Tech786: You use Paytm Wallet to buy goods from grocery stores, pay water and electricity bills, book gas cylinders, recharge mobile and DTH, or for online orders. If you also use Paytm for normal transactions then this is bad news for you. Using Paytm has become expensive since today (15 October).
Loading money from credit card will be charged 2% from October 15
Actually, till now there was no extra charge for loading money from credit card to Paytm wallet. But now the company has changed the rules. According to the information given on paytmbank.com/ratesCharges, from October 15, 2010, if a person makes money with a credit card in Paytm wallet, then he will have to pay an additional charge of 2 percent.
This 2 percent charge will include GST. For example, if you add 100 rupees to a Paytm wallet with a credit card, then you have to make a payment of 102 rupees from your credit card.
Earlier this rule was to be implemented from 9 October itself. However, the company is currently giving a cashback of 1 percent on loading of money from credit card to Paytm.
No extra charge will be given for making payment on merchant site
However, there will be no extra charge on payment from Paytm on any merchant site. There will be no charge even when transferring from Paytm to Paytm Wallet. At the same time, there will be no charge even if you add money to the Paytm wallet by debit card or netbanking.
On 1 January 2020, the company also changed the rules
Earlier, the rules were also changed on 1 January 2020. Till now, if a user used to add a credit card up to 10 thousand rupees in a month, then he did not have to pay any extra charge.
However, if he had to pay 2 percent charge for adding money in excess of Rs 10,000. Now from October 15, if you load any amount from the credit card into the Paytm wallet, you will have to pay a charge of 2 percent.