Muthoot Mini Smartpay is an innovative credit card instrument that gives you many features and benefits. Most importantly, it offers a one-time free cash withdrawal from your current account by card when using the ATM or POS machine. This facility is designed to increase convenience, minimise hassle, relieve financial stress, and make banking easy for everyone.
This blog post will discuss some of the critical highlights of the Muthoot Mini Smartpay offering, such as its benefits offered to users. If you are considering applying for this offer, consider reading through this blog post to learn more about the product before you use it.
Table of Contents
What is Muthoot Mini Smart Pay?
Muthoot Mini Smart Pay is a credit card instrument with a one-time free cash withdrawal facility to load money in the form of cash at the ATM or POS machine. This facility is called “My Free Cash” and is available only on request to withdraw up to ₹500/- per day, three times a month, upto ₹5,000/- per month.
As the name indicates, this offer is for those looking for a quick and convenient way to load money into their Muthoot Mini Smartpay account. Unlike regular credit cards, it offers the facility of withdrawing cash from the ATM or POS machine when you use the card, and it doesn’t provide any facility for loading money with your card at ATMs or POS machines.
The only limit on this product is that you cannot withdraw more than ₹500/day, ₹3 times in a month. Also, it is essential to note that this facility will not be available in all cities and states.
Is muthoot mini smartpay safe?
The answer to this question is YES. All the transactions made on muthoot mini smartpay are safe as all the transactions happen over your existing card number, which a bank issues. Also, everything happens online and at security bulk centres.
Where can I use muthoot mini smart pay?
Usually, a customer can use this product at any ATM of his choosing. Once the money is loaded into your account, the service will be available. However, ATMs are not available in certain places, namely in airports, hotels, and casinos. The service is also not present in all banks (based on your bank’s policies), and you may need to contact their customer care to confirm its presence or absence in their jurisdiction.
This service isn’t always available in all locations, but if it happens, you will see your card showing on a green screen, which means that it has been enabled for cash withdrawal from ATMs.
As the name suggests, muthoot mini smartpay is a product meant to help you whenever you need it. It doesn’t come with additional costs whether you use it or not.
How will Your money be transferred?
Unlike other cards that offer loading facilities at various bank branches, the money on muthoot mini smartpay will be transferred to your account directly after you successfully withdraw cash through a chosen machine. There is also no minimum amount needed to start this service, and all you need is only ₹2000/-, which can be thought of as a first deposit if you don’t require too many privileges on this card.
How can I apply for muthoot mini smartpay?
You can apply for this card through the website, their helpline, or the nearest Muthoot office. You need to bring your original ID proof, address proof, and your bank account details to finish the formalities. Remember that you will also be required to provide a photocopy of each of these documents while applying. After that, you will need to fill out a form with your name, date of birth, PAN, etc. After submitting all the required documents, photographs, and signatures and receiving all the necessary permissions, your card will be ready in 5-10 days.
What are the features of muthoot mini smartpay?
1. Get a Credit Card
To apply for this credit card, you need to provide basic details such as name, gender, date of birth, address, telephone number, and email so that they can get in touch with you and verify your identity before issuing the card. You will also be asked to complete a short form that includes the reason behind applying for this credit card, and they will then give a Mastercard from their security system.
2. ATM & POS Cash
Once you receive your card, you can start using it by visiting any ATM in India which accepts Mastercard. You can also use it at the POS machines that accept Mastercard, and the card will now be used as a cash card instead of a regular credit card.
3. Cash Withdrawal Restriction
Currently, Muthoot Mini Smart Pay card users can withdraw cash from the ATM only once per day, and whatever amount they withdraw, they can’t exceed ₹500/- per day and ₹3 times within a month. After trying to withdraw more cash than this limit, the bank will deny your request. However, you can try again after 30 days.
4. Daily Account Statement Access
The bank will send you an email after every 1st, 7th, and 14th of every month that includes all the transactions made during the previous month, including your current balance at the end of the month. You will also be able to access your account through online banking.
5. Contact Customer Care
If you are having any difficulty using your card, you can contact them through any online and offline services such as toll-free numbers, emails, and even WhatsApp. They will assist you with any queries related to this product.
6. Check Balance
From time to time, you will be able to check your card balance online. You can also access your account statement through the online banking services of Muthoot mini smart pay. The monthly reports will also be sent within 6-10 days of the transaction dates.
7. Complaints and Cancellation Policy
If you are not satisfied with the service, you can contact customer care, and they will be in a position to assist you with any problems that may occur with the service. Still, if this situation does happen, then it is solely up to muthoot mini smart pay to decide whether or not your complaint is valid or not.