The wallet upload and bank transfer fee on the Federal Bank OneCard went from 1% to 2% on monthly transfers above ₹10,000 on 30 May 2026. If you still move money through this card, here is what it now costs and the cheaper ways to do the same thing.
The ₹10,000 monthly threshold itself does not change. The new rate applies only to the portion above it.
The fee applies to wallet uploads and transfers to bank accounts made using the Federal Bank One Co-Branded Credit Card. Until 29 May, the charge was 1% of the transaction amount. From 30 May, it became 2% on the portion of your cumulative monthly transfers that exceeds ₹10,000.
The ₹10,000 monthly threshold remains unchanged — transfers up to that amount per month are not subject to this charge. The rate change applies to everything above it.
The ₹10,000 is a cumulative monthly limit across all wallet and bank transfers on the card — not a per-transaction limit. If you have already transferred ₹8,000 this month and then transfer ₹5,000 more, the fee applies to ₹3,000 (the portion above ₹10,000), not the full ₹5,000.
The rate change is straightforward in percentage terms. In rupees, the gap grows significantly at higher transfer volumes.
At 1%, the fee was roughly in line with — or occasionally below — the reward points earned on the same transfer, depending on your spend category and whether you hit the 5X threshold that month. The arbitrage was thin but it existed for some users.
At 2%, that arithmetic changes. OneCard's base earn rate on most transactions is 1 reward point per ₹50, which translates to approximately 0.5%–1% in redemption value depending on how points are used. A 2% fee on money movement will, for most users, exceed the rewards earned on the same amount. The pass-through no longer pays for itself.
If you are one of the users for whom wallet transfers happen to fall in a top 5X category in a given month, run the numbers for your specific earn rate and redemption value before writing it off entirely. For most users, however, 2% is not a fee worth paying for the convenience of moving money through a credit card.
Pay merchants directly using the card wherever accepted. Direct card transactions earn rewards without the transfer fee. Reserve wallet top-ups for situations where the merchant does not accept cards — and keep monthly top-up volume below ₹10,000 if you do need to use this route.
This fee change fits a pattern visible across the Indian credit card market in 2026 — banks and card issuers progressively tightening the economics of pass-through transactions that generate low or zero interchange. Wallet top-ups and bank transfers sit squarely in that category. See our broader analysis in why Indian credit cards keep getting worse.
OneCard Hub is an independent, unofficial fan site not affiliated with FPL Technologies Pvt. Ltd. This article is based on the Federal Bank One Co-Branded Credit Card MITC update effective 30 May 2026, available at getonecard.app. Fee structures may vary by partner bank and are subject to change. Always verify the current terms in your card's MITC document in the OneCard app before making financial decisions. This is not financial advice.
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