PhonePe | The use of digital payments has increased a lot these days. You and I can send money to each other using PhonePe, Google Pay and other UPI apps in our mobile phones and perform other money-related tasks online. But now there is a shocking news for Phone Pay customers. Phone Pay has announced an important change for its wallet users. Accordingly, if the customer does not use the phone pay wallet for a long time, now the users may have to pay additional charges. Due to this decision, lakhs of customers will get a big blow.
Which users will be affected?
According to PhonePe’s new policy, if a user does not make any financial transaction from the PhonePe wallet for 12 consecutive months, the wallet will be considered “inactive”. One thing to remember here is that if you just open phone pay wallet, check its balance or make payment from bank account through UPI, it doesn’t mean you are active. You need to use the wallet balance or transact through the wallet in any case. PhonePe
How much will be charged?
Phone Pay will charge a ‘Wallet Inactivity Maintenance Fee’ of Rs 100 every 3 months on inactive wallets. Full charges will be deducted if the wallet has Rs 100 or more. If the balance is less than Rs 100 then all that money will be deducted.
PhonePe will notify users via SMS or app notification before deducting any amount. This will give users enough time to reactivate the wallet or use its balance.
Make any small financial transaction through PhonePe Wallet at least once a year to avoid this charge. Even a few rupees payment, recharge or remittance will keep the wallet active and save Rs 100.
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