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Information on Utility payments and Wallet loading
1% Fee on Utility payments and wallet loading above Rs. 25,000
W.e.f statements generated in November 2024 cumulative “Utility payment” transactions up to Rs. 25,000 in a statement cycle will not attract any fee. However, if a customer spends more than Rs. 25,000 in a statement cycle, 1% Fee + GST will be levied on the cumulative spends for that statement cycle.
All the “Debit” transactions captured under Merchant Category Code (MCC) 4899 and 4900 will be considered for calculation of threshold for a particular statement cycle.
The statement generated in November 2024 will be including the spends done in October 2024.
Reversal transactions will NOT be considered for calculating the capping utility spends and levy of charges.
www.indusind.com
1% Fee on Utility payments and wallet loading above Rs. 25,000
W.e.f statements generated in November 2024 cumulative “Utility payment” transactions up to Rs. 25,000 in a statement cycle will not attract any fee. However, if a customer spends more than Rs. 25,000 in a statement cycle, 1% Fee + GST will be levied on the cumulative spends for that statement cycle.
All the “Debit” transactions captured under Merchant Category Code (MCC) 4899 and 4900 will be considered for calculation of threshold for a particular statement cycle.
The statement generated in November 2024 will be including the spends done in October 2024.
Reversal transactions will NOT be considered for calculating the capping utility spends and levy of charges.
1% fee on Utility and Wallet Loading
