HDFC Bank Moneyplus Benefit Prepaid Card – Benefits, Fees & Eligibility

Introduction

The MoneyPlus Benefit Prepaid Card is a corporate General Purpose Reloadable (GPR) prepaid card issued by HDFC Bank. It is specifically designed for corporate entities to simplify cash management, streamline financial transactions, and facilitate recurring commission or incentive payouts, reimbursements, and small-scale salary distributions. The card offers widespread acceptance across India, expense tracking via NetBanking, and comes with a remarkable 5-year validity.

Prepaid Card Variant & KYC Tiers

• The MoneyPlus Benefit Prepaid Card is a personalised Visa/RuPay Prepaid Card.
• It is reloadable, with easy and instant loading/reloading options available through ENET or the Prepaid SmartCard Solutions Portal.
• For Full KYC cards, companies can load a maximum balance of up to ₹2 lakhs.

Balance & Transaction Limits

• The maximum wallet balance allowed on the card is up to ₹2 lakhs, subject to KYC compliance.
• Companies can load a maximum of ₹2 lakhs on Full KYC cards.
• The card is accepted at all Visa/RuPay merchant outlets and online e-commerce platforms across India for purchases.
• Cash withdrawal at ATMs using the card is eligible and incurs no charges.

Fees and Charges

• Issuance Fees: ₹150/- (exclusive of taxes/plus applicable GST).
• Annual Fees: ₹150/- (exclusive of taxes/plus applicable GST).
• Reissuance Fees: Nil.
• Cash withdrawal at ATM using the Card: NIL.
• Balance Enquiry at ATM using the Card: ₹10 + GST.
• Cash at POS withdrawal charges: N/A.
• Inactivity Fee: As per RBI guidelines, if there is no financial transaction for a consecutive period of 12 months, the card will be made inactive by the bank after sending a notice to the card holder. The card will be temporarily blocked and can be unblocked by visiting the Prepaid Card Portal or calling Phone Banking. The card must be used before 12 AM or it gets locked again after unlocking.

Rewards, Offers & Partner Perks

• The card offers the ability to effortlessly view and redeem reward points with just a click via the unified platform.
• It often comes with rewards programs and offers, helping users save money on purchases.

How to Apply & Load Money

How to Apply

• Online: Visit the Prepaid SmartCard Solutions Portal, fill in your contact details under the "Apply Now" section, and a representative will connect with you.
• Branches: You can also apply for the MoneyPlus Benefit Card by visiting HDFC Bank branches.

How to Load Money

• Funds can be loaded or reloaded easily and instantly through ENET or the Prepaid SmartCard Solutions Portal.
• Loading can also be done via direct debit or cheques.

Prepaid Card Review

The MoneyPlus Benefit Prepaid Card is ideal for corporate companies looking to streamline their financial transactions for recurring commissions, incentives, reimbursements, or small-scale salary distributions.

• Pros:
  • Widespread acceptance at all Visa/RuPay merchant outlets and online platforms across India.
  • Long-term validity of 5 years.
  • Convenient expense tracking and card management via NetBanking.
  • Free balance checks at any HDFC Bank ATM.
  • Easy and instant loading/reloading options.
  • Transaction alerts via SMS/email for every transaction.
  • Enhanced security features for peace of mind.
  • Nil charges for ATM cash withdrawals and card reissuance.
• Cons:
  • The card becomes inactive if unused for 12 consecutive months, requiring a re-activation process.

Important Product Details

• Positive Highlights:
  • Widespread acceptance across India at all merchant locations and online e-commerce websites.
  • Personalised Visa/RuPay Prepaid Card with a 5-year validity.
  • Quick access to NetBanking for real-time expense monitoring and management.
  • Easy and instant card balance checks at any HDFC Bank ATM without incurring any fees.
  • Specifically designed for corporate recurring commission or incentive payouts, reimbursements, and small-scale salary distributions.
  • Transactions are valid in INR currency across India.
  • Easy loading/reloading through ENET or Prepaid SmartCard Solutions Portal, direct debit, or cheques.
  • Transaction alerts provided for each transaction via registered mobile number.
  • Offers enhanced security features.
• Negative Highlights:
  • The card gets inactive if it is not used at least once within 12 months.
• Card Variant Availability: Available as Visa/RuPay variant.

Refund & Card Closure Terms

• The MoneyPlus Benefit Prepaid Card remains active for five years, retaining its validity until the final working day of the month mentioned on the card.
• There are no re-issuance fees for the card.
• Details regarding the process to surrender the card or transfer leftover balances back to a bank account are not explicitly provided.

Other Details

• Card Management & Controls:
  • A single unified platform is available for managing various HDFC Bank cards, including Credit Cards, Debit Cards, FASTag, and Business Loans.
  • An intuitive interface allows for simple monitoring and management of all business expenses.
  • Users can effortlessly view and redeem reward points with just a click.
  • The Prepaid Card NetBanking Portal allows users to track balance, peruse transaction history, manage spending limits, subscribe to e-statements, alter PIN, and secure the card.
• Intended Use: The card is designed strictly for payments, ensuring that funds are used for their intended corporate purpose.
• Transaction Currency: Transactions are valid in INR currency across India.
• Unauthorised Transactions: In case of unauthorised transactions, it is crucial to inform HDFC Bank without delay and have the card blocked or hot-listed to prevent further misuse by contacting Phone Banking at 1800 1600/1800 2600.
• Misplaced or Stolen Card: If the card is misplaced or stolen, it should be promptly blocked through the Prepaid Card Net Banking Portal or by contacting Phone Banking at 1800 1600/1800 2600 for immediate assistance.
• Changing Demographic Details:
  • For Mobile Number / Email ID: Log in to the Prepaid Card NetBanking Portal, navigate to 'Manage My Profile,' then 'Contact Information,' select 'Edit,' enter new details, and verify with an OTP. Updates are instant.
  • For Address Update: Visit the nearest HDFC Bank branch, submit a signed application for "Change in Address" along with documentary proof of the new address (original documents for verification). The mailing address will be updated within 7 working days.
• Updating Password: Sign into the Prepaid Card NetBanking portal, navigate to 'Manage My Profile,' select 'Change Password,' and follow the prompts.
• Terms and Conditions: The Most Important Terms and Conditions for banking offerings feature specific terms and conditions that govern their use, and users must go through them thoroughly.
• Disclaimer: Terms and conditions apply. 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.