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

Introduction

The MoneyPlus Petro Prepaid Card, issued by HDFC Bank, is a corporate prepaid card specifically designed for managing petroleum expenses and allowances for employees. It offers exclusive acceptance at all petrol pumps nationwide, features a high-balance limit, and provides a personalised Visa/RuPay card. Its primary value proposition is to streamline corporate financial transactions, making it ideal for handling reimbursements, small-scale salary distributions, and incentive programs related to fuel purchases, while offering tools for effortless expense monitoring and management.

Prepaid Card Variant & KYC Tiers

• The MoneyPlus Petro Prepaid Card is a reloadable card, allowing funds to be added as needed.
• For Full KYC cards, companies can load a maximum of ₹2 lakh.
• NCMC transit compatibility is not mentioned.

Balance & Transaction Limits

• Maximum Wallet Balance: Companies can load up to ₹2,00,000 on a Full KYC card.
• Monthly Loading Limits: The maximum loading capacity for Full KYC cards is ₹2 lakh.
• Daily POS/Online Transaction Caps: The card is designed exclusively for petroleum purchases, with usage restricted only to fuel (petrol, diesel, gas) at petrol pumps/gas stations nationwide. Non-petrol expenses are restricted.
• ATM Cash Withdrawal: Cash withdrawal is not permitted from this card. It is specifically designed for corporate companies to pay or reimburse petrol expenses.

Fees and Charges

• Issuance Fee: ₹100 plus applicable taxes/GST.
• Annual Fee: ₹100 plus applicable taxes/GST.
• Reissuance Fee: NIL.
• ATM Cash Withdrawal Fees (HDFC Bank and others): N/A (cash withdrawal is not permitted).
• Balance Inquiry Fees (HDFC Bank ATM and others): ₹10 plus applicable taxes/GST per transaction.
• Cash at POS Withdrawal Charges: N/A (cash withdrawal is not permitted).

Rewards, Offers & Partner Perks

• The card is generally associated with the potential for fuel-related rewards and discounts, which can help save money on fuel purchases. However, specific cashback structures or detailed reward programs for this card are not explicitly provided.
• The Prepaid Card NetBanking portal offers a feature to view and redeem reward points, which may apply to other HDFC Bank products managed through the same platform.

How to Apply & Load Money

How to Apply

• Online:
  • Visit the Prepaid SmartCard Solutions Portal.
  • Update contact details under the ‘Apply Now’ section, and an HDFC Bank representative will connect with you.
• Offline:
  • Apply for a MoneyPlus Petro Card via HDFC Bank Branches.
• Eligibility: All corporations engaged with HDFC Bank, whether new or established partners, can secure a MoneyPlus Petro Prepaid Card for their team members/employees.

How to Load Money

• Quick Load/Reload: Funds can be added through Enet.
• Direct Debit: Load/reload funds via direct debit to an HDFC Bank account.
• Cheques: Funds can also be loaded via cheques.

Prepaid Card Review

The MoneyPlus Petro Prepaid Card is an excellent solution for corporations looking to efficiently manage and track fuel expenses for their employees. Its exclusive acceptance at petrol pumps ensures that funds are used for their intended purpose, while the high balance limit and reloadable nature offer flexibility. The card's integration with NetBanking provides robust expense tracking and management tools.

• Pros:

  • Exclusive acceptance at all petrol pumps nationwide.
  • High balance limit of up to ₹2 lakh for Full KYC cards.
  • Personalised Visa/RuPay card with a 5-year validity.
  • Reloadable, offering flexibility and convenience.
  • Effortless monitoring and management of petroleum expenses through NetBanking.
  • Real-time SMS alerts for every transaction.
  • Easy balance checks at any Visa/RuPay ATM or via the Prepaid Card NetBanking portal.
  • Zero lost card liability once the loss is reported.
  • Quick load/reload options via Enet and direct debit.
  • Streamlines corporate financial transactions, ideal for reimbursements and incentive programs.

• Cons:

  • Strictly restricted to petroleum purchases; cash withdrawal and non-petrol expenses are not permitted.
  • Issuance and annual fees apply.

• Who should apply: This card is best suited for corporations of all sizes that wish to provide fuel allowances or reimburse fuel expenses to their employees in a controlled and transparent manner.

Important Product Details

• Card Name: MoneyPlus Petro Prepaid Card
• Issuing Bank: HDFC Bank
• Card Category: Corporate Prepaid Card (restricted to fuel purchases)
• Card Variant: Visa/RuPay prepaid card.
• Validity: The card remains active for five years, valid until the final working day of the month mentioned on the card.
• Security Features:
  • Designed exclusively for petroleum purchases, with restrictions on non-petroleum purchases.
  • Zero lost card liability once the loss is reported.
  • Instant updates on any changes to demographic details linked to the card.
  • Transaction alerts via SMS/email for every transaction.
• Management & Control:
  • Access to NetBanking services for easy expense tracking and card administration.
  • Ability to track balance, peruse transaction history, manage spending limits, subscribe to e-statements, alter PIN, and secure the card via the Prepaid Card NetBanking Portal.
• Key Restrictions: Cash withdrawal is not permitted, and non-petrol expenses are restricted.

Refund & Card Closure Terms

• Refund of Unused Amount: Yes, unused amounts on the card can be refunded. The request for a refund should be initiated by the corporate SPOC Admin to the Bank.
• Balance Transfer (Old to New Card): For balance transfers from an old card to a new card, the corporate SPOC Admin should liaise with the Bank to facilitate the request.
• Card Expiry & Replacement: The card is valid for five years. If the card expires with a balance, a replacement card can be issued. Requests for card replacement should flow to the Bank via the corporate SPOC Admin.
• Lost/Stolen Card: In case of loss, theft, or damage, it is crucial to inform HDFC Bank without delay and have the card blocked or hotlisted to prevent further misuse. This can be done through the Prepaid Card Net Banking Portal (under Account TAB >> Block lost/Stolen card) or by contacting Phone Banking service at 1800 1600/1800 2600. A replacement card will be issued.

Other Details

• Corporate Distribution: Cards are distributed one-time by the corporate.
• Demographic Details Update:
  • 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 (original documents for verification). Updates are processed within 7 working days.
• Password/PIN Management:
  • Prepaid Card NetBanking Portal Password: Sign in to the portal, navigate to 'Manage My Profile', select 'Change Password', and follow the prompts.
  • ATM PIN: After logging into the Prepaid Card NetBanking portal, change the PIN using the "Account" and 'Set ATM PIN' option.
• Card Statement: Statements can be obtained by logging into the Prepaid Card NetBanking portal, selecting "Account" >> "Request Statement" >> “Submit” >> Select Date Range >> "Submit".
• Unauthorised Transactions: Should any unauthorised transactions be detected, it is crucial to inform HDFC Bank without delay and have the card blocked or hotlisted by contacting Phone Banking service at 1800 1600/1800 2600.
• Most Important Terms and Conditions: Users are advised to thoroughly review the Most Important Terms and Conditions for the banking offering to fully understand the terms applicable to the card.