PhonePe users, beware! If you don’t use your wallet, money will be deducted from your bank account?

If you are a PhonePe user, then this news is important for you. According to social media and several reports, if users do not use their PhonePay wallet for a long time, they may be charged an inactivity fee. This has left many wondering if the money will be deducted from their bank accounts as well.

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What is the whole matter?

There is a discussion about an inactivity fee related to PhonePay Wallet. This means, if the user does not use his wallet for a long time, the balance in that wallet may be charged. But this rule applies only to the wallet, not directly to the bank account.

Will money be deducted from your bank account?

Most importantly, if your PhonePe wallet does not have a balance, your bank account will not be debited just because the wallet is active. This means your linked bank account is completely safe. The inactivity fee is applicable only on the wallet balance, i.e. if the user has not used the wallet for a long time and still has a balance, the fee can be charged only.

What is the difference between a wallet and a bank account?

Many people think PhonePe app and PhonePe wallet are the same thing, but they are different. For example, UPI payments are made directly from a bank account and require an upfront deposit in the wallet. If you only use UPI and don’t keep money in your wallet, no need to worry.

what should you do

Check your wallet balance regularly.

Keep your wallet empty unless needed.

Constantly check the official notice.

Don’t believe rumors immediately.

Does this happen with other apps as well?

Some digital wallet companies charge maintenance fees or inactivity fees for wallets that remain inactive for long periods of time. However, each company has different rules. So, for now at least, if you are a PhonePe user then there is no need to panic. Money will not be deducted from your bank account just for not using the wallet. But make sure to check your wallet and app updates regularly.

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