Avoid 1.1% charge on UPI transactions above 2000 Rs with this trick
National Payments Corporation of India (NPCI) has notified the 1.1% of interchange fees for selected UPI transactions above 2000INR
It will be effective from the upcoming financial year starting from the April 1, 2023.
The charge will be levied on UPI payments of over ₹2,000 made to online merchants, large merchants and small offline merchants.
The charges are only for those transactions done using Prepaid Payment Instruments (PPIs).
That includes Credit Cards, Wallets of Payment Apps, etc.
However, UPI users can avoid this 1.1% extra fee if they pay via UPI directly from the bank account.
So, if you're using UPI via PPIs, you can try to limit your transactions below 2000 INR to avoid 1.1% charge on UPI transactions.
Or to avoid the extra charge without limiting the transactions, you can use UPI through bank accrount.
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