Paytm increased cc load charges. Approx. 4.5% now.

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Deal Newbie
amrishn
This month Paytm increased their cc charges from 2.5% to 4.5%.
Considering this how & where to use the Amex card.
I recently paid the renewal fee as I wasn't able to breach their spend threshold last year.
I tried investing in NPS but that says Amex is not supported.
Gift card is one option but that can't be transferred back.
Any other suggestions?
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Hunk Hunk
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Amex worked just 5 min back on NPS, choose billdesk as payment gateway in nps site, razerpay does not work with amex.

Only option for amex currently is gift cards. Just close the card if you don't have normal spend to justify it, why just simple deal with a headache..

FYI- For me Amex cc to paytm charges are 2.6% and wallet to bank transfer is free.

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I think the increase is due to wallet to bank transfer

According to https://www.paytmbank.com/ratesC...es

Loading money into Paytm

Adding money to Wallet through any funding source other than Credit, Corporate, Prepaid Card and Net Banking (other than through Paytm Payments Bank) – NIL

All transactions of loading money into wallet via Credit Card will be charged up to 2.5% (exc. of GST). Also, all transactions of loading money into wallet using American Express, Corporate Card or Prepaid Card, will be charged up to 3% (exc. of GST).

A surcharge of up to 2% will be applicable on users who have added money in their wallet using Credit, Corporate or Prepaid Card and taken it to the bank account for an amount greater than or equal to INR 5000 per month, in the current or either of the last three calendar months.

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Deal Cadet Deal Cadet
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where to use Amex 1500x4

Deal Cadet Deal Cadet
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I use it for loading milk basket wallet  & buying amazon pay vouchers to pay utility bills

Hunk Hunk
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Amex worked just 5 min back on NPS, choose billdesk as payment gateway in nps site, razerpay does not work with amex.

Only option for amex currently is gift cards. Just close the card if you don't have normal spend to justify it, why just simple deal with a headache..

FYI- For me Amex cc to paytm charges are 2.6% and wallet to bank transfer is free.

Helpful Helpful
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I think the increase is due to wallet to bank transfer

According to https://www.paytmbank.com/ratesC...es

Loading money into Paytm

Adding money to Wallet through any funding source other than Credit, Corporate, Prepaid Card and Net Banking (other than through Paytm Payments Bank) – NIL

All transactions of loading money into wallet via Credit Card will be charged up to 2.5% (exc. of GST). Also, all transactions of loading money into wallet using American Express, Corporate Card or Prepaid Card, will be charged up to 3% (exc. of GST).

A surcharge of up to 2% will be applicable on users who have added money in their wallet using Credit, Corporate or Prepaid Card and taken it to the bank account for an amount greater than or equal to INR 5000 per month, in the current or either of the last three calendar months.

Generous Generous
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oh! got even more clarity on this as I transferred Rs. 20k from wallet to bank

currently it's at 3.35% ... does it mean that the convenience fee will be back to 2.35% after 3 months?
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Regarding NPS, there was some issue with amex on bill desk gateway yesterday but I think it works fine now as @SnippierJoker mentioned

Hunk Hunk
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Yepp yesterday billdesk was showing some error saying min required transaction limit or something. It worked for me today morning though.
Deal Subedar Deal Subedar
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In my account it's 2.35%

Deal Subedar Deal Subedar
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1. Just buy 1500 × 4 Amazonpay vouchers and use it to pay for utilities and recharges.

2.  pay your advance tax but I don't know for sure if the payment gateways accept amex though.

3. Load payzapp wallet(no charges) and use it for utilities.

Deal Cadet Deal Cadet
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Payzapp accepts amex? I thought it only accepts visa and mastercard

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Just opt for Paytm or Razorpay payment gateway then generate payment links and use it for yourself costs only 2.36% including GST no usage limit and settled within 24 hrs, guaranteed reward points for your cc since it is a merchant transaction

replyuser
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