HDFC Bank MoneyPlus Prepaid Card – Benefits, Fees & Eligibility

Introduction

The HDFC Bank MoneyPlus Prepaid Card is a personalised electronic prepaid card issued by HDFC Bank, specifically designed for corporate employees and business partners. It is positioned as a convenient solution for managing reimbursements, small salary credits, and incentives. Its key differentiating benefits include nationwide acceptance at merchant outlets and ATMs, easy reload options, and robust security features like zero lost card liability.

Fees

• Issuance Fee: ₹150 plus applicable GST
• Annual Fee: ₹150 plus applicable GST
• Re-issuance Charge: NIL
• Cash Withdrawal at HDFC Bank ATM: No charges (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
• All fees mentioned are exclusive of applicable taxes.

Rewards Redemption Guide

• Users can effortlessly view and redeem reward points with just a click via the unified platform. Specific details on how reward points are earned are not provided.

Card Eligibility Criteria

• Who Can Apply: Corporates interested in availing the cards can offer this card to their employees. All corporations engaged with HDFC Bank, whether new or established, can secure a MoneyPlus Prepaid Card for their team members.

Card Review

The HDFC Bank MoneyPlus Prepaid Card is an excellent tool for businesses seeking to streamline corporate financial transactions, particularly for employee reimbursements, small salary distributions, and incentive programs.

• Pros:
  • Corporate-Friendly: Tailored for corporate employees and business partners, simplifying financial management.
  • Widespread Acceptance: Accepted at all merchant outlets across India (in-store and online) and allows cash withdrawals from any Visa or RuPay ATM.
  • Convenient Reloads: Easy card reloads via ENet facility, direct debit, or cheque deposits.
  • Robust Security: Offers zero lost card liability once reported and prompt replacement in case of loss, theft, or damage.
  • Enhanced Control: Provides SMS alerts for every transaction, instant card balance checks, and a unified platform for spend tracking and card management.
  • Digital Access: Access to Net Banking and Phone Banking for easy administration.
• Cons:
  • Associated Fees: Incurs issuance and annual fees, along with charges for cash withdrawals and balance enquiries at non-HDFC Bank ATMs.
  • Vague Rewards: While "reward points" are mentioned, specific earning rates or categories are not detailed.
• Who Should Apply: This card is ideal for corporations partnered with HDFC Bank looking for an efficient, secure, and easy-to-manage prepaid solution for their employees' operational expenses, reimbursements, and incentives. It offers significant value in simplifying corporate payment processes.

Important Product Details

• Card Type: Personalised electronic prepaid card.
• Target Audience: Corporate employees and business partners.
• Purpose: Hassle-free management of reimbursement, small salary credits, and incentives.
• Acceptance: Accepted at all merchant outlets across India (in-store and online) and allows cash withdrawals from any Visa or RuPay ATM.
• Reload Options: Easy card reloads via ENet facility, direct debit, or cheque deposits.
• Transaction Alerts: Receive SMS alerts for every transaction in real time.
• Balance Check: Instant card balance checks at any ATM across India.
• Security Features:
  • Prompt issue for replacement card in case of loss, theft, or damage.
  • Zero lost card liability once reported.
• Digital Access: Access to Net Banking and Phone Banking on every card.
• Card Management: Unified platform for managing various HDFC Bank products (Credit Cards, Debit Cards, FASTag, Business Loans) and simple, intuitive interface to monitor and manage business expenses.
• Card Tenure: Remains active for five years, valid until the final working day of the month mentioned on the card.
• Maximum Loading Cap: Companies can load a maximum of ₹2 lakh for full KYC cards.
• Cash Withdrawal Limit (POS): Maximum limit of ₹2,000 per day and ₹10,000 per month for cash withdrawals at POS in India.
• Inactive Card Policy: Cards with no financial transaction for a consecutive period of 12 months will be made inactive by the bank after sending a notice. Inactive cards are temporarily blocked and require unblocking via the Prepaid Card Portal or Phone Banking.

Other Details

• Card Utility: Valid for a wide array of services and products, including shopping, dining, travel, bill settlements, entertainment, and more, at all merchant outlets for in-store or online purchases.
• Card Administration: Administer your card with ease via the Prepaid Card NetBanking Portal to track balance, peruse transaction history, manage spending limits, subscribe to e-statements, alter your PIN, and secure your card.
• Password Update: Sign in to the Prepaid Card NetBanking portal, navigate to 'Manage My Profile,' select 'Change Password,' and follow the prompts.
• Lost/Stolen Card: Promptly block the card through the Prepaid Card Net Banking Portal or contact Phone Banking service at 1800 1600/1800 2600 for immediate assistance.
• Unauthorised Transactions: Inform HDFC Bank without delay and have your card blocked or hot listed to prevent further misuse by contacting Phone Banking service at 1800 1600/1800 2600.
• Demographic Details Update:
  • Mobile Number / Email ID: Log in to the Prepaid Card Netbanking Portal, go to 'Manage My Profile,' then 'Contact Information,' select 'Edit,' and verify changes with an OTP. Updates are instant.
  • Address Update: Visit your nearest HDFC Bank branch with a signed application for "Change in Address" and documentary proof of your new address. Updates within 7 working days.
• Terms and Conditions: Users must thoroughly review the Most Important Terms and Conditions governing the use of the card.
• 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.