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This article is more than 1 year old.

Paytm wallet charge for adding money via credit card: How does it work?

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With effect from January 1, 2020, transactions greater than Rs 10,000 per month will attract a charge of 1.75 percent, plus goods and service tax.

Paytm wallet charge for adding money via credit card: How does it work?
Paytm wallet users will need to pay additional charges of 2 percent for loading more than Rs 10,000 per month via credit card, according to a notification on the company’s website. However, there are no charges to add money in the Paytm wallet via debit cards, internet banking and UPI.
With effect from January 1, 2020, transactions greater than Rs 10,000 per month via credit card will attract a charge of 1.75 percent, plus goods and service tax.
Also, in case a customer is putting additional money in the wallet, which exceeds the total wallet transaction limit of Rs 10,000 per month, that transaction amount will be charged.
How it works
If a customer adds Rs 12,000 to the wallet in a calendar month in one transaction, a fee of 1.75 percent (plus GST) is charged on entire the Rs 12,000. The customer will pay Rs 12,240 from its account—Rs 12,000 will be added to wallet and Rs 240 will go to the company. All subsequent transactions shall be charged accordingly.
In case of multiple transactions with a combined amount lower than Rs 10,000, no transactions will be charged. For example, 1st transaction of Rs 1,000 and 2nd transaction of Rs 2,000. Neither of the two transactions is charged. And any transaction up to Rs 7,000 will not be charged.
However, if you initiate a transaction of Rs 7,001, the entire amount of Rs 7,001/- shall be charged. All subsequent transactions shall be charged too.
Who are excluded
Paytm said privilege customers can add money to the wallet without any charges via all modes. Customers are categorised as classic or privilege on the basis of an analysis of their account usage patterns.
“Paytm Payments Bank will conduct a review of the customers’ accounts every six months and if no such anomalous activity has been observed therein during such period, then the customers’ accounts shall be converted from Classic to Privilege,” the company explains.
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