After Yes Bank, Federal Bank is also going to impose an additional 1% + GST charge on all wallet loading transactions done using any Federal Bank credit card. In a recent development, Yes Bank announced a 0.5% charge on all wallet loading transactions done using their credit cards. Following the same path, Federal Bank becomes the second bank to levy extra charges on wallet loading transactions.
Source Link: https://www.federalbank.co.in/wallet-loading-charges
This is not a welcoming step in my opinion, but not many people are going to be affected by this devaluation because there are very few people who use Federal Bank credit cards. Additionally, people generally don't use their cards for wallet loading because of their low reward rate.
Source Link: https://www.federalbank.co.in/wallet-loading-charges
This is not a welcoming step in my opinion, but not many people are going to be affected by this devaluation because there are very few people who use Federal Bank credit cards. Additionally, people generally don't use their cards for wallet loading because of their low reward rate.