Any Prepaid Food Card Trick ?

[NOOBY]

As a part of Tax Benefit, some companies have started giving out Food Card to their employees (optional). The cards are supposed to be used only at selected MCC which usually are Grocery Stores (like DMart, etc) and Restaurants/Bars along with Online food deliveries (zomato, swiggy, etc)

But is there a way to get that money into our account (or cash in hand) instead of it sitting idle in the prepaid card ?

As, Credit Cards have better reward rates than prepaid cards and so, it makes no sense to pay via prepaid card when we have 2x dining benefits and other things in CC

So, is there a way to somehow get the money into our savings account (or in hand) ?

NOTE: 1 way is to befriend a hotel guy and ask him to swap my card, subtract the MDR fees and give the rest as cash/online But I don't anyone would want to do that as it will show as his actual income (while cash is black)


P.S: search option for "food card" returned nothing which is why I created new thread, if there is an older one, kindly point me out there

 

[NOOBY]

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[Patil007]

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@Wealth is my birth right!
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Not sure.

 

[Walter White]

As a part of Tax Benefit, some companies have started giving out Food Card to their employees (optional). The cards are supposed to be used only at selected MCC which usually are Grocery Stores (like DMart, etc) and Restaurants/Bars along with Online food deliveries (zomato, swiggy, etc)

But is there a way to get that money into our account (or cash in hand) instead of it sitting idle in the prepaid card ?

As, Credit Cards have better reward rates than prepaid cards and so, it makes no sense to pay via prepaid card when we have 2x dining benefits and other things in CC

So, is there a way to somehow get the money into our savings account (or in hand) ?

NOTE: 1 way is to befriend a hotel guy and ask him to swap my card, subtract the MDR fees and give the rest as cash/online But I don't anyone would want to do that as it will show as his actual income (while cash is black)


P.S: search option for "food card" returned nothing which is why I created new thread, if there is an older one, kindly point me out there

Use it for small spends where you know you won't be getting any reward points. Else, there are occasional offers on some restaurants at time. You can use it there.

 

[manikP]

If it is sodexo, you can use it in Reliance Mart to buy non food items as well.

Trick is the employee should scan a food item after ever non-food item.

One employee offered to do this himself and told me he does this for many people.

But I refused, as I'm anyways able to use my food card on groceries.

 

[sundarrajs]

Best way to use the food card
1.Food cards can be used online too like Amazon fresh, Flipkart grocery, big basket, swiggy, Zomato etc (You can use coupons if any along with it) So by default u would get 10%-30% offer as tax benefit and coupon benefit
2.If ur friend or family always use grocery shop for purchase leverage them, tell them u pay the bill and ask them to send the cash to you.

 

[NOOBY]

If you didn't take 20,000 food card, you have to pay (ex. 20% tax slab) 4,000 for tax and take remaining 16,000 as part of take home salary. So, here you already availed 20% discount which I believe no credit card provide that.

This is why even I will take that card if made available to use as the rewards are way better

But If I can somehow maximize it (by getting the prepaid amount too) then it would be bliss.

Anyway, as per your question so far didn't find any place to exchange that amount, before they usually supply paper coupons to redeem which shops take with 20% discount and provide cash (but I believe that reduces the overall return and no credit card recover that) but after these cards came everything changes, and didn't find any suitable options.

Let me know if you find anything

Exactly.... Even I will try to see and let everyone know if I get anything

If it is sodexo, you can use it in Reliance Mart to buy non food items as well.

Trick is the employee should scan a food item after ever non-food item.

One employee offered to do this himself and told me he does this for many people.

But I refused, as I'm anyways able to use my food card on groceries.

Sadly, its prepaid card I am talking about (

Best way to use the food card
1.Food cards can be used online too like Amazon fresh, Flipkart grocery, big basket, swiggy, Zomato etc (You can use coupons if any along with it) So by default u would get 10%-30% offer as tax benefit and coupon benefit
2.If ur friend or family always use grocery shop for purchase leverage them, tell them u pay the bill and ask them to send the cash to you.

I understand, this is the easiest way but its like getting the amount into savings account or in hand.
Thanks for the suggestions though, ordering for family (even cousins) would mean I am not getting that amount back (we all are quite close)

 

[bugmenot]

Using sodexo since ages, there is no way to transfer amount. You have to deal with the merchant to cash it out by giving some cut.

You can buy the product and resell it to small merchants.

It can be used on zomato/swiggy for less than ₹100 order or higher order but no meaningful discount.

 

[sumitkr85]

I load Big Basket every month using HDFC Food card. and then shop using Tata Neu App. This gives 5 % Neu coins .

