HDFC Bank Foodplus Prepaid Card – Benefits, Fees & Eligibility

Introduction

The FoodPlus Prepaid Card, issued by HDFC Bank, is a corporate/employee meal card designed to streamline food payments across India. It offers a hassle-free experience for employees, replacing traditional paper vouchers with electronic convenience. This card is tailored for businesses to manage meal allowances, reimbursements, small-scale salary distributions, and incentive programs, simplifying the payment process for food and beverage-related expenses.

Prepaid Card Variant & KYC Tiers

• The FoodPlus Prepaid Card is a reloadable prepaid instrument.
• For Full KYC cards, companies can load a maximum balance of ₹2 lakhs.

Balance & Transaction Limits

• The maximum wallet balance allowed on the FoodPlus Prepaid Card is ₹2 lakhs at any given point in time.
• Companies can load a maximum of ₹2 lakhs onto full KYC cards.
• The card is designed exclusively for meal-related expenses at affiliated food and beverage establishments, both offline and online (e.g., Swiggy, Zomato).
• ATM cash withdrawals are not permitted with the FoodPlus Prepaid Card.
• Cash withdrawals at Point-of-Sale (POS) terminals are not permitted.

Fees and Charges

• Issuance Fee: ₹100 plus applicable GST.
• Annual Maintenance Charges: ₹100 plus applicable GST.
• Reissuance Fees: Nil.
• ATM Cash Withdrawal Fees (HDFC Bank & Other Banks): Not Applicable.
• Balance Inquiry Fees (HDFC Bank & Other ATMs): ₹10 plus applicable GST per transaction.
• Cash Withdrawal at POS: Not Applicable.
• Inactivity: If the card has no financial transaction for a consecutive period of 12 months, it will be made inactive/temporarily blocked by the bank after sending a notice to the cardholder.

Rewards, Offers & Partner Perks

• Cardholders can maximize savings through exclusive discounts at affiliated food outlets.
• The card is suitable for providing meal allowances to employees.
• Per Section 17(2)(viii) of the Income Tax Act, 1961, food purchased using a non-transferrable paid voucher usable at food outlets is not taxable if the cost to the employer is ₹50 or below, per meal (considering 2 meals a day for 22 working days in a month for the employee).

How to Apply & Load Money

• Eligibility: All corporations engaged with HDFC Bank can secure a FoodPlus Prepaid Card for their team members. Companies can opt for distribution of meal cards to their employees based on their compensation plan.
• How to Apply: Companies can apply for the FoodPlus Card via the HDFC Bank website or by visiting a branch.
• How to Load Money: Funds can be seamlessly loaded onto the card via E-net, direct debit to an HDFC Bank Account, or cheques. The card is loaded/funded by the company with a fixed monthly allowance.
• Card Activation: Activation of the FoodPlus Card is required for transactions. This can be done using internet banking or by contacting customer service.

Prepaid Card Review

The FoodPlus Prepaid Card is an excellent solution for corporations looking to provide meal allowances and manage food-related expenses for their employees efficiently. Its primary value lies in replacing cumbersome paper vouchers with a digital, hassle-free payment method.

• Pros:
  • Seamless food payments across India, including online platforms like Swiggy and Zomato.
  • Hassle-free usage and easy replacement if lost or damaged.
  • Zero Lost Card Liability protects beneficiaries from fraudulent transactions if reported immediately.
  • One-time card distribution, eliminating monthly paper voucher logistics.
  • Instant updates for demographic details.
  • Access to NetBanking and PhoneBanking facilities, SMS alerts for all transactions, and easy balance checks.
  • Widespread acceptance at all food and beverage outlets.
  • Effortless loading options for companies.
  • Maximizes savings through exclusive discounts at affiliated food outlets.
  • Valid for 5 years.
• Cons:
  • Strictly restricted to food and beverage purchases; no cash withdrawal facility from ATMs or POS.
  • Applicable issuance and annual fees.
  • Card becomes inactive if unused for 12 consecutive months.
• Who should apply: This card is ideal for corporations partnered with HDFC Bank that wish to provide a structured, convenient, and tax-efficient meal allowance benefit to their employees.

Important Product Details

• Positive Highlights:
  • Seamless food payments across India, including E-com transactions on Swiggy and Zomato.
  • Enhanced benefits for employees, including zero lost card liability after reporting a loss.
  • Hassle-free usage, replacing monthly paper vouchers with one-time card distribution.
  • Instant updates for demographic details.
  • Provides NetBanking and PhoneBanking facilities, SMS alerts for all transactions, and easy balance checks.
  • Widespread acceptance at all merchant locations nationwide.
  • Effortless loading via E-net, direct debit, or cheques.
  • All transactions are captured electronically.
  • Card is valid for 5 years.
• Negative Highlights:
  • Not meant for cash withdrawals from ATMs or POS terminals.
  • Usage is restricted to buying foods and beverages at food outlets or online.
  • Subject to issuance and annual fees.
  • Card becomes inactive if no financial transaction occurs for a consecutive period of 12 months.

Refund & Card Closure Terms

• Card Expiry: The FoodPlus Prepaid Card remains active for five years, retaining its validity until the final working day of the month mentioned on the card.
• Card Replacement:
  • If the card is lost, stolen, or damaged, or if it has expired with a balance, the cardholder should liaise with their corporate SPOC Admin. The request for card replacement or balance transfer from an old card to a new card must flow to the Bank via the Corporate SPOC Admin.
  • Reissuance fees are Nil.
• Zero Lost Card Liability: Beneficiaries are protected with zero lost card liability after reporting a loss immediately to HDFC Bank’s 24-hour Call Centre.

Other Details

• Card Management & Controls:
  • Single Interface: The card can be managed through a unified platform that also handles Credit Cards, Debit Cards, FASTag, and Consumer Durable Loans.
  • Spends Tracking: A simple interface is available to track all card spends.
  • Reward Points: The management interface allows viewing and redeeming points (though specific rewards for FoodPlus are not detailed, this is a feature of the platform).
• Reporting Unauthorised Transactions: Should any unauthorized transactions be detected, it is crucial to inform HDFC Bank without delay and have the card blocked or hotlisted by contacting Phone Banking at 1800 1600/1800 2600.
• Checking Card Statement: Card statements can be obtained via the Prepaid Card NetBanking portal by selecting "Account" >> "Request Statement" >> "Submit" >> Selecting Date Range >> "Submit".
• Administering the Card: Cardholders can administer their card with ease via the Prepaid Card NetBanking Portal to track balance, peruse transaction history, manage spending limits, subscribe to e-statements, alter PIN, and secure the card.
• Inactive Card Management: If a card becomes inactive due to no financial transaction for 12 consecutive months, it will be temporarily blocked. To unblock, visit the Prepaid Card Portal or call Phone Banking at 1800 1600 or 1800 2600. The card must be used before 12 AM on the day of unblocking, or it will lock again.
• Changing ATM PIN: The ATM PIN can be changed after logging into the Prepaid Card NetBanking portal, using the "Account" and 'Set ATM PIN' option.
• Updating Demographic Details:
  • Mobile Number / Email ID: Log in to the Prepaid Card NetBanking Portal, navigate to "Manage My Profile" -> "Contact Information" -> "Edit", enter new details, and verify with an OTP. Updates are instant.
  • Address Update: Visit the nearest HDFC Bank branch, submit a signed application for "Change in Address" along with documentary proof of the new address. Updates within 7 working days.
• Disclaimer: Prepaid Card approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification as per the Bank's requirement. Interest rates are subject to change.
• Terms and Conditions: Users must thoroughly review the Most Important Terms and Conditions document for specific terms governing the card's use.