Yes Bank Credit Card Changes: Increased Spending Limits and More
Yes Bank has implemented several new credit card regulations, providing increased flexibility in spending on utility bills, transportation expenses, and digital wallets. The changes come into effect starting the first day of the new financial year.
Highlights
- •Increased spending limits for certain categories to avoid charges.
- •Changes in transportation expenses will affect premium and non-premium customers differently.
- •Customer-specific limits are provided for utility bill payments and loading funds into digital wallets without additional fees.
- •A 1% plus GST charge applies if the spending exceeds specified limits.
If you are a Yes Bank account holder, you will find important news regarding several changes to your credit card regulations. These adjustments come into effect starting the first day of the new financial year.
The main focus areas for these changes include utility bill payments, transportation expenses, and digital wallet loading. Notably, Yes Bank has decided to increase spending limits across certain categories, providing customers with more flexibility without incurring additional charges.
Let's break down the key details:
- New Limit for Utility Bills: Customers will now be able to spend up to specific amounts on utility bills like electricity, water, and gas before excess spending would trigger a 1% plus GST charge. The limits differ based on the type of Yes Bank credit card: ₹100,000 for standard cards, ₹50,000 for premium Marquee and Reserve cards, and ₹2,500 for other cards.
- Changes in Transportation Expenses: Transactions related to tolls and bridges will now be categorized under 'Transportation Fees'. An excessive spending of ₹75,000 for premium cards or ₹50,000 for other cards in this category would incur a 1% plus GST charge. The maximum per transaction cap remains at ₹5,000.
- Digital Wallet Loading: Customers who use their credit card to load funds into third-party digital wallets will no longer be charged up to ₹2,000 transactions. Excessive charges apply in amounts beyond this limit: a 1% plus GST fee on any transaction exceeding ₹2,000 with a cap of ₹5,000.
- Other Key Points: The changes maintain the unchanged fee rates (a charge of 1%—plus applicable GST—to be levied for spending above the limit).
