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Indusind charged 1% for utility
- Thread starter nandhakumar
- Start date
pls add in the tile which induslnd cc it refer too?
This is better than a blanket ban. The limit is generous enough.
Given the fact IndusInd CC(s) are not much of a value to most, this devaluation (with a good amount range) should not impact much.
Seems for all cards. Have edited the title to Credit Cards. Welcome to the world of Capping on Utilities and Wallet loads. Thank god, they haven't touched Fuel surcharge waiver.
There are people not on the forum I suppose who are paying huge Electricity bills/Corporate telephone bills for their commercial properties, factories and power equipment. Using credit cards for rotation purpose and these are low MDR categories for banks and high credit risk too. That's the reason many banks are limiting these categories.
I know one person and he is my friend use Rupay Cards (Yes Rupay, Tata Neu Infinity) for purchase of raw materials for his business and pay his uncle's business utility bills (Around 4-5L per month). so banks wants to limit these category and keep reward structure sustainable. As you said for fair usage this doesn't matter and no need to worry.
Kamalraj
TF Select
After Hdfc, Idfc, yes, now Indusind bank will also charge on utility payment and wallet transaction,
Indusind Bank will charge 1% on utility charges above Rs 25,000 per month and wallet load above Rs 20,000 from October
I don't understand why banks are behind utility payments
2024 should be renamed as devaluation/charges year
Looks like the day is not far when we will have to give reward point cashback to the bank for using credit cards,
Indusind Bank will charge 1% on utility charges above Rs 25,000 per month and wallet load above Rs 20,000 from October
I don't understand why banks are behind utility payments
2024 should be renamed as devaluation/charges year
Looks like the day is not far when we will have to give reward point cashback to the bank for using credit cards,
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Anindya98
TF Legend
Buttman
TF Premier
I think people are using snapay to transfer and i heard Snapay has utility mcc. So now that will get affected!
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