Rupay Prepaid Cards : Best way to start digital banking

Hello friends, I am back once again with one of the hot topic in the Banking World from last few months. Well i am talking about Rupay Prepaid Cards. Many people don't know anything about Rupay Prepaid Cards and that's why there are not interested using them. So i am here to tell you each and everything about the Rupay Prepaid Cards.

First of all let's see what the Rupay Prepaid Card can actually do? 

Rupay Prepaid cards can do anything that your Banks Debit Card do for you. You can pay utility bills (Water,Electricity,Mobile etc), pay money at petrol pumps, use this card at anywhere that has POS device, and last but not the least you can withdraw cash from any ATM near you. So this card simply can do everything that a Debit card can do. You can also do payment on e-commerce sites like Flipkart, Amazon, Snapdeal, PayTm, and many other shopping sites. well this card does everything that a Debit card does then what is the need of introducing such card in the banking system. So let's answer this first.

Why i need Rupay Prepaid Cards when i have my Bank's Debit card?
Yes i already told you that this card does the same thing that a debit card do and this is very obvious for everyone to know why we need Rupay Prepaid Card when we already have Debit card. So the logic behind introducing Rupay Prepaid cards is to encourage more and more people to use Digital Banking as the Card has a upper limit of Rs.10,000 at a time, that mean one can not have more than Rs.10,000 in this card. This simply mean the user of Rupay prepaid card can not make transaction of more than Rs.10,000 at a time. This will reduce the risk of fraud that discourage people using Debit Card or ATMs. This is an add-on Card that you can give to anyone in your family and friends instead of giving cash. You will be given a different Account Number that is linked with your Rupay Prepaid Card. You can just deposit some amount less than or equal to Rs.10,000/- and use your prepaid Card anywhere anytime. You can give this Rupay Prepaid card to the school or college going students or to the old age people in the family which will be more safe way to carry money for them. Now the question arise that Is there any charges for using this Rupay Prepaid Cards? So let's find out.

Is there any Annual Charges for using Rupay Prepaid Cards?

For the first year there is no charge for using the Rupay Prepaid Cards after that Rs.100+18% GST i.e. Rs.118 for one year. This is not a big deal for many of us and we should start using the Rupay Prepaid Card to be a part of making India a Digital and cashless Economy.

Benefits of using Rupay Prepaid Cards :-

1. Can be used anywhere anytime just like the Debit cum ATM Cards.
2. Can be given to School/College going Students and recharge every month instead of giving Pocket money in cash.
3. The risk of online fraud is very less as the maximum upper limit of the card is Rs.10,000/- at a time while in case of Debit Card, the upper limit is your Account Balance.
4. You can have this Rupay Credit card by providing minimum KYC detail.
5. No Annual fee for the first year, so you can give the Rupay Prepaid Card a try.

So this is all about the Rupay Prepaid Cards, Hope you like this post. Do comment your views and suggestion on this Post. I will be back with more new post like this so stay tuned with me, to get updates about the new post do like my Facebook Page, subscribe to my Youtube channel.