[WALLET ENCYCLOPEDIA] Bank Transfer Limits and Charges For Various Wallets (Comments Welcome)

@rajrocks wrote:

Bro @DealSeeker Received this response: “amount will be credited in your respective bank account within 5-7 bank working days.” any ideas will it reflect in this time frame in my prepaid card.

Bro, you panic a little too much and, as a result, ask the same questions again and again. Yes, as I told you a few weeks ago, the refund to the prepaid gift cards get reflected within a few days just like any other CC/DC.

@DealSeeker wrote:

@rajrocks wrote:

Bro @DealSeeker Received this response: “amount will be credited in your respective bank account within 5-7 bank working days.” any ideas will it reflect in this time frame in my prepaid card.

Bro, you panic a little too much and, as a result, ask the same questions again and again. Yes, as I told you a few weeks ago, the refund to the prepaid gift cards get reflected within a few days just like any other CC/DC.

@rajrocks wrote:

bro pmed u the reason

Responded via PM. Moreover, for the benefit of everybody else, if any refund doesn’t get reflected within 7 days to your CC/DC/GC/VCC then you should contact the merchant (Freecharge) for a follow up and also contact the card’s issuing bank (Axis).

One thing which is not widely known is that every transaction gets an authorization id, which is visible to the merchant and the bank but not to the customer.

In your case, since Freecharge has acknowledged the problem with the transaction and has issued a refund, iff the refund doesn’t come after 7 days, you should get that authorization id from them. Then you can contact Axis bank, give them the authorization id, and ask them to process the refund promptly.

Hope this helps.

@DealSeeker wrote:

Hope this helps.

yup. thx bro.

Getting error on Freecharge after entering otp generated for withdrawing money to bank ‘’Invalid otp id. Please regenerate OTP by going back or try again after sometime !’’

Any help would be appreciated guys

@i am indian wrote:

Getting error on Freecharge after entering otp generated for withdrawing money to bank ‘’Invalid otp id. Please regenerate OTP by going back or try again after sometime !’’

Any help would be appreciated guys

I had wallet balance of 1000 & was trying to transfer 1000. But failed several times Yesterday & today.
then instead of 1000 i tried 950. It got successfully transferred.

Solution : Try keeping some 1rs-10rs in wallet & rest transfer to your bank a/c. Just test it out what’s minimum balance they are expecting. Then we will update the main thread so other people will not face the same issue as we did.

Update : Keep minimum 1rs balance in wallet. don’t transfer full wallet amount to bank. Verified by me"
@DealSeeker Should i update above thing to our excel file ?

Tag me so that i will get notified.

@gurucoupon wrote:
…
Update : Keep minimum 1rs balance in wallet. don’t transfer full wallet amount to bank. Verified by me"
@DealSeeker Should i update above thing to our excel file ?
…

My transactions were also failing. I have tried 3-4 times over the last few days so if it works now then we will know for sure that it was because of this unofficial restriction. Let me try this workaround and get back to you.

Update at 7:52pm: @gurucoupon Didn’t work. Left 10 in the wallet. Transaction was successful (like before) and then it was reversed. Perhaps what I am trying to do is simply not possible.

@gurucoupon wrote:

@i am indian wrote:

Getting error on Freecharge after entering otp generated for withdrawing money to bank ‘’Invalid otp id. Please regenerate OTP by going back or try again after sometime !’’

Any help would be appreciated guys

I had wallet balance of 1000 & was trying to transfer 1000. But failed several times Yesterday & today.
then instead of 1000 i tried 950. It got successfully transferred.

Solution : Try keeping some 1rs-10rs in wallet & rest transfer to your bank a/c. Just test it out what’s minimum balance they are expecting. Then we will update the main thread so other people will not face the same issue as we did.

Update : Keep minimum 1rs balance in wallet. don’t transfer full wallet amount to bank. Verified by me"
@DealSeeker Should i update above thing to our excel file ?

Tag me so that i will get notified.

@DealSeeker wrote:


…

Update at 7:52pm: @gurucoupon Didn’t work. Left 10 in the wallet. Transaction was successful (like before) and then it was reversed. Perhaps what I am trying to do is simply not possible.

If you don’t mind, pm me. I am sure you’re doing something tricky.

Update : For me i did 950 first and 49 later. Both successfully transferred to my bank a/c. So i’ll suggest to try my bank a/c.

