I just mandated my ott subscription for UPI auto pay.As i am a student I am always tight on budget so..I was wondering auto-debit fails due to insuffcient funds…what will be the charges imposed over me.Please a help a broke college guy…
This happened to me once. So i also mandated my ott subscription for auto-pay debit.It was going fine for month but one day i checked my bank statement and there i noticed an penalty of 500+350, then after i dig in and find that due only ₹ 1 my auto debit failed. So yeah bank will fine and different bank have different amount of fine
I attached the image below i found..
One pro tip i would like to give you
Now I set reminders 2 days before the due date — life saver."