From 6th January 2025, there will be no charges on transferring money from Payzapp Wallet to bank account, HDFC bank announces revision of charges on Payzapp wallet transactions.
HDFC Bank has announced updates to its PayZapp wallet charges, effective from January 6, 2025. These changes impact wallet-to-account transfers and wallet loading fees.
Payzapp Wallet Charges Update
Payzapp Wallet to Bank Transfer Charges
| Particular | Old Charges | New Charges (6th Jan 2025 Onwards) |
| Wallet to Account | 1.5% + GST | ZERO |
Payzapp Wallet Loading Charges
| Wallet Loading Instrument | Old Charges | New Charges (6th Jan 2025 Onwards) |
| UPI | NIL | NIL |
| Non HDFC Debit Cards | NIL | NIL |
| HDFC Debit Cards | NIL | NIL |
| Non HDFC Credit Cards | 1.5% + GST | 2.5% + GST |
| HDFC Credit Cards | 1.5% + GST | 2.5% + GST |
So earlier if you transfer money from Payzapp wallet to bank account you have to pay 1.5% plus applicable GST(18%) charges, but from 6th January there will be no charge for transferring money from Payzapp wallet to bank. But there is a catch, If you want to load money to payzapp wallet you have to pay 1% extra money as the Payzapp loading charges are also revised to 2.5% plus GST from 1.5% plus GST earlier.
As we compare the person wants to transfer money from Credit card to bank have to pay same fees as earlier, but a person who loads Payzapp wallet to pay utility bills to get cashback needs to spend extra 1% for their transaction.
These revisions reflect HDFC Bank’s commitment to providing seamless financial services while optimizing costs for users. PayZapp continues to support UPI and debit card transactions without fees, making it an economical option for most users. However, credit card users will notice an increase in loading charges.
What is Payzapp
PayZapp, an initiative by HDFC Bank, is a versatile digital wallet and payment solution designed to simplify financial transactions. It offers features such as online payments, UPI transactions, bill payments, mobile and DTH recharges, shopping, and travel bookings. Users can also enjoy secure, one-click transactions without storing sensitive card details on their devices, ensuring both convenience and safety
Key Features of PayZapp
- Multiple Payment Options: PayZapp supports UPI, wallet-based payments, and direct card payments, catering to both HDFC and non-HDFC customers.
- Wide Range of Services: Users can pay utility bills, shop online, book flights, and transfer funds seamlessly.
- Rewards and Cashback Offers: The app frequently provides cashback and discount offers, especially during promotional seasons like IPL.
- Easy Accessibility: PayZapp is available on Android and iOS platforms, ensuring broad accessibility
Why the Revision?
The updated fee structure aims to streamline the service while promoting UPI and debit card usage for wallet loading. The removal of wallet-to-account transfer fees is expected to attract more users who require frequent fund transfers.
How to Get Started with PayZapp
To use PayZapp, users need to download the app, register with their mobile number, and complete KYC formalities. Non-HDFC customers are required to undergo additional steps to enable full functionality
