How To Transfer Money From Credit Card To Mobikwik App

In today’s digital economy which moves at break neck speed we see that transfer of money from credit cards to digital wallets like the Mobikwik app is a convenient option for users which seek financial flexibility. At the top of the digital wallet list in India is Mobikwik which allows for mobile recharges, bill payments and also online shopping. While direct credit card to wallet transfer is at times a issue because of regulatory or system issues, we have many work arounds. This article we go into the practical methods and detail step by step instructions on how to transfer money from a credit card to Mobikwik app.

Understanding Mobikwik’s Features and Limitations

How To Transfer Money From Credit Card To Mobikwik App

What Mobikwik Offers to Users

Mobikwik is a platform which we present to our users a smooth experience as they go about their day to day financial tasks. We enable them to load money into wallet, do UPI transactions, pay utility bills and book services through us. We support many payment options which include bank transfer, debit cards, net banking and credit cards for some services.

However we see that use of a credit card to top up the wallet is at times restricted or may include extra charges. Also this is a bid to prevent misuse as in some cases credit card to wallet transactions may go around the normal bank rules. Also it is important to know the right way to add funds to your Mobikwik wallet via credit card.

Regulatory Considerations

According to KYC (Know Your Customer) rules and RBI regulations direct wallet loads from credit cards may be limited or made off the mark. In case of full KYC Mobikwik accounts what we see is that they have a better play field and more access to features that include fund transfers. Should your account not be KYC verified you may experience issues when you try to do such transactions.

Ways to send money from credit card to Mobikwik.

Using Mobikwik Wallet Load Feature

Upon opening the Mobikwik app you are presented with a ‘Wallet’ or ‘Add Money’ section which allows you to load money into your account. This section features many payment options and may include credit cards.

Once you choose what you want to load onto your wallet, you may pay by credit card. We will ask you for your card info and to authenticate the transaction through an OTP or secure password after which the money will go into your Mobikwik wallet. But not all users have access to this feature. At times the app may put a stop to this option or may charge extra for credit card based wallet charges.

If this doesn’t work out or is limited in what it does, we have other indirect methods for transfer.

Alternative Route: Payment Gateway use.

Role of Third-Party Services

If you are experiencing issues with credit card transactions on Mobikwik try out third party services or payment gateways which may be of help. PayZapp, Freecharge, as well as some bank mobile apps are options which may work. You put in your credit card to add funds to these platforms and from there you can put it into your Mobikwik account.

For instance you can put money into your PayZapp wallet via credit card, then from PayZapp to your bank account. In Mobikwik you can use their UPI or net banking to put in the same money into your Mobikwik wallet. This may be a few more steps but it goes around direct restrictions and also out of the question high charges.

Using Credit Card on Recharge/Bill Payment

Another option is to go in through your credit card for recharges or bill payments on the Mobikwik platform. While this does not put money into your wallet that is a fact, what it does do is to use your credit card via the Mobikwik platform. Also over time we may see that Mobikwik puts out cashback or other incentives for people which use credit cards for such payments.

KYC and Credit Card Linking

Why KYC Is Crucial

KYC is a requirement by regulation also which is at the same time a gatekeeper for advanced features on Mobikwik. Upon completion of your KYC you get higher wallet limits, faster transactions, and also better access to link in financial instruments like credit cards and bank accounts.

Without having done the KYC your access to credit cards on Mobikwik is going to be very limited. In most cases until you complete your KYC wallet loads and credit card based transactions are out of question. We encourage users to put in their Aadhaar, PAN or other government issued ID to get full access.

Linking a Credit Card to Mobikwik

The process of adding a credit card to Mobikwik is easy. Go to the “Payment Methods” section within the app and add a new card. You will have to put in your card number, expiry date, CVV, and also get the app to confirm the transaction via an OTP which is sent by your bank. Once the card is added you can use it for recharges, bills and at times for wallet reloads.

Caution on Charges and Interest

Be Aware of Fees

While it is easy to use a credit card for Mobikwik, users should be careful of the fees which apply. Some wallet topups via credit card may see a charge of between 1.75% to 2.5% which varies by the issue bank and payment gateway. Always check for unexpected charges before you confirm the transaction.

Avoid Credit Card Debt

It is easy to put money into a credit card for liquidity but note that which is done through a wallet is treated as a cash transaction by some banks which in turn applies interest right away. As opposed to regular purchase which may have an interest free period we see with wallet top ups interest is applied immediately also along with cash advance fees. To avoid falling into debt put your credit card payments to zero on time and use these apps to watch your spending.

Conclusion

Trans into and out of your credit card onto the Mobikwik app we see it via two methods which although available do come with their issues and what we find is that by getting to know what the app does, using third party services, and that your account is verified for KYC you can do very well with these transactions. While credit card to Mobikwik does present a flexible option in which to play with your finance which also is true, do also take into account the charges and risks that come with it. With the right strategy and care that is put in, using your credit card with Mobikwik can very much be a profitable and effective choice.

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Karan Singh: Hi I am Karan a passionate blogger and i live in Delhi. It's almost 5+ years when I started blog writing in 2019. I am the owner of the Dailylist.in. My dedication to delivering reliable information and useful tips has earned him a loyal following among tech enthusiasts seeking reliable insights and recommendations.

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