InvestorQ : What are the charges Kotak Mahindra Bank will charge its customer for UPI payments?
Neha Samdani made post

What are the charges Kotak Mahindra Bank will charge its customer for UPI payments?

Answer
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Anusha Savla answered.
1 year ago


Kotak Mahindra Bank said it will start charging its customers for UPI transactions starting May 1, 2019. The bank said every month, for each Kotak Bank account, the first 30 UPI fund transfers will be free. Post these 30 UPI transactions a charge will be levied on all fund transfers from the bank account. This will be applicable across all platforms, including Paytm, PhonePe, Google Pay or Truecaller Pay among others. The bank will charge Rs 2.50 per transaction for an amount value below or equal to Rs 1,000, and Rs 5 per transaction for a payment value above Rs 1,000.