On the Jupiter Website, you guys written that 1% cashback upto Rs.1000 will be given per month. But After opening the account, I can see on the app that 1% cashback upto Rs.500 will be given per month. Why is the difference??
It’s 10% upto 500 for now. 10% upto 1000 from next month after completing video KYC which will be enabled this month.
Hey Tejeswar, @souravdas808 is right.
The cashback upto a limit of 1k should be there as soon as you become a verified user - we are working towards making that available at the earliest.
Thanks for the reply.
I have an another query.
Does the cashback on international transaction comes under this Cashback limit of Rs.1000?? Or Cashback limit on international transactions is different??
it’s over and above this cap of INR 1000 but only on debit card spends for international txns
Until Jupiter is not enabling Cashback for UPI Transactions and Full KYC Process via Video KYC or through any other options, Capping ₹500 on Domestic Debit Card Transaction should be increased to regular capping of ₹1000. Because this delay in Full KYC is caused from Jupiter’s side and not from Customer’s end. Otherwise Customers are very much eager to change their current status from Basic User to Verified User, as early as possible. So they should not be penalised due to delays from your end. This will definitely going to create a negative impact on their mindsets.
I have done a Domestic Transaction of ₹5000 via Debit Card and it was eligible for Credit of 500 Jewels but it was denied from Jupiter’s end by giving the same reason of Maximum Capping on Cashback in a Month. I was highly disappointed with this response as Jupiter has initially announced 10% Cashback up to Maximum of ₹1000 in a Month, at the time of joining Waitlist and we being an early adopters of your Savings Account Product put utmost Trust in Jupiter & its S/A, hence its obviously a bad feeling with this kind of move where we are not at any fault. If Jupiter has launched process for becoming Verified User for its existing Customers and if any delay is there in completing Full KYC from our end then this move has been completely justified. But sadly that’s not the case.
This is just an humble suggestion from my end to Team Jupiter that you should re-think about your current Cashback Policy and its prevailing T&Cs.
Kindly, refer below mentioned conversation with Customer Support via Chat from Jupiter App’s Help Section.
As you might be able to see your activated offer would end in October, giving you three months of promised cashback + the 500 that you are eligible for this month (July).
As Video KYC would be available sooner this month, if not later.
Your cashback earnings would exceed what was already promised. (500 on DC + 500 on UPI/ month)
Hope this helps!
Thanks Sneh for your prompt response & yes, your reply is quite helpful in understanding the Cashback Process. But I have just one more query regarding UPI Offer.
Cashback of ₹500 on UPI/ Month, that you have mentioned, is for eCommerce / Online Merchant Payment Transactions via UPI Payment Mode only or also eligible for P2P Transactions i.e. UPI Fund Transfer to 3rd Parties.
Just one more suggestion regarding, Full KYC Process, if possible then do try to implement method of Aadhaar XML File Upload for this purpose. As it doesn’t require any physical contact for Biometric Verification.
As I have faced an error during Video KYC with IndusInd Bank, where Front Camera of my Mobile Handset was working fine but then there was no option to Switch it to Back Camera within their Webpage. VKYC Officer has reconnected twice or thrice but same issue remained. Then he said that you need to visit your nearest Branch with Physical KYC Documents and Self-Attested Photocopies.
They do have Video Branch App for Customer Support and when I have connected to One of their Video Banking Officer then I could able to switch both Cameras of my Handset, from Front to Back and vice versa. As there is one button for Switching Camera in the App which was not present in their VKYC Webpage. So when I have requested her to reinitiate VKYC via same App then she refused by saying that Video Banking Officers are not Authorized to perform VKYC.
Actually I haven’t received any Link via SMS for VKYC initially, so I have requested her to resend the same. So she refused for that too and informed that I have to compulsory visit their Branch only. Then I had to visit my Home Branch in the middle of the Peak of 2nd Wave of COVID-19 Pandemic. Actually VKYC was innovated just for the safeguard of Customers and Bank Staff only, but such buggy and faulty systems even worsen the situation. Moreover they didn’t have any backup plans to cope up with potential issues with VKYC or they might not have done a dry run or beta testing of their service, before launching it into public domain.
So by sharing my personal experiences, I just want to inform that Aadhaar XML Upload is a proven method for Full KYC and I personally rate that higher than even VKYC. I have already performed Full KYC for my NSDL Payments Bank Savings Account, IRCTC iMudra Wallet Account in the past and just yesterday only I have done it for One Card Lite Credit Card Application. Entire process took just less that 30 seconds.
Kindly, just think about the alternatives of VKYC, in case if any such issue arises during that time.