lear More about Google Pay Transaction Charges:
This article we’ll determine if Google Pay has or are there Google Pay transaction charges. With all the wallets in the world, we’re constantly searching for ways to send money with no extra charges.
Although the majority of transactions are for free on Google pay, there can be hidden fees when you exceed the limit of transactions in a month. These charges are typically imposed by your bank, not the Google pay application in itself. Continue reading this article about Google Pay transaction charges to learn more!
Google Pay Transaction Fees All you need to Be aware of
Google Pay Transaction Charges
Before we get into the specifics of the fees that are charged when you make transactions using Google Pay, the Google Pay app, let’s take a look and learn more about the way that it works. Google Pay application works.
We’re all aware we are aware that Google Pay is an online type of wallet very as your regular money wallet. It assists in conducting online transactions. It’s an addition to your account at bank in which you can pay through and transfer payments directly through your bank accounts.
Google Pay entirely works on UPI ( Unified Payment Interface )based transactions, which is a real-time payment system designed in collaboration with the National Payments Corporation of India which facilitates inter-bank transaction.
We know at a an extremely high level what Google Pay works, let investigate what are the Google Pay transaction charges!
What is the price of Google Pay Transaction Charges?
Google pay doesn’t charge any fees as of yet on transactions that you conduct through the application. However in their policy they say that there may be fees charged for certain types of transactions. The policy lists two scenarios that a transaction fee may be charged These are:
- Third-party Provider fees Third-party providers are banks that provide the services of the account that you have included in your Google Pay Account. A majority of bank transactions are to UPI transactions occur when the number of monthly transactions exceed a particular limit. Because Google Pay uses UPI mode of transactions, you’ll be charged a particular cost once the limit of transactions has been exceeded.
- Google Fees: This could be the fees used to use Google Pay services. It can be applied to a specific type of transaction. There is no charge for sending and receiving money to or from friends and family. You will be informed
What is the Third-party Provider’s charge in relation to Google Pay?
The bank account you’ve been able to add to Google Pay may be charged a fee once the amount of transactions has been exceeded. The fee is imposed by the bank, it isn’t a charge through Google Pay.
The amount charged is based on the bank that you have an account at.
The most reputable banks like ICICI Bank, Kotak Mahindra Bank, Axis Bank charge an amount of 2.50 for an amount of up to 1,000 , and 5 rupees for any amount over 1,000 following a total of twenty transactions. On the 21st day of transactions using Google pay, you’ll need be charged a charge of either 2.50 or Rs5 based on the amount you transfer. First 20 transactions will be completely free for you to use google pay at no cost.
Take note that the 20 transactions are all UPI transactions you make in addition to those done via Google Play. If you’ve done for example, 7 UPI transactions through another application, after 13 transactions using Google Pay, you will be charged for the fee.
This kind of charge is charged by the majority of the banks in the nation. The cost charged may be anywhere from one and 10 rupees or higher. It varies from bank banks.
If you’ve been charged an additional amount over the amount stated, you may contact the bank concerned for a reimbursement. If you find that a larger amount than the amount that you want to transfer was transferred, call Google Pay Support to assist you.