HDFC Bank MoneyPlus Prepaid Card – Benefits, Fees & Eligibility

Introduction

The MoneyPlus Prepaid Card is a personalized electronic prepaid card issued by HDFC Bank, primarily designed for corporate employees and business partners. It falls under the General Purpose Reloadable (GPR) category, offering a convenient solution for managing reimbursements, small salary credits, and incentives. Its primary value proposition lies in its corporate-friendly design, nationwide acceptance, and convenient reload options, streamlining financial transactions for businesses.

Prepaid Card Variant & KYC Tiers

• The MoneyPlus Prepaid Card is a reloadable card, allowing for easy reloads via ENet facility, direct debit, or cheque deposits.
• For full KYC cards, companies can load a maximum of ₹2 lakh.
• The card is compatible with Visa or RuPay networks, ensuring widespread acceptance.
• NCMC transit compatibility is not explicitly mentioned.

Balance & Transaction Limits

• Maximum Wallet Balance: Companies can load a maximum of ₹2 lakh for full KYC cards.
• Monthly Loading Limits: The maximum loading capacity for full KYC cards is ₹2 lakh.
• Daily POS/Online Transaction Caps: The card is accepted at all merchant outlets across India and can be used for online e-commerce transactions. Specific daily POS/online transaction caps are not detailed.
• ATM Cash Withdrawal Eligibility: Cash can be withdrawn from any Visa or RuPay ATM across India.
• ATM Cash Withdrawal Limits:
  • Maximum limit of ₹2,000 per day.
  • Maximum limit of ₹10,000 per month.

Fees and Charges

• Issuance Fee: ₹150 plus applicable GST.
• Annual Maintenance Charges: ₹150 plus applicable GST.
• Money Loading Fees: Not explicitly stated as a fee, but reloads are possible via ENet facility, direct debit, or cheque deposits.
• ATM Charges:
  • Cash withdrawal at HDFC Bank ATM: NIL.
  • Cash withdrawal at Non-HDFC Bank ATM:
    • For withdrawals up to ₹1,000: ₹20 + GST.
    • For withdrawals above ₹1,000: 1.85% of the withdrawal amount.
  • Balance Enquiry at HDFC Bank ATM: ₹10 + GST.
  • Balance Enquiry at Non-HDFC Bank ATM: ₹10 + GST.
• Inactivity Fee: The card will be made inactive by the bank if there is no financial transaction for a consecutive period of 12 months, after sending a notice to the cardholder. If inactive, the card will be temporarily blocked. To unblock, visit the Prepaid Card Portal or call Phone Banking. The card must be used before 12 AM on the day of unblocking, or it will be locked again.
• Card Replacement Fee: Re-issuance Charge is NIL. A replacement card is issued promptly in case of loss, theft, or damage.

Rewards, Offers & Partner Perks

• The card offers exclusive offers and discounts. Specific details on cashback structure, app-based rewards, merchant discounts, or sub-wallet benefits are not provided.

How to Apply & Load Money

How to Apply

• Corporates interested in availing the cards can offer this card to their employees.
• Application can be done through HDFC Bank Branches.
• Eligibility can be checked on the official website.
• Required documents can be submitted online or by visiting the nearest branch.

How to Load Money

• Easy card reloads are possible via ENet facility.
• Direct debit.
• Cheque deposits.

Prepaid Card Review

The HDFC Bank MoneyPlus Prepaid Card is an excellent solution for corporations looking to streamline financial management for their employees and business partners, particularly for reimbursements, small salary credits, and incentives.

• Pros:
  • Corporate-friendly and personalized for employees/partners.
  • Nationwide acceptance at all merchant outlets and ATMs (Visa/RuPay).
  • Convenient reload options (ENet, direct debit, cheques).
  • Real-time SMS alerts for every transaction.
  • Instant card balance checks at any ATM.
  • Zero lost card liability once reported.
  • Prompt replacement for lost, stolen, or damaged cards with no re-issuance fee.
  • Access to Net Banking and Phone Banking for card management.
  • Seamless digital transactions for online shopping.
  • Valid for five years.
• Cons:
  • Issuance and annual fees apply.
  • Charges for cash withdrawals and balance enquiries at non-HDFC Bank ATMs.
  • Card becomes inactive if unused for 12 consecutive months, requiring re-activation.
• Overall Value: This card offers significant convenience and control for corporate financial disbursements. It's ideal for businesses seeking a secure, trackable, and widely accepted payment method for their team members, reducing the administrative burden of traditional cash or bank transfers for smaller, recurring payments.

Important Product Details

• Positive Highlights:
  • Tailored for corporate employees and business partners.
  • Accepted at all merchant outlets and for online e-commerce transactions across India.
  • Cash withdrawal facility at any Visa or RuPay ATM.
  • Easy to load via ENet, direct debit, or cheques.
  • SMS alerts on all transactions.
  • Access to Net Banking and Phone Banking for card management.
  • Zero lost card liability once reported.
  • Prompt replacement card issuance with NIL re-issuance fee.
  • Card remains active for five years.
  • Hassle-free instant updates for demographic details (mobile/email online, address at branch).
• Negative Highlights:
  • Issuance fee of ₹150 + GST.
  • Annual fee of ₹150 + GST.
  • Charges for cash withdrawals and balance enquiries at non-HDFC Bank ATMs.
  • Card becomes inactive if no financial transaction for 12 consecutive months.
• Visa/Mastercard/RuPay Variant Availability: Available on Visa or RuPay networks.

Refund & Card Closure Terms

• Card Expiry: The MoneyPlus Prepaid Card remains active for five years, retaining its validity until the final working day of the month mentioned on the card.
• Card Replacement: A replacement card is issued promptly in case of loss, theft, or damage. The re-issuance charge is NIL.
• Surrender/Transfer Leftover Balances: Specific details on how to surrender the card or transfer leftover balances back to a bank account upon closure are not explicitly provided.

Other Details

• Card Tenure: The MoneyPlus Prepaid Card has a tenure of five years.
• Card Management & Controls:
  • Managed via the Prepaid Card NetBanking Portal.
  • Features include tracking balance, perusing transaction history, managing spending limits, subscribing to e-statements, altering PIN, and securing the card.
  • One unified platform for managing various HDFC Bank products (Credit Cards, Debit Cards, FASTag, Business Loans) is mentioned, but specifically for the MoneyPlus card, the Prepaid Card NetBanking Portal is the interface.
• Updating Demographic Details:
  • Mobile Number / Email ID: Can be updated instantly via the Prepaid Card Netbanking Portal under 'Manage My Profile' -> 'Contact Information' -> 'Edit', followed by OTP verification.
  • Address Update: Requires visiting the nearest HDFC Bank branch with a signed application for "Change in Address" and documentary proof of the new address (original documents for verification). Updates within 7 working days.
• Lost/Stolen Card: Promptly block the card through the Prepaid Card Net Banking Portal or by contacting Phone Banking service at 1800 1600/1800 2600.
• Unauthorized Transactions: Inform HDFC Bank without delay and have the card blocked or hotlisted by contacting Phone Banking service at 1800 1600/1800 2600.
• Eligibility: All corporations engaged with HDFC Bank, whether new or established, can secure a MoneyPlus Prepaid Card for their team members.
• Important Terms and Conditions: Specific terms and conditions govern the use of the card and are available on the bank's website. Prepaid Card approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification.