paying shop using cc/upi etc

64°
Deal Cadet
arko1983650

I have to pay 60 lakh to my builder for shop purchase. They have online option for paying. payment due date is 18th of this month. credit card they are charging convenience fee. I have hdfc nue card infinity .should i try with bhim upi. 

through a burgundy debit card

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through credit card 

payment options

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Deal Newbie Deal Newbie
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Let me understand this

You wanna pay 60L using UPI/CC?

Deal Cadet Deal Cadet
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yes why not but not possible due to convenience charge and i think billdesk will put it in utility  which may cause issue (commercial use). I dont have much time only 13-14 days. If nothing is profitable then neft rtgs. even they are charging convivence fee  for debit card.

Deal Cadet Deal Cadet
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@baludesi
This is for the shop payment for my salon. any help guys.

Benevolent Benevolent
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60L is a huge amount. May be you can split across multiple CCs as you have 10+ cards. But again squeezing max points, you have to work.

Definitely there will be charges. So, better go to RTGS for safe and fast transaction.
Deal Cadet Deal Cadet
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does tata neu have cap for daily upi limit. will i get reward points for utility using upi

Benevolent Benevolent
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Tata Neu Infinity CC - 500 nue coins per month
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Generous Generous
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@arko1983650 ... since convenience fee is 2.36% for CC, one such CC (which I can think of) useful in this case is IDFC First Bank Wealth CC which will fetch 2.5% cashback for spends above Rs. 30k in current statement cycle

but but but, for spends above Rs. 10L from one particular CC may invite notice from Income Tax department seeking explanation on source of funds

Deal Newbie Deal Newbie
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Why you are not going for netbanking option?

Deal Subedar Deal Subedar
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Why don't you use snapay and directly deposit into your billers account.

Or use snapay to credit one of accounts with small(10k) from different cards and then send the whole amount to your builder

Deal Subedar Deal Subedar
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UPI has transaction limit lol you can't transfer 60L i think UPI limit is 1lakh max normally (some exceptional payment like education has 5lakhs limit i think) per transaction 

You wont be able to transfer 60L in one transaction as per RBI limits (non of the bank is allowed to do so, transaction will FAIL or YOU WONT BE ALLOWED AT ALL in the first place)

Better go with RTGS for safety (dont worry about convenience fee lol pay using RTGS for better safety and reliability)

Deal Cadet Deal Cadet
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i dont have wealth , I have idfc select. I am looking to pay without convenience charge. I have bank acc details for direct deposit so i can do rtgs with no issue but i dont get any reward point etc.saw they had a payment link in the email so thought of getting something out of it. even they have put charges in debit card.

Finance Mentor Finance Mentor
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When you are investing 60 lakhs - why taking so much headache and tension for chindi returns? 

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Deal Cadet Deal Cadet
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Personally I would pay through NEFT. 

It will not end for you if you go through CC.

1. Income Tax explanation might be required if spent above 10L.

2. Cards blocked for commercial purpose. You won't save any money when you actually need it during sales.

3. Amount stuck or delayed payment will cause issue for you. Then you will keep sending emails to get things sorted.

4. Chindi cashback is nothing if 60L investment is considered. 

Deal Cadet Deal Cadet
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paying through rtgs only as other methods are not profitable.

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