machine?

Note : ICICI bank charge for every POSDEC transaction. The ICICI Bank committed to provide best banking service to the customer.

Even ICICI Bank tries to decrease number of failed banking transactions. The POSDEC CHG create negative impact on customer. The customer are charged for SMS banking in Most of Indian Banks. There is no issue with SMS Banking Charges. When I searched for POSDEC CHG, I find lot’s link where customer claiming that they were charged POSDEC CHG serval Time. The customer can reverse POSDEC charge in ICICI Bank by contacting ICICI Bank customer care.

Also Read, ICICI FInnone CAPS login Details

How to avoid POSDEC CHG?

The customer should check account balance in ICICI Bank before swiping the POS Machine. You can use your regular credit card for the POS machine Transaction. Customer should check their entered Debit card PIN before processing transaction. Small habit will create bigger impact!

Customer are charged Rs 28.75 for POSDEC CHG. Customer need to check their account statement to check unnecessary charges. You can complaint against hidden charges in the Bank. IF you wanted to know about ICICI bank’s service charge click here.

My Opinion on POSDEC CHG

I am customer of ICICI bank. I am using ICICI bank from last 6 years. But never charged for POS failed transaction. I use credit card of ICICI bank. Serval time, because of network issue the POS transaction declined. But never charged POSDEC CHG in ICICI Credit card.

Even I like to take precaution while using ICICI Debit card. I cross verify my entered debit card Pin before processing the POS transaction. Like me, you can avoid POSDEC CHG.

Also Read, ICICI Bank RTGS Form PDF

Conclusion

Customer don’t like hidden charges in their Bank account. The customer should verify details related to account charges before opening account in any Bank. The ICICI Bank’s POSDEC CHG levied on failed POS machine transactions. The POSDEC charge in ICICI bank is Rs 28.75 per failed POS transaction. So there may be chance that you find multiple POSDEC CHG in one account statement.

Personally, I am customer of ICICI bank. I like Banking service of ICICI Bank. I never experienced POSDEC CHG in my bank account. For bigger transactions, I prefer my ICICI Bank’s credit card. Use carefully your debit card to avoid POSDEC charge in ICICI Bank.