To provide banking solutions to teenagers and young adults as well as also helping them become money-savvy at an early age, Fintech Company Walrus announced the launch of the Signature Prepaid Debit Card for teenagers. This unique card permits the consumers to personalize or customize their signature which later gets engraved or printed on the debit card. Walrus has become the first Neobank in India to launch this type of exclusive feature on debit cards. It was designed to provide banking facilities to young teenagers and make them financially stable.
In today’s post, we would be taking a look at the Walrus Card and its features, and talk about how you can apply for the card. Here’s an overview.
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Features of Walrus Prepaid Card
Issued by RBI Bank, this card is a Prepaid Card which is powered by Mastercard and can be utilized at any departmental or retail store in their neighborhood and for making online transactions at various online e-commerce sites like Amazon, Flipkart, etc. The Signature Debit Card is enabled with specifications like Swipe-to-Pay to assure quick and secure transactions. The Debit Card has no hidden charges and no annual maintenance fee and you can enjoy the services of this Debit Card. Also, in the Walrus app, there is no minimum balance limit in the Walrus Wallet so you can add any amount in the Walrus Wallet easily.
With the help of the Walrus app, you can also transfer money to your friends with the help of UPI. When you create an account through the Walrus app, you can also perform various UPI Transactions within the app. You can send or transfer money to your family members, relatives, or friends easily with this app without any additional charges. Users can transfer their funds to the new Walrus account with the help of net banking, debit card, or UPI. You can also use the Scan and Pay feature through UPI ID in the Walrus app.
How to create your account in the Walrus app?
- First of all Download the Walrus app from the below link.
- When you click on this link, it will redirect you to the main website of Walrus where you can download the app from the Google Play Store.
- After downloading Walrus install and open the app.
- Now, the main interface of the Walrus app will open. Simply click on the Skip button.
- Now, enter your Mobile Number and click on the Get OTP option. A 6-digit OTP (One-Time Password) will be sent to the registered mobile number. Now, enter the OTP on the Verify OTP section and click on the Submit button.
- Now, you’ve to enter few basic details about yourself like Your Name, E-mail Address, Date of Birth, and Gender, and click on the Sign-Up button.
- In the referral code section must enter 7PW2P extra Walrus coins signup bonus.
- When you complete your registration process in the app, the app will ask you to complete your KYC Verification. Click on the Complete KYC option or you can do this process after some time.
Now, your virtual Mastercard Debit Card will display on the main dashboard of the Walrus app. Along with this, you can also check your account balance and your transactions history in the View Transactions section.
Note – When you open this app first time, your account balance will be zero. You’ve to add some balance in the app through different payment methods like Net Banking, Debit Card, Credit Card, etc.
How to use Walrus Debit Card/ Walrus Signature Prepaid Debit Card?
You can’t avail the benefits of the Walrus Debit Card unless your account is verified through KYC Verification Process. Hence, it is compulsory to verify your account through KYC. The KYC Process in this app is very easy –
- Firstly, click on the Complete KYC option on the main dashboard of the Walrus app.
- Now, click on Proceed option. Now, in the Guardian Details section, you’ve to enter the basic details of your father or mother (like Name, Date of Birth, E-mail Address, etc.) and click on Proceed option.
- Now, you’ve to enter your Address Details like Your Complete Residence Address, Area Pincode, State and City, and again, click on Proceed option.
- Now, for the KYC Verification, you’ve to choose the document type like PAN Card, Passport, or Driving License and enter the document number like PAN Card Number. Now, you’ve to upload the image of your document and again click on Proceed option.
- Now, you’ve to upload a photo of your Guardian (Father or Mother) with the document (like PAN Card). They will also provide a sample format that how you’ve to upload your guardian’s photo with the document. After uploading this image, again click on Proceed option.
Now, after few hours, your KYC Process will be completed. And now, you’re ready to use the Walrus Debit Card and the Walrus Signature Prepaid Card. There is a feature where you can order your Walrus Debit Card in physical form by paying Rs. 350. After your successful payment, your card will be delivered to your residence address in the span of 2 to 3 weeks. In the Walrus Signature Card, you can also customize your signature in Walrus Card through Walrus App.
That’s all about Walrus Signature Prepaid Card. It is a lifetime free card that you can apply for any time. If you have further queries you may comment below. I will be happy to help out.
If you love Fintech apps and want to stay updated about it, don’t forget to join our FinTalks group on Facebook. Thank you for reading. I will be back soon with another interesting update. Keep visiting HiTricks.