I recently came across an important update HDFC Bank is set to introduce a 1% fee on certain types of credit card transactions starting July 1, 2025. What type of transactions are these? Will it be applicable on everyone?
- A 1% fee will be charged on the total amount loaded into third-party digital wallets (like Paytm, Mobikwik, etc.) if the monthly loading amount exceeds ₹10,000. This fee is capped at ₹4,999 per month.
- A 1% fee will be charged on utility bill payments (excluding insurance) if the monthly expenditure on consumer cards exceeds ₹50,000 or on business cards exceeds ₹75,000. This fee is also capped at ₹4,999 per month.
- A 1% fee will be applied to transactions on online skill-based gaming platforms (like Dream11, Rummy Culture, etc.) if the monthly spending exceeds ₹10,000. This fee is capped at ₹4,999 per month.
Yes, it will be applicable on everyone.
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