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Mobikwik to charge inactive users between Rs 100 and Rs 140 as maintenance fee

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Analyst
hotchap

Mobikwik, the e-wallet service is going to charge inactive consumers for “wallet maintenance charge” anywhere between Rs 100 and Rs 140. This is the first time in the Indian market that an e-wallet service is going to do so.

The new policy was rolled out on Sunday evening and stands effective immediately. The charge will be levied if a user fails to reactivate the wallet after a seven-day notice period. Mobikwik executives said it will refund the money if a user reactivates the wallet even after the maintenance fee has been debited and does a transaction.

The move is already being criticized by the users. Chandan Joshi, who was made co-founder and CEO of payments business at Mobikwik last year, said, “We will charge you if you don’t even come back to the app and log in. If you come back even within 40 days of deduction of the maintenance charge, we will refund it to you,” said Joshi. He said the notification has currently gone to users who have been inactive for four-five years.

As per RBI’s rules, it is up to e-wallets to decide if they want to levy a charge on users for inactive wallets but a consumer can still complain to the regulator since this was not the policy when they joined the service, said the industry executives.

Mobikwik had a minimum transaction size of Rs 100 to reactivate wallets, but answering a query by Times Of India, Joshi said it is in the process of doing away with any minimum transaction size, based on consumer feedback.

“There are a lot of costs associated with maintaining these wallets. We are allowed to report inactive accounts to RBI but we can delete them only three years after reporting them. So, we have to start cleaning up accounts, we have to streamline everything for the future,” Joshi said.

He added the company’s intent is not to charge users but to filter out the inactive users. Mobikwik claims to have around 100 million users but industry sources estimate 70-80 million active e-wallet users across platforms.

Mobikwik’s major competitors such as Paytm, PhonePe don’t have any such policy and neither of them charges their customers for inactive wallets.

Source: https://www.themobileindian.com/news/mobikwik-t...

43 Comments  |  
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Entertainer Entertainer
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Is there any Delete Wallet option?

Analyst Analyst
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saucap wrote:

Is there any Delete Wallet option?

we can close the account

Deal Cadet Deal Cadet
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Time to give mobikwik there annual ratings

Blogger Blogger
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saucap wrote:

Is there any Delete Wallet option?

Write to @ mobikwikSWAT on twitter.
They will confirm after closure.

Deal Subedar Deal Subedar
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hotchap wrote:

we can close the account

Already closed when they introduced supercash 😀😀

Deal Subedar Deal Subedar
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Maintenance as in jhadu , pochaa , katka ?

Super Moderator Super Moderator
Moderator
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Abhi Bipin Paaji ko doosra jhatka lagne wala hai…
Pahla jhatka 2013-14 mein lga tha jab janaab ek dimer ke ghar pahunch gaye thae loot ki trick pta krne (aisa sunne me aya tha)

Blogger Blogger
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I really didn’t get it, my wallet balance is ZERO, but actively use supercash now and then, do recharge and all, is it worrisome?

Deal Captain Deal Captain
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instead of charging just close the inactive wallets rage

Deal Captain Deal Captain
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cm4444 wrote:

Abhi Bipin Paaji ko doosra jhatka lagne wala hai…
Pahla jhatka 2013-14 mein lga tha jab janaab ek dimer ke ghar pahunch gaye thae loot ki trick pta krne (aisa sunne me aya tha)

flushed is this true
Deal Lieutenant Deal Lieutenant
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bc sab mile hue h. Sabko lootna h public ko.

Deal Subedar Deal Subedar
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Inactive means user not using it, then how come they charge. May be they will place COD.

Deal Cadet Deal Cadet
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indirectly they are asking for ratings in play store grinning

Deal Subedar Deal Subedar
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What if there is zero balance in wallet? Does this mean it will start accumulating negative balance for non-maintainence just like bank accounts?
This is scary

Blogger Blogger
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almost all accounts will be active if they provide 10rs CB on min.10Rs recharge/bill payment offer for every month smile

Deal Lieutenant Deal Lieutenant
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ssganesh wrote:

almost all accounts will be active if they provide 10rs CB on min.10Rs recharge/bill payment offer for every month smile

Haha..

Super Moderator Super Moderator
Moderator
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desiman wrote:
flushed is this true

Yes, search on DD you might find the incident details.

Also unable to find the ID of mobikwik CEO else would have tagged that चोर in this thread… (Remember how he cheated so many in the Nokia Lumia deal)

(He is on DD 100% sure)

@mobikwik Managed to find their official rep but not the ceo

Deal Subedar Deal Subedar
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Great News! Looking forward to this shitty company to be shutdown soon. smile grinning

Deal Captain Deal Captain
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MrKool_JJ wrote:

Y this kolaveri di?
@AyushiiiVijay confused rolleyes
#AA_JJ hushed

where from they will charge in zero balance wallet ?

Deal Cadet Deal Cadet
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Why charge!! just close it. We don’t mind..

Deal Subedar Deal Subedar
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After that.. active would be charged too :-p .. Fee like SMS fee/Annual maintenance fee

Deal Subedar Deal Subedar
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Astraa wrote:

where from they will charge in zero balance wallet ?

You forgot the negative balance

Deal Lieutenant Deal Lieutenant
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Better to uninstall mobikwik.

Post Tycoon Post Tycoon
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If you balance and u arr inactive say for 6 months, they will charge.

Post Tycoon Post Tycoon
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Nighthawk69 wrote:

Why charge!! just close it. We don’t mind..

As per RBI, it cannot be closed without customer’s request before 3 yrs inactive.

Deal Cadet Deal Cadet
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shreyu2105 wrote:

As per RBI, it cannot be closed without customer’s request before 3 yrs inactive.

rolleyes
Analyst Analyst
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ssganesh wrote:

almost all accounts will be active if they provide 10rs CB on min.10Rs recharge/bill payment offer for every month smile

i think recently they started giving 10pe10 code every month

Missing