HDFC Bank Utility charges - Is Life Insurance counted towards Utility?

[ranisi]

My first post:

Question - What all is counted towards utility? As per news posts Insurance is not counted towards Utlity.

Recently Banks started charging 1% and GST on 1% for utility payments beyond a limit. So will Insurance payments will be counted towards utlity charges,

How do we know which bank consider which services for utlity.

HDFC Most important terms and conditions doesnt mention anything of insurane under utility. Moreover on reading the terms and consitions we can see there are different sections for rewards for insurance and utilities - which gives an impression insurance and utility payments are different.

Kindly throw some light.

 

[TechnoFi]

Despite of any news, It all depends on MCC used in that particular transaction. If that MCC is 4900 then that transaction is counted as utility transaction on that website.

If that MCC is related to Insurance then only that transaction is counted as insurance payment on any website.

 

[ranisi]

What is the MCC for insurance?

 

[TechnoFi]

Insurance MCCs ---> 6300, 6381 & 6399.

 

[Andyses]

Please clarify if possible. With the hdfc biz black, if I pay electricity bill(Tamilnadu) of 1 lakh a month through smartpay/payzapp
1. Will it count for 5X accelerated rewards
2. Will the 1% charge for above 75k per transaction be charged.
3. Will the 2000 points max points for utility be applicable.
Thanks in advance

 

[bhanvadia]

Please clarify if possible. With the hdfc biz black, if I pay electricity bill(Tamilnadu) of 1 lakh a month through smartpay/payzapp
1. Will it count for 5X accelerated rewards
2. Will the 1% charge for above 75k per transaction be charged.
Thanks in advance

You will be charged 1% for whole amount of bill, not just for amount above 75k.

 

[Andyses]

Please clarify if possible. With the hdfc biz black, if I pay electricity bill(Tamilnadu) of 1 lakh a month through smartpay/payzapp
1. Will it count for 5X accelerated rewards
2. Will the 1% charge for above 75k per transaction be charged.
3. Will the 2000 points max points for utility be applicable.
Thanks in advance

Can anyone advice