Devaluation W.e.f 1st, Nov, 2025 - Major SBI Card Devaluation on Wallet load and Education payment:

[Abhishek012]

W.e.f 1st, Nov, 2025 - Major SBI Card Devaluation on Wallet load and Education payment:

Education Payments (via third-party apps like CRED, Cheq, MobiKwik, etc.):

• 👉 1% fee on the transaction amount.
  
  👉 No fee if paid directly to colleges/schools through their website or POS.
• Wallet Loads (MCC 6540 & 6541):
  👉 1% fee on every wallet load above ₹1,000.

source - https://www.sbicard.com/sbi-card-en/assets/docs/pdf/revised-charges.pdf

or - https://www.sbicard.com/sbi-card-en...portant-terms-and-conditions/mitc-english.pdf


Fee on Education Payment Transactions -

With effect from 1st Nov 2025, a fee of 1% of the transaction amount will be applicable on Education Payment transactions made through third-party apps like (but not limited to) CRED, Cheq, MobiKwik etc. However, payments made directly to colleges or schools via their websites or POS machines will not attract any fee. Education Payments shall be identified under Merchant Category Code (MCC) 8211, 8220, 8241, 8244, 8249 and 8299, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.

Fee on Wallet Load Transactions -

With effect from 1st Nov 2025, a fee of 1% of the transaction amount will be applicable on every wallet load transaction exceeding Rs.1000 using your SBI Credit Card. Wallet load transactions shall be identified under Merchant Category Code (MCC) 6540 and 6541, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.

 

[aggarwal]

W.e.f 1st, Nov, 2025 - Major SBI Card Devaluation on Wallet load and Education payment:

Education Payments (via third-party apps like CRED, Cheq, MobiKwik, etc.):

• 👉 1% fee on the transaction amount.
  
  👉 No fee if paid directly to colleges/schools through their website or POS.
• Wallet Loads (MCC 6540 & 6541):
  👉 1% fee on every wallet load above ₹1,000.

source - https://www.sbicard.com/sbi-card-en/assets/docs/pdf/revised-charges.pdf

or - https://www.sbicard.com/sbi-card-en...portant-terms-and-conditions/mitc-english.pdf


Fee on Education Payment Transactions -

With effect from 1st Nov 2025, a fee of 1% of the transaction amount will be applicable on Education Payment transactions made through third-party apps like (but not limited to) CRED, Cheq, MobiKwik etc. However, payments made directly to colleges or schools via their websites or POS machines will not attract any fee. Education Payments shall be identified under Merchant Category Code (MCC) 8211, 8220, 8241, 8244, 8249 and 8299, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.

Fee on Wallet Load Transactions -

With effect from 1st Nov 2025, a fee of 1% of the transaction amount will be applicable on every wallet load transaction exceeding Rs.1000 using your SBI Credit Card. Wallet load transactions shall be identified under Merchant Category Code (MCC) 6540 and 6541, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.

What I have add to wallet 10 times in one day with 1000 value each?

 

[vaibhav111vaibhav111 is verified member.]

W.e.f 1st, Nov, 2025 - Major SBI Card Devaluation on Wallet load and Education payment:

Education Payments (via third-party apps like CRED, Cheq, MobiKwik, etc.):

• 👉 1% fee on the transaction amount.
  
  👉 No fee if paid directly to colleges/schools through their website or POS.
• Wallet Loads (MCC 6540 & 6541):
  👉 1% fee on every wallet load above ₹1,000.

source - https://www.sbicard.com/sbi-card-en/assets/docs/pdf/revised-charges.pdf

or - https://www.sbicard.com/sbi-card-en...portant-terms-and-conditions/mitc-english.pdf


Fee on Education Payment Transactions -

With effect from 1st Nov 2025, a fee of 1% of the transaction amount will be applicable on Education Payment transactions made through third-party apps like (but not limited to) CRED, Cheq, MobiKwik etc. However, payments made directly to colleges or schools via their websites or POS machines will not attract any fee. Education Payments shall be identified under Merchant Category Code (MCC) 8211, 8220, 8241, 8244, 8249 and 8299, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.

