Big blow to PhonePe users, if you leave money in wallet, ₹100 will be deducted every 3 months
New Delhi: Nowadays, we make online payments everywhere, from buying milk and vegetables in the morning to big shopping malls. In this digital world, PhonePe has become one of the most used apps in our mobile. But if you also transact money through PhonePe, then there is a very important and tension increasing news for you. Popular digital payment app PhonePe has implemented a new rule for its wallet users. This new step of the company is going to have a direct impact on your pocket. Let us know in detail what this new rule is, how money will be deducted from your account and how you can save yourself from this unnecessary expenditure.
What is this new rule of PhonePe?
Actually, PhonePe has decided to charge maintenance fees from those users who create their wallet on the app but do not use the money kept in it for a long time. The company says that it costs the company to keep the system running and maintaining the wallets which remain inactive for a long time. To meet this expense, the company has now decided to impose this new charge.
Know when your wallet will be considered inactive?
According to the new rule of the company, if you have not done any transaction from your PhonePe wallet for a full year (365 days), then your wallet will be considered inactive. The thing to note here is that merely opening the PhonePe app, checking your wallet balance or making payment through UPI linked to your bank account is not considered as use of the wallet. To keep your wallet active, it is important that you make any payment using the money present in the wallet. How much money will be deducted from your pocket and what is its meaning? Complete math?
If you do not make any payment from your wallet for a year, PhonePe will charge you ₹100 (including GST) every three months. This penalty amount will be deducted directly from your PhonePe wallet balance. If you have ₹ 100 or more in your wallet, then the entire ₹ 100 will be cleared. Suppose if you have less than ₹100 in your wallet – for example only ₹40 left – the company will deduct only that ₹40, reducing your wallet balance to zero (0). The matter of relief is that for this you do not need to worry about paying money separately from your pocket or bank account, because your wallet balance will never go negative.
Will money be deducted suddenly without informing? If you are thinking that the company will deduct your money without informing you, then do not worry at all. Before deducting any charge, PhonePe will send a notification to your registered number through message or app. This means that if your wallet is on the verge of becoming inactive, you will be informed about it in advance. The company will deduct this charge only if you do not use your wallet even after receiving the alert.
The easiest ways to avoid unnecessary charge cuts
If you want to save your hard-earned money from being wasted like this, then you can adopt some very easy methods. The first way is to make any small transaction using your wallet balance at least once a year. If you want, you can recharge your mobile only for ₹ 10-20 or make payment at any shop. By doing this your wallet will become active again for the next one year. Another way is if you do not want to use PhonePe wallet at all in future, then Spend all the money completely or withdraw it and reduce the wallet balance to zero. When there is no money in the wallet, the company will not be able to make any deduction even if it wants to. Nowadays many digital payment companies are adopting such policies, so it is a good habit to keep checking all the wallets on your phone from time to time.
