Many credit card issuers exclude wallet spending from rewards and cashback. But, American Express continues to provide regular rewards on wallet transactions. This is good as Amex has very low acceptance offline. So, we can use wallets for some of the day-to-day transactions. But, if you have not been using Amex on Paytm because of the add money charges, here is an offer for you. Amex has launched a cashback offer for adding money to your Paytm wallet.
Amex Offer: Add Money to Paytm Wallet
| Offer | Get 5% cashback on adding money to Paytm wallet |
| Promo Code | AMEX500 |
| Maximum Cashback | Rs 500 |
| Minimum Add Money Amount | Rs 3500 |
| Offer Validity | 21 to 31 December 2022 |
| Cashback Fulfillment | By 01 Feb 2023 |
My Take
Currently, Paytm allows side-loading of its wallet through its partners up to a limit of Rs 4000 per month. Anything more than that amount needs to be added from the Paytm app.
Adding money by UPI/Debit Cards is free but adding money by credit cards is chargeable. The charge varies from 2.65% to 4% depending on the credit card and Paytm’s view of account history. This is where the Amex offer is useful as the cashback offsets the charge levied by Paytm.
The good thing is we still get base MR points for the ‘Paytm add money’ transactions. These spend also go towards annual fee waiver and spend targets where applicable. So, this is a good offer to add money into Paytm wallets using an Amex card without any charges. 🙂
You can also double dip with the current New Year spend offer 🙂
