The easy access to payment apps where people register fake business with benefitting MCC is adding up. If apps start verifying business this can stop but even then people will give fake photos of relatives business shop to get work done.
As someone aptly said hum kare to raasleela, govt/admin kare to character deela
Mobilepe is working but idfc banned it so no use.
You mean DC payment is present but IDFC is blocking transactions? Will it work for other banks then?
lol too much credit to their tech/analytics team...till date they are notorious and infamous for blocking accounts incorrectly for upi usage...even their bank branch managers are pareshan unblocking continiuous wrong blockage
This issue of account freeze was there 2-3 years back mainly for accounts opened online. They have rectified it to a large extent now. I opened my account offline and did some really heavy spends but still no issue. Opened my mother's account online(to get that Rs.250 referral bonus) and did some heavy transactions and again no issues till date. But if somebody does 40-50 upi transactions in a month in savings account then that will be a problem irrespective of the bank.
40-50 upi shouldn't be a factor to judge frankly as this day and age you spend day to day in UPI. I have 3-4 transaction everyday at minimum and it's common I use cc upi though. But points is nowadays they can't say saving account is just meant to be for saving and shouldn't have lot of transaction that is stupid.
If Somebody does 40-50 high value upi transactions a month then that can count as commercial use of savings account. Banks will freeze the account and ask us to open a current account. Banks r already struggling with low CASA deposits these days. They will definitely want these high spenders to shift to current account so that they dont have to pay any interest.
I easily cross 40-50
UPI lite / rupay card seems a better option for you.
Small value transactions below Rs 100 r not an issue. If u have daily Rs.500-1000 or more upi transactions then that can trigger their system. Savings account r meant for savings, not high spends. We r lucky that we r still getting 2-3% interest in savings account. In western countries where they use concept of separate savings and checking account we get peanuts as interest rate
Yes But but it charges for other debit cards so it doesn't make sense
I open my online. 200+ transaction per month more than 5lac . Never face any problem till now. Best ever account for daily transaction. Never seen any upi transaction failure.
Happened to me 6 months ago and the branch manager when he came to my house to unlock account was so worried I will close my account...he said i am losing so many good accounts due to the 'shitty - my paraphrasing' blocky algorithm
Which Bank? Are you maintaining high NRV/AMB with the bank?
