I received notification from payzapp to add funds via credit card and transfer to bank account.
How does IT department see this transaction
Credit Card to Payzapp wallet to Bank Account.
Probably just as loan. Assuming you pay it back within the month, that convenience fee alone makes it a loan at 35.4%pa interest.
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Ans there could be more charges from your CC issuing company for loading wallets
This convenience fee is only by PayZapp (HDFC)
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There are two transactions here.
For first transaction…
IT probably sees it like any other transaction with the credit card.
For 2nd transaction…
Once the money is in your wallet, it is your money. You can spend it in any legal way. Transferring it back to your account isn’t illegal. People with more than one bank account regularly transfer funds between accounts.