Airtel Payments Bank Annual Charges

[LUKA]

Airtel Payments Bank Now Charging For Account Opening & Annual Maintenance

Link : https://www.airtel.in/bank/bank-charges

With Effective From April 2022

Account Opening Charges ₹50

Annual Charges ₹49 + GST

Both Old & New Users Need To Pay The Charges.

For More Details Refer To Above Link.

Note : Charges Not Applicable To Users Who Are Using Airtel Bank For DBT Since Last 12 Months & APY Paying Using Airtel Bank.

 

[nirsark]

Oops! Seems Airtel doesn’t have other ways to churn out money. Who charges money for banking services… lol.

 

[mukundstud]

Is it the revamped form of quarterly SMS charges that APB used to levy? Cause I cannot see the SMS charge section on the page now.

 

[vysakh]

What is so lucrative about Airtel payments bank that people would want to pay to open an account and maintain it, when there are so many established banks, proper ones, that give the services for free?

 

[hriday.haria]

What is so lucrative about Airtel payments bank that people would want to pay to open an account and maintain it, when there are so many established banks, proper ones, that give the services for free?

Having had some insight as to how their business is, they mostly have Merchants as their users, not many retail users.
Also the people who use Airtel Payment Bank Accounts are mostly concentrated in North India.
Nothing lucrative as such these days, though during initial days they had good offers, just like any other mWallet or Small Payments Bank (PayTM) !

For eg. Everyone paying their bills through Airtel Thanks App, they are indirectly routed via Airtel Payment Bank (Merchant) Accounts

 

[hriday.haria]

Airtel users are mostly concentrated in North India?

I was speaking with respect to users who use Airtel Payment Bank Accounts.
Thanks for pointing out.

 

[Batmanbaba]

it can be used to rotate money.....as airtel wallet works with airtel payments bank net banking....you can add money in wallet via credit card...and pay the bill via netbanking...youtube if full of this trick

 

[vysakh]

it can be used to rotate money.....as airtel wallet works with airtel payments bank net banking....you can add money in wallet via credit card...and pay the bill via netbanking...youtube if full of this trick

That can be done with any online wallet, but wallet loading incurs a fee. Moreover, most cards don't give any rewards/cashback to wallet loads or even consider them for the milestone benefits. The transaction fee incurred doesn't even get offset by the card. Why would someone want to 'rotate' money like this?

 

[aarunn]

Airtel also charges 12rs/year for SMS alerts

 

[anonymuos]

"Dear Airtel Payments Bank Customer, an annual subscription charge of Rs. 49 + GST (₹58) will be applicable on your Savings Bank A/C wef April'22. If you wish to opt-out, call us at 8800688006."

The one change (drawback!) of opting out of "annual subscription charges" is we no longer receive any cashback/benefits from Airtel Payments Bank. So either we pay ₹58 per year or we don't get any cashback (which may be higher or lower than ₹58). So decide that before opting out.

Are the cashbacks on Airtel Payments Bank that lucrative? I once paid with APPB at a Razorpay transaction which promised cashback but never received it despite satisfying all requirements. I don't trust Airtel one bit. Like Axis Bank, they're a chor organization. I doubt if I will ever get more than ₹60 cashback from them.

 

[Nemesis]

Koodna sabko tha license k liye... Ab jab profit na hua toh charges...

 

[Wealth is my birth right!]

NSDL jiffy taking monthly charges so not surprising from airtel