ICICI Paylater - Convenience Fees
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Yesterday got app notification that one time convenience fees of Rs 500+ taxes will be charged for next cycle.
I am going to raise request for closure of same.
Sharing the info with fellow dimers.
PS: Today's notification has no mention of amount, may be different for different credit lines amount.
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Closed icici paylater 2m back. Actually planning to open again. Now i feel happy to close this acc 
what is the nature/type of your primary savings account?
Wealth
Closed 
I got the notification for Rs. 500 charges. I also closed the account immediately.
Factually incorrect.
The convenience fee would be a flat ₹118 for every 3k(block) spent or part of it as transaction amount.
That ₹590 is one time activation fee(for new users).
₹ 590 was is getting charged to old users too. I got this for ~5 yrs old account
Didn’t know about this fees per spend block.
Anyways I got rid of this account
It is a unique product that effectively provided UPI based credit limit. But with these charges, it is as good as dead.
Ive used Paylater Extensively, but i never received this notification
Same here.
ICICI Paylater send Rs500 Amazon gv, check your email - https://www.desidime.com/discussions/icici-payl...
No, it is for all users, see there official page…
https://www.icicibank.com/Personal-Banking/card...
it seems First they want to charge convinience fee @ 3.93% per 3000 blocks, then on same amount they will charge interest @ 42.6% annually incase of delayed payment, So they will charge two times on same amount, which is not a good thing for consumers, credit card will be better in this scenario, although we can not use UPI in credit card.
Thanks for this.
Good that decided to close immediately without any delay
I think people suddenly stop using their services, So they changed 15 mar 22 rule, Now from Apr-22, allowing up to 1000 Rs. monthly usage without convenience fee, Although still very bad rules, compare to credit Cards. Same URL updated with this info MITC Digital Credit (icicibank.com)
Glad you brought it up. I closed it last month. We can easily close from iMobile app itself.
Vu kg+