As per a new rule of RBI, Google notifies every YouTube Premium subscriber in India to verify their banking cards if they want to use an automatic payments system.
Today, a popular and reliable Indian YouTuber “Technical Yogi” published a new informative video explaining the complete information about the new rule of RBI (Reserve Bank of India) for whether you’ve membership of a particular channel or a part of YouTube Premium subscribers. Recently, lots of creators received an email from YouTube about the new “Recurring Payment” membership.
While making a purchase of a membership of a specific channel or YouTube Premium subscription, you will see two payments mode:
- One-time Payment: where every month, you’ve to manually renew by paying the amount of the subscription at the end.
- Recurring Payment: where a monthly subscription amount will be automatically debited from your account and you don’t need to renew manually (when the subscription has been ended).
So, in the case you selecting a 30 days trial period of YouTube Premium and if don’t choose a recurring payment mode, then about 2 to 3 INR will be debited from your eligible bank account but it will get back to your bank account after 2 to 5 days.
The primary new rule is if you already have the subscription after 1st May 2021 and selecting the “Recurring Payment” mode, there you now have to verify your debit or credit card details by 30 September 2021 to continue using “Recurring Payment” mode, otherwise, your membership/subscription will be canceled.
Noted that you can only use recurring payment mode if the payable amount is below INR 5000. For example, you want to buy a membership of INR 7000, then you can’t be able to purchase it through recurring payment mode, in that case, you must choose the one-time payment option.
NOTE: In India, this rule applies to all subscription-based payment platforms, doesn’t matter whether it is for a specific website or application.
Update – 9 December 2021: This rule is now officially discontinued by the company.