One of the popular go-to ways to pay bills that don’t accept credit cards has been Paytm.
This is a great way to be able to use your credit card and rack up
points and miles while spending on what you need to pay anyway i.e.
utility bills, taxes, tuition etc.
It was also a great way to meet minimum spend by overpaying these bills
and have the credit applied to future months in due course.
Well, this will soon come to an end sadly as Paytm has just announced on October 24 that starting November 1st, 2019, Paytm
customers will be charged a 1.75% Credit Card convenience fee and 1.25%
Debit Card convenience fee on every bill payment for all categories.
You will not be charged a convenience fee when you make a bill payment
using either your bank account or Paytm Cash, or when you purchase an e-gift card using a credit card or debit card.
American Express credit card convenience fees will remain at 3%.
Here I was hoping that they would reverse the recently introduced fees on property/education taxes but they drop this on us now. I hope they reverse this soon like how they stopped accepting payments by Visa in January of 2018 when it started coding as cash advances and they started accepting it again in August of this year.
Image courtesy of Paytm Canada
Written by Dominic Fernandes aka CanadaPointsGuy