Mobikwik charges 2.95%?

[pleasegiveltf]

When I open the app, Mobikwik says the convenience fee to load wallet from credit card is 2.5%. Others here say the same (or sometimes 2.36%).

When I try to load however I'm being charged 2.95%. What's the actual amount chargeable by Mobikwik?

 

[SSV]

When I open the app, Mobikwik says the convenience fee to load wallet from credit card is 2.5%. Others here say the same (or sometimes 2.36%).

When I try to load however I'm being charged 2.95%. What's the actual amount chargeable by Mobikwik?

2.95 for me all the time..
It is like this : 2.5 + 18% GST = 2.95%

 

[pleasegiveltf]

Wow I've already added like tens of thousands of rupees thinking it's 2.5%! I didn't check the total. Now I did and it's indeed 2.95%.

Damn.

 

[D₹V]

Wow I've already added like tens of thousands of rupees thinking it's 2.5%! I didn't check the total. Now I did and it's indeed 2.95%.

Damn.

Kam se kam LTF word ki to beizzati nhi karwate 😞

 

[unusedbrain1]

When I open the app, Mobikwik says the convenience fee to load wallet from credit card is 2.5%. Others here say the same (or sometimes 2.36%).

When I try to load however I'm being charged 2.95%. What's the actual amount chargeable by Mobikwik?

Rupay * Bharat pe . merchant - 2%

 

[abhiver]

Century code is showing me cashback of up to Rs. 50 only.

How many times I can use the code?

 

[SSV]

Century code is showing me cashback of up to Rs. 50 only.

How many times I can use the code?

As many times as you want

 

[helloworld]

Wow I've already added like tens of thousands of rupees thinking it's 2.5%! I didn't check the total. Now I did and it's indeed 2.95%.

Damn.

tens of thousands without knowing actual deduction amount from account. we should respect money we earned!

 

[Nilanchal]

As per t&c, If we load upto 2.5k via CC mobikwik wallet then there's no charge.
Can anyone confirm that upon adding the money via cc, can we transfer the amount to bank ?
I am a full kyc user

 

[Raun]

As per t&c, If we load upto 2.5k via CC mobikwik wallet then there's no charge.
Can anyone confirm that upon adding the money via cc, can we transfer the amount to bank ?
I am a full kyc user

1. The limit to load with CC without charges is Rs 1000 only.
2. Yes you can transfer from wallet to bank with no charges.

 

[NShah]

1. The limit to load with CC without charges is Rs 1000 only.
2. Yes you can transfer from wallet to bank with no charges.

Per month 🙃

 

[Raun]

Per month 🙃

Roger that !

 

[Nilanchal]

1. The limit to load with CC without charges is Rs 1000 only.
2. Yes you can transfer from wallet to bank with no charges.

Per card 1k ? Or for cc category 1k ?
If I hv 7 cards, I can transfer 1k each or 1k whole ?

Edit- Just checked, it is for whole cc category not for each card

 

[pleasegiveltf]

tens of thousands without knowing actual deduction amount from account. we should respect money we earned!

Missed the GST. Happens. 🙂
My reward rate was 5%, so it didn't matter if it was 2.5% or 2.95%

 

[SSV]

Missed the GST. Happens. 🙂
My reward rate was 5%, so it didn't matter if it was 2.5% or 2.95%

Which card @5% rewards for wallet load?
Don’t tell it’s Amex..

 

[pleasegiveltf]

Which card @5% rewards for wallet load?
Don’t tell it’s Amex..

Why not Amex?

Plat Travel: 29,200 MR points for 4L spend -> 5% if you redeem with Gold collection

This is not even counting the Taj Voucher which I don't value at ₹10,000.

 

[SSV]

Why not Amex?

Plat Travel: 29,200 MR points for 4L spend -> 5% if you redeem with Gold collection

This is not even counting the Taj Voucher which I don't value at ₹10,000.

What I meant, We already know about Amex. Tell us if it is other than Amex

 

[helloworld]

Missed the GST. Happens. 🙂
My reward rate was 5%, so it didn't matter if it was 2.5% or 2.95%

It is vey important for me to know that If I'm getting reward rate as 2.05% after deducting GST from 5% reward rate card.

And, if I consider 5% opportunity cost with gold collection, then it becomes 1.95%. Still good to know that.

And, if I consider paying atleast half of the annual fee due to no fee waiver on my card, then my reward rate will be with gold collection -0.7%. Which is very important for me to know and plan accordingly.

Still, if I considered all of this as a free money and just for enjoying the benefits, one thing I need to understand that I'm paying every month from my bank account to this credit cards (literally tens of thousands of rupees) to accumulate points over the years to get -ve % by sacrificing the interest.

Anyway, thats me. I'm that person who wants to know where money goes, and why that statement showing that balance by each rupee.

 

[pleasegiveltf]

If I'm getting reward rate as 2.05% after deducting GST from 5% reward rate, it is important to me to know.

Also, if I consider 5% opportunity cost with gold collection, then my reward rate will be 1.95%. Stil need to know.

And, if I consider paying atleast half annual fee due to no fee waiver, then my reward rate will be with gold collection -0.7%. Which is very important for me to know.

Still, if I considered all of this as a free money and just for enjoying the benefits, still need to pay every month from my bank account to accumule X years with multiple puchases (literally tens of thousands rupees of puchases) for these rewards which can go -ve % if not properly understood.

Anyway, thats me. I'm very much like to know where my money goes, even 1Rs. in my monthly statement. Again, its just me.

"I'm very much like to know where my money goes, even 1Rs. In my monthly statement"

I'm the same as you. Literally have an app to track every outgoing rupee (even a small snack) and if the balance on my app doesn't match the balance on my account, I spend the time to see what I missed.

I'm just saying that no matter how obsessed you are about tracking, shit like this happens and it doesn't mean someone doesn't respect the money the earned, that's all.

This particular instance happened twice, before I could tally the balances as per my tracking and the actual balance in my card a/c, which happens about once in a week or once in two weeks.

 

[helloworld]

"I'm very much like to know where my money goes, even 1Rs. In my monthly statement"

I'm the same as you. Literally have an app to track every outgoing rupee (even a small snack) and if the balance on my app doesn't match the balance on my account, I spend the time to see what I missed.

I'm just saying that no matter how obsessed you are about tracking, shit like this happens and it doesn't mean someone doesn't respect the money the earned, that's all.

This particular instance happened twice, before I could tally the balances as per my tracking and the actual balance in my card a/c, which happens about once in a week or once in two weeks.

Good to know that, then you're on track and in future will figure out easily if anything goes sideways.

Above post meant to be those who spends thousands of rupees without knowing proper break-up of a purchase and entering OTP without checking transaction amount.