@Dr Anshuman wrote:


…
But I was able to transfer the complete amount everytime! To be clear I did nt face any errors in the first place.

Even i was also able to do full transaction till 2 days back. I think from last 2 days they might have changed something.

@gurucoupon wrote:

@Dr Anshuman wrote:


…
But I was able to transfer the complete amount everytime! To be clear I did nt face any errors in the first place.

Even i was also able to do full transaction till 2 days back. I think from last 2 days they might have changed something.

Guys..can someone please urgently help me regarding PayU wallet. I had loaded money with debit card on 22nd Sep afternoon. Since its been more than 1 week now (today is 29th Sep), I am trying to withdraw the money to a different savings bank a/c. I am withdrawing less than Rs 5000, while the amount I had deposited was more than Rs 5000. I am getting an error saying you can withdraw only Rs 600 :O Can someone help me understand what’s going on??

@mayur.enrique669 wrote:

Guys..can someone please urgently help me regarding PayU wallet. I had loaded money with debit card on 22nd Sep afternoon. Since its been more than 1 week now (today is 29th Sep), I am trying to withdraw the money to a different savings bank a/c. I am withdrawing less than Rs 5000, while the amount I had deposited was more than Rs 5000. I am getting an error saying you can withdraw only Rs 600 :O Can someone help me understand what’s going on??

Just a guess. Might possible that their week starts from 23rd, so will end on 29th 23:59pm. So either try today or better by tomorrow. I’m guessing that you’ve 5600 rs wallet balance out of which 600 is only eligible.

@rajrocks wrote:

@DealSeeker wrote:

Hope this helps.

yup. thx bro.

@DealSeeker wrote:

Hey bro, it’s been more than 7 days now. Can you give us an update on whether you have received the refund on your Axis prepaid card for the failed Freecharge transaction or not?

bro, just now chked n its credited. thank god. exactly took 8 days including debit and credit. what happened? similar situation?

@rajrocks wrote:

bro, just now chked n its credited. thank god. exactly took 8 days including debit and credit. what happened? similar situation?
IMG: https://i.imgur.com/gYEmI...if

No, bro. As I mentioned, I have already gone through this refund process many times. I asked you to confirm because you were very concerned about the refund process for this prepaid gift card and even @DealLooter had his doubts about the refunds for VCCs. I am glad that we now have a fully documented case of successful refund on this forum for GCs. Now if anybody asks, I can just forward them to this post.

Just to be clear, I never had a doubt about the refunds.

@DealSeeker wrote:

No, bro. As I mentioned, I have already gone through this refund process many times. I asked you to confirm because you were very concerned about the refund process for this prepaid gift card and even @DealLooter had his doubts about the refunds for VCCs. I am glad that we now have a fully documented case of successful refund on this forum for GCs. Now if anybody asks, I can just forward them to this post.
Just to be clear, I never had a doubt about the refunds.

oh ok. never doubted u bro. but one thing i can say is that if u have a single exp than it makes a lot of diff. first time everyone panics coz its their first time right. anyways had doubt on prepaid card coz of one post by a exp person & a statement that prepaid card cant be re-loadable made me panic a lot. but now i will be happy to face error txns. thx to u n others.

@DealSeeker @gurucoupon guys do u have any idea on how the monthly cycles are for these wallets? I mean like if we do a load in mid month and till next mid month we cant load or its taken irrespective of dates and the normal monthly calendar is being followed. any info?

@rajrocks wrote:

@DealSeeker @gurucoupon guys do u have any idea on how the monthly cycles are for these wallets? I mean like if we do a load in mid month and till next mid month we cant load or its taken irrespective of dates and the normal monthly calendar is being followed. any info?

For every wallet I have used, monthly limits are as per the calendar month, i.e. from 1st to the 28th, 29th, 30th, or the 31st of the month.

@DealSeeker wrote:

@rajrocks wrote:

@DealSeeker @gurucoupon guys do u have any idea on how the monthly cycles are for these wallets? I mean like if we do a load in mid month and till next mid month we cant load or its taken irrespective of dates and the normal monthly calendar is being followed. any info?

For every wallet I have used, monthly limits are as per the calendar month, i.e. from 1st to the 28th, 29th, 30th, or the 31st of the month.

