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3.17% profit on SBI Cashback Credit Card to Bank (new app)

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Finance Mentor
abhishek012
3.17% profit on SBI Cashback Credit Card to Bank (new app):

App link - https://play.google.com/store/apps/details?id=com.gimbooks.gimbookspay

Login/signup -

Aadhar otp based KYC is mandatory.

Set your bank account to receive payment.

Now choose "Tax" option category.

taxx1

Standard transfer - 1.83% charges only
Instant transfer - 2.01% charges only

Now use your 5% SBI Cashback credit card to pay -

Merchant name - Gimbookstax

taxx

Note - if you use first time payment then it will take sometime to credit (Instant transfer option).

After first payment, next time you will get Instant money in your bank account (if you use Instant transfer option).

Also note - dnt count Saturday, Sunday or bank holidays and first time try with Rs100.

Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
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Helpful Helpful
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Quite risky when it comes to playing with online transactions nowadays, as everything we do can be easily tracked.

Any day the IT dept can send us show cause notice and I think hardly any one of us will be able to justify such transactions. pensive

And it's more sad that these new apps pops up every now and then to lure use with such loopholes.

Overall, loopholes are also known even to the IT dept may be waiting to get bigger fishes 🥺

Finance Mentor Finance Mentor
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What do you mean hardly any one of us will be able to justify such transactions ?

Simply told them you are doing your credit card to bank transfer to earn some cashback and also share the app name, you already signup through your aadhar otp.

Everything is on record, you're not doing anything wrong.

Also remember that all the cashback is not enough to pay income tax.
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Deal Subedar Deal Subedar
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No option of "tax" is showing. Please help me which option to select

Comrade Comrade
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Gim books transaction failed @abhishek012

They are asking to add another bank account

Finance Mentor Finance Mentor
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So ? what's the issue ? Add another bank account, maybe your bank server was down.
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Deal Newbie Deal Newbie
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Is it still working..

?

Deal Newbie Deal Newbie
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What is the MCC...??

Deal Newbie Deal Newbie
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Kyc is not happening...it is throwing inter server error.. can someone help

Crowdpuller Crowdpuller
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Facing kyc issue

Finance Mentor Finance Mentor
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Talk to customer support.
Deal Cadet Deal Cadet
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Charges increased from 1.7% to 1.8% for tax category 

Finance Mentor Finance Mentor
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Now kyc issue solved.

Update the app, They changed their third party vendor for aadhar kyc.

Deal Cadet Deal Cadet
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@abhishek012

What will be cashback %, if used swiggy HDFC CC for transaction on this app.

Finance Mentor Finance Mentor
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0% 😀
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Post Mogul Post Mogul
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Is it still working? Bcoz I can't find Tax option.

Deal Cadet Deal Cadet
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Click on make payment. Tax options comes later

Crowdpuller Crowdpuller
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Made a payment of 3500 , it's showing in progress although I chose instant settlement. It's showing 48 hours

Deal Cadet Deal Cadet
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Sometimes it takes time to settle. Do not worry it should get credited in 4-5 hour.

Happened with mine transaction as well.

replyuser
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