 

[CVR]

best way is to load bigbasket wallet and order groceries using tata neu app for extra 5% neu coins.. or if u find bigbasket to me expensive use the food card on jiomart app.. dmart ready app doesn’t allow food card i think.. other way is to use for daily milk purchase by loading wallet of country delight, bb daily etc using the food card.. lot of time there are generic discounts (not card specific) on zomato swiggy blinkit instamart etc, pay using food card during those times..

 

[NOOBY]

I load Big Basket every month using HDFC Food card. and then shop using Tata Neu App. This gives 5 % Neu coins .

so you open bb app, load money to bb wallet and then order items via Tata Neu app (bb option) via bb wallet...

hmm, even this seems fine (as neu coins are added benefit) but no money in hand... Thanks

 

[sumitkr85]

so you open bb app, load money to bb wallet and then order items via Tata Neu app (bb option) via bb wallet...

hmm, even this seems fine (as neu coins are added benefit) but no money in hand... Thanks

Yes.. we all have to spend on groceries na.. 5% plus taxless income benefit

 

[NOOBY]

Yes.. we all have to spend on groceries na.. 5% plus taxless income benefit

Bachelors (like me) and people living in PG don't even buy that much groceries

But will keep this in mind due to added benifit

 

[sumitkr85]

Bachelors (like me) and people living in PG don't even buy that much groceries

But will keep this in mind due to added benifit

U can buy many other things apart from groceries form big basket..

 

[NOOBY]

Go to nearby super market and purchase snacks, soft drinks, in some stores cloths, household items, cleaning items, soaps, mugs, bucket etc.

You have multiple options..

yes, bro I know that... but it feels like compulsion to use that case when I can just buy Gyftr vouchers with 10x rewards via my infinia

Also, I don't think we get any kind of interest on that amount right ?

P.S: all this discussion only because my employer is *thinking* of giving those cards.. its not even final yet xD

 

[helloworld]

yes, bro I know that... but it feels like compulsion to use that case when I can just buy Gyftr vouchers with 10x rewards via my infinia

Also, I don't think we get any kind of interest on that amount right ?

P.S: all this discussion only because my employer is *thinking* of giving those cards.. its not even final yet xD

I understand your dilemma, but you have to understand some points here,

1. You already purchased those grocery & departmental store vouchers (ex. food card) at 20%-30% discount, which means you have already saved money on the purchase.
2. If you purchase new vouchers at a 10x rewards, you will still be spending more money than you would have by using the already purchased vouchers.
3. Using the existing vouchers will help you to save money and reduce your expenses, which is a wise financial decision.
4. Buying new vouchers will only result in additional expenses and in some cases it leads further expenses.

even if your employer give you 'amzn prepaid gift card', still you feel like you can buy through Gyftr with 10x rewards. It's never ending cycle.
--
What's good it serve if we do not use them. How long you keep on purchasing, at some point one must redeem (either before expiry / cancellation etc.) and enjoy the benefits it offers. So take decision based on that.

 

[NOOBY]

It will never end, and if this continuous you'll never utilize those.

The forum has corrupted me

everyone should be happy with the tax benefit percentage which no other card can give

 

[thanix]

The forum has corrupted me

everyone should be happy with the tax benefit percentage which no other card can give

I believe this will go away if you opt for new tax regime from this FY onwards.

 

[R!ppEr]

I believe this will go away if you opt for new tax regime from this FY onwards.

yeah sadly new tax regime doesnt not allow for tax rebate on sodexo or any meal cards :|

 

[Wealth is my birth right!]

As a part of Tax Benefit, some companies have started giving out Food Card to their employees (optional). The cards are supposed to be used only at selected MCC which usually are Grocery Stores (like DMart, etc) and Restaurants/Bars along with Online food deliveries (zomato, swiggy, etc)

But is there a way to get that money into our account (or cash in hand) instead of it sitting idle in the prepaid card ?

As, Credit Cards have better reward rates than prepaid cards and so, it makes no sense to pay via prepaid card when we have 2x dining benefits and other things in CC

So, is there a way to somehow get the money into our savings account (or in hand) ?

NOTE: 1 way is to befriend a hotel guy and ask him to swap my card, subtract the MDR fees and give the rest as cash/online But I don't anyone would want to do that as it will show as his actual income (while cash is black)


P.S: search option for "food card" returned nothing which is why I created new thread, if there is an older one, kindly point me out there

If u r holding some premium card with good reward rate this tax savings is not worth I mean getting swiggy voucher at good discounts as well as getting 3x or 5x reward points
Btw its default new regime now which excludes the Sodexo or food prepaid card tax exempt
Only car lease and NPS (that too the employer deducted part alone) is there