paying shop using cc/upi etc
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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
through credit card
payment options
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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.
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.
When you are investing 60 lakhs - why taking so much headache and tension for chindi returns?
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)
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
Why you are not going for netbanking option?
@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
does tata neu have cap for daily upi limit. will i get reward points for utility using upi
@baludesi
This is for the shop payment for my salon. any help guys.
Definitely there will be charges. So, better go to RTGS for safe and fast transaction.
Let me understand this
You wanna pay 60L using UPI/CC?
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.
paying through rtgs only as other methods are not profitable.