Know these important things before adding money from CREDIT CARD in PAYTM WALLET ...

Know these important things before adding money from CREDIT CARD in PAYTM WALLET ...

HIGHLIGHTS

• 1.75 percent charge and GST will have to be given on the amount above 10000 rupees
• The new rule will be applicable from 30 December

The use of Paytm has become very common in our lives today. At this time we use Paytm or other mobile payment app for small to large payments. People all over the country rely on the Paytm app for payment. Through the app, you can also make transactions by adding money from your credit card. However, for this you have to remember some important things. Actually, the company providing the payment solution has decided to charge 1.75 percent fee and GST for adding more than Rs 10,000 to a credit card in a month. This new rule will be effective from 30 December 2019.

According to the information given on the website of Paytm Bank, if a person adds a credit card up to Rs 10,000 in a month, then he does not have to pay any kind of fee. However, if you add more than Rs 10,000, then you will have to pay a fee.

If you add a credit card of Rs 12,000 to a Paytm wallet in a month, then you will have to pay a fee for the entire amount. You will have to pay an additional Rs 240 on this amount. That is, 12240 will be deducted from your credit card but in your wallet you will get only 12,000 rupees. After this, you will also have to pay a charge on other transactions.

Similarly, if you add a total amount of Rs 10,000 or less for the transaction, then no fee will be charged. For example, if you add Rs 1000 first and then add Rs 2000, you do not have to pay any charge and if you add another Rs 7000 after that, you will not be charged even if you add Rs 7001 If you give, then you have to pay the full amount. And likewise, charges will be levied on other transactions as well.

However, no fee is to be paid during the purchase from a merchant. On transferring from Paytm Wallet to Paytm Payment Bank, you have to pay a five percent fee. Apart from this, even after transferring money from Paytm Wallet to a bank account, you will have to pay five percent charge.