Paytm’s New Charges: Pay 1.75% Extra For Adding Money Via Credit Card; 5% Extra For Sending Money To Bank A/c From Wallet
One of the leading online payment systems, Paytm, has now released a list of charges that will be applicable for all transactions that you do to add money to your Paytm wallet.
Recently, Paytm announced that there will be additional charges if you add more than Rs. 10,000 to your Paytm wallet using a credit card.
Find out about all the charges that will be applicable to you, as announced by Paytm, right here!
Paytm’s New Charges For Using Credit Card
Paytm has announced that any transactions that are less than the amount of Rs. 10,000 will have no charges. If there are any transactions that are more than Rs. 10,000, you will be charged an extra fee of 1.75% and additional GST as well.
If the total money you add to your Paytm wallet with a credit card, including current transaction, is more than Rs. 10,000, then the entire amount will be charged with 1.75% and GST too. For example, if the total amount you add is Rs. 12000, the total amount that would be deducted from your bank account is Rs. 12,240, but the amount added to your wallet will be Rs. 12,000 only. All the subsequent transactions will be charged accordingly.
How These New Charges Will Apply?
If you carry out multiple transactions that are of a cumulative amount that is more than Rs. 10,000, then your first few transactions will not be charged. For example, if the first transaction is of Rs. 1000, the second one is of Rs. 2000, then neither of them will be chargeable. If you add Rs. 7001 to your Paytm wallet, the whole amount will be charged. All the subsequent amounts will be charged too.
You can avoid these charges if they are added by using a debit card and UPI and any other method other than a credit card. If you are purchasing anything at merchant site and transferring money Paytm to Paytm, no charges will be applicable.
If you are transferring money from Paytm wallet to Paytm Payments Bank or any other bank account, you will be charged with 5%.