BANKS PRE-PAID CARDS

 

Mobile Wallet

How to get it:

  • Provide full KYC (Know Your Customer) information to open new account
  • Apply for Wallet/ Pre-paid Card
  • Get a MPIN / PIN

Service Activation:

  • Load money (subject to regulatory limits) using branch, or internet banking
    • Bank A/c
    • All Cards
  • 1-2 days for card
  • 5-7 minutes for wallet

What is required for Transaction:

  • Smartphone or internet
  • Use MPIN
  • Self-service and/or Assisted mode

Transaction Cost:

  • On loading the pre-paid card, Customer may pay service charges for transaction or fixed fee, upfront + each transaction.
  • Loading wallets is mostly free.
  • Merchant is charged fee 0.50% to 2.50 %
  • Cash out is charged to customer as fixed fee or 1% to 2.5% of value of transaction. Only from Cards

Disclaimer: The transaction costs are based on available information and may vary based on banks.

Services Offered:

  • Balance Enquiry
  • Passbook/ Transaction history
  • Add money
    • Bank A/c
    • All Cards
  • Accept Money
  • Pay money
    • Another wallet (mobile no.) with same provider
    • Pay merchant
    • Bar Code reader
    • Cash-Out (Cash withdrawal)
    • Touch and Pay
  • Manage Profile
  • Notifications

Funds Transfer limit:

  • For Users
    • Rs 1,00,000/- for Users
  • For Merchants
    • Self-Declared - Rs 50,000/ month
    • With KYC – Rs 1,00,000/- month

Disclaimer: The funds transfer limits are based on available information and may vary based on banks.

Service Available from no. of operators:

  • All leading Banks
  • Non-operable
  • Cash-out with limits only for VISA/Mastercard linked wallets/ cards