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Do you load money in an e-wallet from a credit card, know how much extra fee is deducted, understand profit and loss

The cardholder gets rewards on most of the transactions done through the credit card. However, different fees may also apply on different platforms.

New Delhi. Most of the banks in the country offer credit cards to their customers with good credit scores. Along with this, the process of taking a credit card has also been simplified. Therefore, at this time a large number of people are using credit cards. In today’s time, apart from UPI, people are using e-wallets like Paytm, PhonePe, Mobikwik, and Amazon Pay indiscriminately for digital payments.

People add money to the e-wallet with a credit card and then use it for small payments. On making a payment through an e-wallet, OTP or PIN is not required to be entered again and again. In this sense, it is considered convenient.

What is the advantage?
Customers get rewards points for loading money into the e-wallet through a credit card. Apart from this, you get about 45 days for repayment, for which no interest has to be paid. Also, after spending up to a certain limit on multiple credit cards, your annual maintenance fee is refunded. Apart from this, many times cashback is also available for adding money to e-wallets from credit cards.

What is the loss?
Extra charges may also have to be paid for adding money to an e-wallet through a credit card. Understand in simple words, if you add 100 rupees to the e-wallet, then you may have to pay an extra charge of up to 2-5 rupees.

2.5 to 5 percent extra charge in Paytm
According to Paytm’s website, a 2.5 percent charge is taken for loading money in a Paytm wallet through a credit card. Also, a 3% charge is levied on loading money into the wallet using American Express, Corporate Card, or Prepaid Card. A surcharge of up to 2 percent would apply to users who add money to their wallet using a credit, corporate or prepaid card and transfer it to a bank account for an amount of Rs 5,000 per month or more.

Up to 2.65 percent extra charge in
PhonePe According to Paytm’s website, up to 2.65 percent extra charge is taken for loading money in a PhonePe wallet through a credit card.

Money loaded from credit cards in Amazon Pay wallet has been stopped
The process of loading money from credit cards in Amazon Pay Wallet, the payment unit of the e-commerce company Amazon, has been stopped. However, you can load money through debit cards, net banking, and UPI.

There is no extra charge for adding 2500 rupees to Mobikwik. If you add up to 2500 rupees in
Mobikwik wallet every month by credit card, then no extra charge has to be paid.


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