The bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>state bank of india (SBI) has announced important changes for its credit card users starting November 1, 2025. The update focuses on introducing additional fees on specific transaction types, particularly those involving education payments through third-party platforms and wallet top-ups. Here’s everything you need to know—broken down into easy-to-digest points.

1. New Charges on education Fee Payments via Third-Party Apps

SBI Cardholders will now face extra convenience fees when paying education fees using third-party payment platforms such as payment aggregators or wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital wallets. This means if you pay your child's school or college fees through apps like Paytm, PhonePe, or google Pay, expect an additional charge on top of your tuition bill.

· The fee applies to all education-related payments processed through non-bank platforms.

· This move aims to encourage direct payments through official educational institution portals or SBI’s own payment channels.

2. Wallet Top-Up Fees via Third-Party Apps

Loading money into wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital wallets using sbi credit cards through third-party apps will now attract a new service charge starting November.

· Whether it’s Paytm, Mobikwik, or any other popular wallet, topping up with an sbi credit card will no longer be free.

· This charge is designed to reduce misuse of credit cards for indirect cash withdrawals and curb associated risks.

3. Why is sbi Introducing These Charges?

The banking giant cites the need to discourage indirect cash withdrawals and manage credit risk as primary reasons behind the new fees. Payments through third-party wallets and aggregators often resemble cash advances, which carry higher default risks.

· SBI’s move is aligned with RBI’s recommendations on curbing wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital credit misuse.

· It also helps the bank maintain sustainable operations amidst growing wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transaction volumes.

4. Impact on Cardholders: What to Expect

· Increased costs on frequent education fee payments and wallet top-ups via third-party apps.

· Opportunity to save by switching to direct payment options, like paying directly on educational portals or through SBI’s own app.

· Users should review monthly statements carefully to spot and manage new fees.

5. Tips to Avoid Extra Charges

· Use official institution websites or apps for tuition payments.

· Top up wallets using debit cards, net banking, or bank apps instead of credit cards.

· Monitor transactions regularly and consider alternative payment methods for wallet loading.

6. Looking Ahead: Is This a Wider Trend?

SBI’s new rules may set a precedent for other banks to follow, as they look to safeguard credit health and manage operational costs in an evolving digital payments landscape.

Final Thought

If you are an sbi credit cardholder, november 1, 2025, marks the start of new charges that could affect your spending habits—especially when paying education fees or topping up wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital wallets. Stay informed, plan payments smartly, and avoid unnecessary fees by opting for direct and official payment channels.

 

 

Disclaimer:

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.

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G GOWTHAM

02/10/2025 02:36 PM