Advantages and Disadvantages of eWallet Scheme of IRCTC
IRCTC has started eWallet scheme recently for its users to make payment to book tickets without using any other payment gateway. User can deposit money in the eWallet using the net banking account. The minimum deposit is INR 100 and in the multiple of INR 100 and the user can maintains the balance up to 5000. (Max. limit). To avail the eWallet service user must have a PAN number for registration of eWallet.
Advantages of eWallet
1. User...
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can book the ticket easily using the eWallet account, some time the other payment gateway does not work on the time of booking and the eWallet is fast and secure mode for online booking.
2. If user cancels the eTicket, the refund goes to directly to the particular user’s eWallet without any delay.
3. User can saves money in eWallet (up to INR 5000) for future travel.
Disadvantage of eWallet
1. First, the user needs to pay INR 250/- registration fee (non-refundable) to avail the eWallet service.
2. While the depositing the money into eWallet, the bankers take the nominal charges with service tax as applicable at the time of booking using net banking payment gateway of any banker.
3. Beside above charges, IRCTC also levies INR 5 per transaction while booking through eWallet service.
4. The main disadvantage for the eWallet service, if an user book 1st AC ticket of Mumbai Rajdhani Express from New Delhi (NDLS) – Mumbai Central (BCT) the approximate fare is INR 4135, and the user deposits INR 4200 in eWallet to book the ticket. After some time, the user cancels the trip (eTicket) for any reason. The entire refund amount goes to the eWallet after deductions (if any). The user cannot take money back to the banker’s account for other use. The entire money will be kept in eWallet for future bookings.
5. As the entire money deposited is non-refundable and can only be used by booking of tickets only (according to the current terms and conditions of IRCTC, subject to be amended by IRCTC in future), If the user leave the country, or dies or not in condition to use Indian Railway in future then the entire eWallet money will not be refunded by IRCTC .
Conclusion
The only benefit of eWallet is refunded amount return in the eWallet without any delay as compared to other payment gateways. If the user books the eTicket using IRCTC website directly using payment gateway as through banker’s net banking or Internet banking account then it can be cheaper than eWallet service and user can use the refunded money for any other purpose.
By Dinesh Sood