Edit : sorry my bad.. I was talking about withdrawal

Guys, I want to add another column in the spreadsheet to clarify the “Mode of Withdrawal” (NEFT/IMPS). Please contribute.

This will be useful to identify wallets with quicker withdrawals. Also, as you know, IMPS is available 24×7, while NEFT is available only during extended business hours.

BCC: People who have participated in this thread actively.

@DealSeeker wrote:

Guys, I want to add another column in the spreadsheet to clarify the “Mode of Withdrawal” (NEFT/IMPS). Please contribute.

This will be useful to identify wallets with quicker withdrawals. Also, as you know, IMPS is available 24×7, while NEFT is available only during extended business hours.

BCC: People who have participated in this thread actively.

I’ve used Paytm,Mobikwik,Oxigen,Freecharge, PayUMoney & all are IMPS.

I feel wallet nature will be imps only. Not sure. SBI Buddy might be an exception

cc : @Magus

@gurucoupon I am aware that Shmart uses NEFT.

@DealSeeker wrote:

Guys, I want to add another column in the spreadsheet to clarify the “Mode of Withdrawal” (NEFT/IMPS). Please contribute. BCC: People who have participated in this thread actively.

Shmart – NEFT – Within 24 hours (mostly next business day).

PayU – NEFT – Within a few hours if done during the business hours mentioned on their site. It’s till 5.30 5.00 pm on weekdays and 11.30 am on Saturdays. I don’t know if they allow transfer after business hours nowadays (not allowed previously). It’s been a long time since I transferred money from PayU wallet to bank. Someone else should enlighten us here.

State Bank Buddy – IMPS available but have never tried it.

Will add more as and when I get the details.

@DealSeeker wrote:

@gurucoupon I am aware that Shmart uses NEFT.

oks boss. Paytm,Freecharge,Mobikwik. – 100%. Because i’ve done some transaction at mid-night.

@gurucoupon wrote:

I’ve used Paytm,Mobikwik,Oxigen,Freecharge, PayUMoney & all are IMPS.

I feel wallet nature will be imps only. Not sure. SBI Buddy might be an exception

Are you sure PayU does it via IMPS? Because in those days I utilized their transfer service (immediately after they launched it), they had a timetable for such txns. It clearly showed the mode was NEFT.

EDIT: They must have revised the timetable now according to the new bank working days as regulated by the RBI. Since they started not allowing the money credited via CC to be transferred, I stopped using their transfer service.

@gurucoupon wrote:

@DealSeeker wrote:

@gurucoupon I am aware that Shmart uses NEFT.

oks boss. Paytm,Freecharge,Mobikwik. – 100%. Because i’ve done some transaction at mid-night.

CITRUS NEFT

@GoogleCA wrote:

CITRUS NEFT

Thanks for the reminder. Yes, Citrus works exactly like Shmart.

CC @DealSeeker

@Magus wrote:

@gurucoupon wrote:

I’ve used Paytm,Mobikwik,Oxigen,Freecharge, PayUMoney & all are IMPS.

I feel wallet nature will be imps only. Not sure. SBI Buddy might be an exception

Are you sure PayU does it via IMPS? Because in those days I utilized their transfer service (immediately after they launched it), they had a timetable for such txns. It clearly showed the mode was NEFT.

EDIT: They must have revised the timetable now according to the new bank working days as regulated by the RBI. Since they started not allowing the money credited via CC to be transferred, I stopped using their transfer service.

My last transfer from PayUmoney was via NEFT and that was in August.

@gurucoupon When did you last transfer from payU?

@1cooldesidd wrote:

@Magus wrote:

@gurucoupon wrote:

I’ve used Paytm,Mobikwik,Oxigen,Freecharge, PayUMoney & all are IMPS.

I feel wallet nature will be imps only. Not sure. SBI Buddy might be an exception

Are you sure PayU does it via IMPS? Because in those days I utilized their transfer service (immediately after they launched it), they had a timetable for such txns. It clearly showed the mode was NEFT.

EDIT: They must have revised the timetable now according to the new bank working days as regulated by the RBI. Since they started not allowing the money credited via CC to be transferred, I stopped using their transfer service.

My last transfer from PayUmoney was via NEFT and that was in August.

@gurucoupon When did you last transfer from payU?

Are yaar i did it last month. & It was around 9:30pm. It was transferred. But now when somebody mentioned , i think might be they have changed policy. That’s why i’ve already updated my previous post.