Steps to pay by credit card by Gimbooks Pay App
- To start transferring money from your credit card, download the Gimbooks Pay application.
- For Android users, you can find it on Google Play, while iOS users can locate it on the App Store.
- After downloading, install it on your device to proceed.
- The next step involves registering your account.
- Open the app and sign up using your mobile number.
- You’ll need to complete a Know Your Customer (KYC) process, which requires Aadhaar and PAN verification.
- A selfie may be requested for additional security to ensure safe transactions.
- Once your account is set up, add a beneficiary by entering their bank account details, including the account number and IFSC code.
- To initiate a transfer, input the amount you wish to send and select a payment category like ‘tax’ or ‘vendor.’
- Choose your credit card as the payment method, confirm all details, and proceed with the payment.
Important Considerations
- After you’ve initiated the transfer, be aware of the service charges: approximately 1.83% for standard transfers and around 2.01% for instant transfers.
- Additionally, if you’re GST-registered, your transfers will be typically instant; however, non-GST users may experience slight delays.
Managing Your Credit Card Transfers
- Keep in mind that transferring money from your credit card can result in interest charges from the transaction date.
- Frequent or large transfers can impact your credit utilization ratio, potentially affecting your credit score.
- Always ensure timely repayment of your credit card dues to maintain a healthy financial standing.
