While buying milk from the shop near the house, while paying the electricity bill or to recharge the metro, you use Paytm. Due to the tremendous spread across the country, it has emerged as one of the most accepted payment options. This is the reason why you too make small and big transactions by adding money to Paytm with your credit card. With this you do not have to carry more cash, there is also no hassle of the holiday. However, this is important news for those who add money to Paytm Wallet with a credit card. The payment provider company has decided to charge a fee of 1.75% and GST for adding more than Rs 10,000 to a credit card in a month. The new rule may come into effect from December 30, 2019.
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According to the information given on the website of https://www.paytmbank.com/, if a person adds a credit card up to Rs 10,000 in a calendar month, then there is no need to pay any kind of fee. However, if he has to add more than Rs 10,000 he will have to pay this fee. First case - If you add Rs 12,000 to a wallet in a calendar month with a credit card, then the entire Rs 12,000 will be charged. This means that you will have to pay an extra Rs 240. In this way, Rs 12,240 will be deducted from your credit card but only Rs 12,000 will be seen in the wallet. After this, you will also have to pay a fee for other transactions.
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Second case - If you have done many transactions but the total amount is less than Rs 10,000 then you will not have to pay any fee. For example, if you add Rs 1,000 first and then add Rs 2,000, then there is no charge. Now here, if you have to add Rs 7,000 more, then you will not have to pay any fees, but after adding Rs 7,001, the entire amount will be charged. Subsequent transactions will also be charged at the same rate. Currently, you do not have to pay any kind of fee for similar purchases from a merchant. On Paytm payment bank transfer from Paytm Wallet, you have to pay a fee of five percent. Apart from this, even after transferring money from Paytm Wallet to a bank account, you have to pay 5% of the fees.
