New Delhi: The India Post Payments Bank (IPPB), the lending wing of the government-owned post office, has announced modifications on charges for its virtual debit cards.
Beginning today, it will charge Rs 25 as annual maintenance and re-issuance fee for these digital debit cards. This is including GST, according to a press release. The IPPB had launched its virtual debit card to help customers shift towards the digital payment ecosystem promoted by the central government.
“This is to inform all concerned that annual maintenance charges of Rs 25 (incl. of GST) on Virtual Debit Card (VDC) will be applicable w.e.f 15 July, 2022,” said a press release by IPPB. However, premium accounts (SBPRM) will be exempt from these charges.
The bank already charges a one-time issuance charge of Rs. 25 for virtual debit cards, which is also inclusive of GST.