Fee on Wallet Load Transactions -

With effect from 1st Nov 2025, a fee of 1% of the transaction amount will be applicable on every wallet load transaction exceeding Rs.1000 using your SBI Credit Card. Wallet load transactions shall be identified under Merchant Category Code (MCC) 6540 and 6541, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.

who uses sbi cc for wallet and other stuff? idk it not major devaluation.

 

[BhaiyaJi]

who uses sbi cc for wallet and other stuff? idk it not major devaluation.

Probably users who rotate money

 

[Centurion_wala]

W.e.f 1st, Nov, 2025 - Major SBI Card Devaluation on Wallet load and Education payment:

Education Payments (via third-party apps like CRED, Cheq, MobiKwik, etc.):

• 👉 1% fee on the transaction amount.
  
  👉 No fee if paid directly to colleges/schools through their website or POS.
• Wallet Loads (MCC 6540 & 6541):
  👉 1% fee on every wallet load above ₹1,000.

source - https://www.sbicard.com/sbi-card-en/assets/docs/pdf/revised-charges.pdf

or - https://www.sbicard.com/sbi-card-en...portant-terms-and-conditions/mitc-english.pdf


Fee on Education Payment Transactions -

With effect from 1st Nov 2025, a fee of 1% of the transaction amount will be applicable on Education Payment transactions made through third-party apps like (but not limited to) CRED, Cheq, MobiKwik etc. However, payments made directly to colleges or schools via their websites or POS machines will not attract any fee. Education Payments shall be identified under Merchant Category Code (MCC) 8211, 8220, 8241, 8244, 8249 and 8299, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.

Fee on Wallet Load Transactions -

With effect from 1st Nov 2025, a fee of 1% of the transaction amount will be applicable on every wallet load transaction exceeding Rs.1000 using your SBI Credit Card. Wallet load transactions shall be identified under Merchant Category Code (MCC) 6540 and 6541, on best effort basis. The MCCs are defined by the network partners and are subject to change basis their discretion and such changes shall be implemented basis communication from the networks without any requirement for intimation/information to the customers.

Haan toh isme Major kya hai?

 

[HumorSimpson]

who uses sbi cc for wallet and other stuff? idk it not major devaluation.

Correct. Sbi cc gives 0 rewards on edu fee

 

[saber.mbt]

Will it affect T*de or eb*x?

 

[newprouser]

does amazon pay gift card purchase come under wallet load ?

 

[iamdhamo]

does amazon pay gift card purchase come under wallet load ?

No. It will not

 

[6ix9ine]

who uses sbi cc for wallet and other stuff? idk it not major devaluation.

Correct. Sbi cc gives 0 rewards on edu fee

Both education and wallet reload were previously considered for milestones and fee waivers, but this will no longer be the case.

//Edit: Just to be clear, it will still be considered, but there is no point in chasing the milestone when the fee is there.

 

[HumorSimpson]

Both education and wallet reload were previously considered for milestones and fee waivers, but this will no longer be the case.

Not aware of this as mines is LTF

 

[6ix9ine]

Not aware of this as mines is LTF

Yeah, people will not do these activities anymore due to fees. Good for future.

 

[b4bhar]

Both education and wallet reload were previously considered for milestones and fee waivers, but this will no longer be the case.

Is this mentioned anywhere that they are excluded from milestones calculations or maybe i missed it

 

[6ix9ine]

Is this mentioned anywhere that they are excluded from milestones calculations or maybe i missed it

Nah that's not what I meant. It's still included bhai, but now there is no point in chasing milestone when fee is there 😅

Ps: I've edited my original reply to avoid confusion.

 

[b4bhar]

Nah that's not what I meant. It's still included bhai, but now there is no point in chasing milestone when fee is there 😅

Ps: I've edited my original reply to avoid confusion.

haha... understood. but what if they make multiple transactions worth 1000 for wallet load? no fees for them and included in the milestone spends, right?

 

[6ix9ine]

haha... understood. but what if they make multiple transactions worth 1000 for wallet load? no fees for them and included in the milestone spends, right?

On paper, it looks like a yes. But ₹1000 × 100 = ₹1L

Now the real hard work begins 😂

 

[b4bhar]

On paper, it looks like a yes. But ₹1000 × 100 = ₹1L

Now the real hard work begins 😂

agreed. But if you're close to getting the fee waiver and fell short of few thousands.... this might then come in handy