Millions of people use PhonePe every day for UPI payments, mobile recharges, bill payments, and online shopping. However, a recent report has caught the attention of PhonePe Wallet users.
According to reports, PhonePe may charge up to ₹100 every three months on wallets that remain inactive for a long period. This means some users could face extra charges if they keep money in their wallet but do not use it regularly.
The good news is that this rule is not expected to affect all PhonePe users.
What Is an Inactive PhonePe Wallet?
A wallet may be considered inactive if it has not been used for a long time.
For example, if you add money to your PhonePe Wallet but do not use it for payments, transfers, or any other transactions for several months, the wallet could be classified as inactive.
Reports suggest that PhonePe may charge up to ₹100 every three months on such inactive wallets. The actual charge could depend on factors such as the wallet balance and other conditions set by the company.
Will All PhonePe Users Have to Pay This Fee?
No. The proposed charge is expected to apply only to PhonePe Wallet users.
If you use PhonePe only for UPI payments directly from your bank account, you are unlikely to be affected. The fee is mainly linked to wallets where users store money and leave it unused for long periods.
UPI and Wallet Are Not the Same
Many users think UPI and Wallet are the same service, but they work differently.
With UPI, money is directly transferred from your bank account when you make a payment.
With a Wallet, you first add money to the wallet and then use that stored balance for transactions.
Because of this difference, the inactive wallet fee is expected to apply only to wallet balances and not to regular UPI payments.
How to Avoid the Inactive Wallet Charge
Avoiding the fee may be simple.
If you use a PhonePe Wallet, make small transactions from time to time. You can use the wallet for mobile recharges, utility bill payments, or other small purchases.
Regular usage can help keep the wallet active and reduce the chances of any inactivity-related charges being applied.
As of now, users should keep an eye on official announcements from PhonePe for complete details and eligibility conditions regarding any inactive wallet fee.
