To reduce demonetisation effects, MobiKwik zeroes the bank transfer fee

The demonetisation of higher Indian currency notes, is benefiting the e-cash wallets and helping people to know the value of digitisation.

MobiKwik, one of the country's largest indepenmdent digital wallet has announced that, users can transfer money indtantly to any bank account at zero percent fee.

Earlier the company used to charge 4 percent fee for a non KYC user and one percent for a KYC user, if they happen to transfer monet from a mobile wallet to the bank.

Due to demonetisation, e-cash wallet companies are coming up with innovative ideas and customer friendly facilities to encourage retailers, shopkeepers and users use e-cash wallet and face the challenge.

Bipin Preet Singh, Co-founder, MobiKwik said, "We support Indian government's bold currency reform that is a long term move to eliminate black money and corruption in India. However, masses are facing issues in procuring and transacting with cash. To help them overcome this challenge, we have announced zero percent fee on bank transfers."

The company has launched a user support number that is operational 24x7. Users can call on +919029059700 to download MobiKwik app and start sending or receiving money for free. 

The company has registered 18 times growth in transactions since the announcement of demonetization. MobiKwik payments are even easier than cash payments and users can register instantaneously using Truecaller.