Fampay Referral Code

Click To Copy Fampay Referral Code

Click To Copy Fampay Referral Code

Fampay Refer And Earn Video Tutorial

(GUNA5FWTK) Fampay Referral Code

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Account opening process

There are a few steps that need to be followed to open an account on Fampay. Here are the steps:

1. You will need to login into the Fampay app on your phone
   
   
2. You can create a zero-balance account. In such an account you can store only Rs. 10000.
   
   
3. Once you turn 18 years of age, you can store Rs. 100000.

There are mainly 2 types of accounts you can create on Fampay:

• Minimum KYC: If you are a minor, then creating a minimum KYC account is best as it requires your adhaar card linking and your mobile phone.
  
  In such an account, the account can store a maximum of Rs. 10000 and the transaction limit is Rs. 1000.
  
  
• Full KYC Account: If you are above the age of 18, you can open this type of account. Here, the account can store a maximum of Rs. 100000 and there is no transaction limit in this type of an account.

If you wish to order the FamCard, here is how you go about it:

• Go to the Fampay website and navigate to the right corner of the website and click on the Get your own FamCard or Gift a FamCard.

• Select the type of card (FamCard or FamCard Me) you would like to purchase and click on the Select button and click on the Proceed with FamCard.

• Design your card as per your liking according to the options the website provides.

• Fill the required details and click on Continue on the next screen and follow the on-screen instructions.

How to download the app?

The Fampay app is available on both Android and IOS platforms. You can install the app from the Play Store.

Here’s a detailed video explaining how you can create an account on Fampay. The simple steps that need to be followed are:

• Take your android or IOS device
  
  
• Go to the Play Store or the App Store
  
  
• Search for Fampay
  
  
• Click on the Install button

What is refer and earn?

A lot of companies have a referral program. This program is designed in a way that the person who refers and the person who signs up using the referral link or code provided to them earn some rewards.

This is usually a cash reward or a sign-up bonus of some sort.

Fampay refer and earn process

The Fampay referral program works as follows:

• Each user who creates an account on Fampay with correct information earn a scratch card.
  
  
• During the signup if you use a referral code and make any transaction, the referrer will earn a scratch card award.
  
  
• If the amount in the wallet reaches Rs. 11, then it can be withdrawn into their bank accounts.
  
  
• If the referrer already has a bank account, they can instantly withdraw the rewards.

Current offers

Fampay is now selling 2 variety of cards:

• FamCard
  
  
• FamCard Me

The FamCard card which was previously priced at Rs. 298.99 is now being sold at Rs. 99 and the FamCard Me card which was previously priced at Rs. 598.99 is being sold at Rs. 299.

What benefits does the referred person get?

As previously mentioned, if a person refers someone to sign up on to the platform, they can avail of a scratch card.

If the amount reaches a certain amount like Rs. 11, they can withdraw the amount earned in rewards into their bank accounts.

This is possible only if they have accounts linked to the app.

Referral amount withdrawal process

After providing all the required details upon sign up onto the platform, you need to enter your name and Adhaar card details. An Adhaar card is essential for the identity verification process.

You can now set up your UPI IDs to be able to withdraw the cash rewards. The credits earned upon signup are in the wallet.

You can make use of digital payment interfaces to withdraw the cash rewards into your bank accounts.

Advantages and Disadvantages of Fampay App

Here are the advantages :

• To be able to use UPI, you need to be at least 18 years of age. Fampay enables teens to have access to digital payments.
  
  
• You can use the app at all times and do not need cash to be able to make payments at shops.
  
  
• You can earn a lot of rewards while spending money through the app. There are a lot of reward schemes available in the form of FamCoins.
  
  
• The app is 100% secure. The cards are numberless and there are complex security systems in place for verification of KYC and device locking mechanisms to ensure the security of the person making use of the card and the app.

Here are the disadvantages:

• Providing financial independence to teens comes with a certain amount of risk.
  
  
• The phone can be lost and a third-party person may be able to make changes that cannot be reverted on the Fampay app.
  
  
• While helping teens get exposed to the concept of financial independence is important, there is a good chance that they might misplace the card.

Fampay terms and conditions

Here are the terms and conditions set by Fampay that every user must adhere to.

• You are required to be a citizen of India by all means.
  
  
• If you are a minor below the age of 18, you can only open or create a Minimum KYC Account.
  
  
• If you are a minor, the maximum transaction amount is limited to Rs. 10000.
  
  
• If you are an adult who is 18 years of age or more, you are eligible to open a Full KYC Account. The maximum amount you can store is Rs. 100000 and there is no limit on the amount you can withdraw.
  
  
• Minors are to use the platform under the supervision of Parents or Guardians or any elderly figure.

Conclusion

Fampay is a great company with a great vision. If you are a parent who would like to teach your kids about the importance of handling personal finances, this would be a great way to go about doing so. 
I hope you liked our article on fampay referral code, if you have any comments or suggestions do share them in the comments below.

Frequently asked Questions (FAQ)

Q1. How can I get a free Fampay card?

There is no way you can get a free Fampay card. However, with the current offer, you can purchase a FamCard at a low cost of Rs. 99. You can check the prices and buy the FamCard from the Fampay website.

Q2. Is Fampay RBI certified?

Yes, Fampay is Reserve Bank of India certified. They have all the licenses required to operate the business. They have also partnered with IDFC First bank, while also ensuring a seamless KYC verification process on the app itself.

Q3. How do I use my Fampay card?

You can flash the PIN generated for each transaction made and show it to the cashier for offline payments. While making online payments, you just have to copy the code from the app and paste the code to pay for your purchases.

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