PhonePE Update- Is your account on PhonePe, due to one mistake you may have to pay Rs 100

Friends, in today’s modern era, everyone uses PhonePe for money transactions, if you are also one of them, then there is an important news for you, about which you should know. The digital payments platform has changed its wallet policy and may soon charge some users an ‘inactivity maintenance fee’. This fee will not be applicable to everyone—it is especially for those users who have not used their PhonePe wallet for a long time, let us know the complete details.

PhonePe introduces inactivity fee for wallet users

Under the new policy, if a user’s wallet is unused for 365 consecutive days, PhonePe will charge an inactivity maintenance fee of ₹100.

The wallet will be considered inactive when no financial transaction is made from the PhonePe wallet for a full year. Mere opening the app or making UPI payment directly from the linked bank account will not be considered wallet activity.

What is considered wallet activity?

To keep the wallet active and avoid fees, users must make at least one transaction using their PhonePe wallet. Activities included are:

Paying through PhonePe wallet

Using wallet balance for transactions

Any other financial activity related to the wallet

UPI transactions done directly from a bank account will not be considered as use of wallet.

User reaction to the new rule

This announcement has started a discussion on social media. Many PhonePe users rarely use the wallet feature and instead prefer to make payments directly from their bank accounts through UPI. As a result, a large number of users may be affected by this new policy.

How will the fees be deducted?

If wallet balance is ₹100 or more, full fee will be deducted.

If the balance is less than ₹100, PhonePe will deduct the available amount.

Wallet balance will become zero and will not go into negative balance.

This is not the first company to do this

PhonePe is not the first digital payment company to impose inactivity charge. According to reports, MobiKwik had implemented a similar policy in 2021, in which users were charged if the wallet was not used for a long time.