It is very common to see session time-out message while making online train reservation through IRCTC. Sometimes even after payment got deducted from bank, you end up with a failed response from server. To minimise such failures eWallet has been brought in picture.
What is eWallet
eWallet is a recently introduced RDS scheme by IRCTC for its registered users. By using this service travellers can pay for the booking through eWallet much faster than the actual bank accounts or credit/debit cards.
How to Start?
Step 1:
Login to IRCTC.
You will be redirected to "Plan My Travel" page. On the left most side, click the "eWallet Registration" link under eWallet Section.
Step 2:
A box will appear asking your PAN and some other details. Put all the information and click on verify button. Make sure that first name entered matches with same printed on the PAN card.
Step 3:
After verification, payment for eWallet registration fee will appear. Here you need to provide a new transaction Password. This password will be required every time you make a payment for your tickets using eWallet.
Step 4:
After entering passwords, select the Bank for the payment of fee. Note that the registration fee amount of ₹ 250/- (including taxes) is non-refundable.
Upon successful payment, you will be greeted with a congratulation message and logged out. But, your account is not yet ready for use. Obviously because you have 0 balance.
How to Top up/Add Balance?
Again login and go to "Plan My Travel" page. On the left most side, click the "eWallet Deposit" link under eWallet Section.
Put the balance to be deposited. Re-enter the same. Select the payment option and hit the submit button. Proceed with your bank's interface and over. Note that you can deposit amount in multiple of ₹ 100/- only and that too should not exceed a maximum of ₹ 5,000/-
Booking eTicket Using eWallet
Proceed for booking as you do usually till payment mode selection page. There only, choose e-Wallet option. Transaction password will be required which was given at the time of registration.
Ticket will be booked if you have sufficient balance there. An additional amount of ₹ 5/- only will be collected per transaction.
Advantages
- You are saving booking time by eliminating bank's payment cycle which involves multiple redirects and waiting for OTP (One Time Password) sometime.
- Though you have to pay an extra amount of ₹ 5/- per transaction, still you are saving bank payment gateway charges which are more than ₹ 10/-.
- Usually for normal booking, cancellation amounts take 3-4 days to get refunded. Here, you will be getting it on the very next day after cancellation.
- Less exposure from online banking evertime.
- Not a joke, but you need not to ask your daddy for net banking password or debit card pin, if you are not self dependent.
Disadvantages
- The biggest one is: Booking through eWallet is not allowed from 8:00 am to 12:00 pm. This time is very critical for opening day booking and Tatkal tickets. So saving time is not significant if you are planning to book in this time window.
- At any point of time, maximum balance permitted in user's account is ₹ 5,000. So if you are planning to travel from Mumbai to Delhi in Rajdhani 1st class, it will cost you around four thousand. In such case you can't book even 2 bearth at a time using this system. I hope they will increase this soon.
- Non-refundable membership fee of ₹ 250/- seems absurd for less frequent travellers.
- Again not a joke, but you will be loosing interest amount (typically of 4% p.a.) on those if the money had been kept in saving bank account.