UPI Payment Alert: This Bank Starts Charging on UPI Transactions – Details Inside

The country’s leading private bank, ICICI (UPI New Rules 1 August) has given a big shock to its customers. Now transaction fees will be charged for making payments through users or payment aggregators (PA).

This new rule is going to be implemented from August 1, i.e. tomorrow. However, this charge will be taken only from the merchant’s account. Merchant here refers to businessmen. Businessmen like shopkeepers, restaurants etc.

Let us first know how much charge will be levied and what are the rules for collecting it?

How much will I have to pay?

• If any user has an escrow account with ICICI Bank PA, he will be charged 0.02 per cent per transaction.
• The maximum limit of this charge will not exceed Rs 6.
• Those who do not have an escrow account in ICICI Bank can be charged 0.04 percent.
• In this case, the maximum charge will not exceed Rs 10 per transaction.

When will you not have to pay the charge

If a transaction is transferred directly to the merchant’s ICICI Bank, then in such a case you will not have to pay any charges.