Jupiter Debit Card Charges

Feedback & Ideas
110

Hi everyone,

My name is Tanvi Agrawal and I’m part of the Debit Card team at Jupiter. I wanted to answer some of the queries and shed some light on this move:

  1. Eligible merchant spends: Almost all non-ATM spends (online and offline) are included in the 25K waiver. The only exception are financial payments (like credit card or loan repayments), wallet recharges etc. The full list is part of the Terms & Conditions and I’ve also pasted it at the end of the post for easier access for you.

  2. I can see that there is some discomfort around charges for virtual card. While we understand the perception, I’ll try to explain the logic: from the bank’s perspective, cost of providing and maintaining services for a debit card remain the same, irrespective of whether it’s physical or virtual. Whether the card is in plastic form or not has nothing to do with the maintenance cost. If you use your virtual debit card and spend around 2K per month, there won’t be any charges. We believe that this is a fair ask for a business-user relationship.

  3. Regarding the lack of communication, the intention was never to do it slyly. Email communications have been ready for more than a week but we were waiting for our Customer Support team to get trained to handle the queries properly.

The emails have started going out from yesterday in batches and will be sent to 100% of the base within the next 7 days. We wanted to update the website and app FAQs before sending out the email so that users do not find any discrepancy between the email and ‘fees and charges’ on the website. But we did not anticipate that users would discover the charges on the website on their own without any communication!! :slight_smile:

Most importantly, there is no charge for the next 12 months! And you can always avoid paying the fee by spending INR 2000 every month :slightly_smiling_face:

Note:

“Qualified Merchant Spends”, refers to all the Non-ATM spends done through your Jupiter Debit Card are qualified as Qualified Merchant Spends except the list mentioned below:

** Credit card, loan, or buy now pay later repayments*
** Online gaming, betting, or lottery transaction*
** Money transferred to financial or political institutions*
** Payments made at courts or for legal matters*
** Money transferred to digital wallets, and*
** Transactions made at restricted merchants (which don’t strictly qualify as “purchases of genuine goods and services”)*

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