PhonePe to charge ₹100 quarterly fee on wallets inactive for a year: Here’s how users can avoid it

Digital payment and financial services company, PhonePe, has revised its wallet policy to introduce an inactivity maintenance fee for users who do not use their wallets for an extended period.

According to the updated guidelines on its website, if an user has not made any financial transactions through the PhonePe Wallet in the past one year or 365 consecutive days, their wallet will be classified as inactive and attract a ₹100 (including GST) quarterly maintenance fee.