What’s Holding up Your MoneyTap Application?
Topic
- Around India with MoneyTap 40
- Credit Cards 33
- Credit Score 19
- Finance 7
- General 59
- Know MoneyTap Better 38
- MoneyTap 54
- MoneyTap in Daily Life 94
- Personal Loan 83
- Shopping on EMI 6
MoneyTap brings you credit on your fingertips in the fastest and the most convenient fashion. MoneyTap also aims to be an application that gives out loans such as DMI finance loans or DMI housing loans the quickest and in a simple manner. A breezy registration on the app gives you a pre-approved credit limit. However, your application may be held up due to a number of reasons. Here’s how it goes after that and what might be plausible reasons for a delay.
- Once you upload the KYC docs, our credit management team reviews the documents for any information mismatch, wrong documents, bad quality of uploaded documents etc.
- If there are any discrepancies, you might get an email from our side to re-upload the document along with the reason for its rejection in the first place. The faster you re-upload the documents, the faster we take your application to the next step.
- Once doc-upload is done and verified, you get a quick tele-verification call from us to confirm all your details.
- Once your application is approved at our end, our banking partner sends a representative to take a physical signature on the application form. This is a mandatory step as advised by Reserve Bank of India.
- In the next few days after the verification process, as conducted by our partner bank, you get a notification of the final approval on the app and your approved amount is credited into your MoneyTap account.
- Upon final approval, we also send you a MoneyTap card that can be used like any other regular credit card. This card is dispatched at the earliest and is sent on your registered address. You should ideally get your card in less than a week after it is sent.
However, there are cases when the card is not received. If you are one of our users who haven’t received their card yet, make sure it is not due to one of the reasons given below.
- Bad documents Not Re-uploaded: Your application will not be processed further if you do not re-upload your KYC docs in the format needed.
- Tele-Verification Not Happened: Please cooperate in picking up your tele-verification call and answer a few quick questions our credit team has.
- Application Form Not Signed: It is importnat for you to take out the time to sign the physical application form. It is a madatory step without which we cannot move forward with the application.
- Incomplete Office Address: If you have given your office address in the registration, make sure it is complete. It may be difficult for the delivery person to locate you by just your office building. We will need your extension number or your department name as well apart from the office building address.
- Consignee Not Available: This is a frequent reason why cards are not delivered. Someone needs to be available to receive the card. The card will not be dropped at your door step or in your mail box without an acknowledgement.
- Old Address: If you have given your old address during registration, please update your current address in our app. We cannot deliver to addresses from where you have moved out.
- Incorrect Address: If you have waited long enough and the card has still not arrived, please re-check the address entered in our system. It is possible an incorrect door or floor number is holding up your card delivery.
Please write to us at hello@moneytap.com if the above reasons do not apply to your card. We will be happy to check the status for you.
Apr 06
Shiv Nanda is a financial analyst at MoneyTap who loves to write on various financial topics online. He also advises people on financial planning, investment choices and budgeting skills, and helps them make their financial lives better.
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Topic
- Around India with MoneyTap 40
- Credit Cards 33
- Credit Score 19
- Finance 7
- General 59
- Know MoneyTap Better 38
- MoneyTap 54
- MoneyTap in Daily Life 94
- Personal Loan 83
- Shopping on EMI 6
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Radhe says:
I Have pre-approved amount , after submitting all proofs required, it’s stuck on documents verification, it’s now 3 days but no update no mail nothing.. will you please tell how much time document verification takes. ?
MoneyTap says:
Hello Radhe,
If you still haven’t heard from us, please write to us at hello@moneytap.com providing your registration details. We will look into it ASAP.
Thank You,
MoneyTap Team
Mohsin says:
I provided every document . Still the application is rejected. Wanted to know the reason for it. Have also written to your hello@moneytap.com. please respond.
saranya says:
Hi Mohsin,
Your application is in process. We apologize for the delay caused. You will see a final response in the app soon.
Sourabh Sameer says:
I have given my application for process and it has been more then 2 weeks and still my application has not been approved, whenever I mail down to hello@moneytap.com then I get 2-3 days and after that again same mail, I am fed up of the service provided by MoneyTap, and I don’t know when my application will be approved. Once MoneyTap has taken responsibility then you should let me know why my application is stuck, or provide me with valid reason rather then 2 days email. I am highly disappointed with the services provided by you.
saranya says:
Hi Sourabh,
We apologize for the delay caused. We have asked RBL to expedite and process your application on priority.
You will see a final response in the app soon.
Thanks
Ashok says:
bro Did loan get approved or not yet? I was thinking about getting loan from this app…. I want to know whether they are doing it in time or not?
saranya says:
Hi Ashok,
The MoneyTap credit applications get processed within 2-3 working days if all the details provided by you are accurate. Currently, a person who is 23 years of age and above, who earns a minimum of Rs.20,000 per month can apply on MoneyTap. We regret to inform you that your credit application could not be approved by our banking partners right now.
Naveen Areti says:
Hai, I’ve provided every document and all the verifications were done. and its was Stucked in the final approval by DMI finance..its showing that, 68% Done since 3 days.. when it will be done and when will be the loan amount will be deposited in my account? please respond quickly! thank u
saranya says:
Hi Naveen,
We apologize for the delay caused. We have asked DMI to expedite and process your application on priority.
You will see a final response in the app soon.
Thanks
Kumar Shrimali says:
Hello sir, i am not able to schedule the agent appointment , it shows everytime error when i am making appointment in location, it says unable to fetch location, what to do now ? i have also send email to hello and support but still waiting for solution.
saranya says:
Hi, we have asked the concerned team at the bank to call you in 1 to 2 days to fix the appointment for signatures.
They will be calling on your registered number. Please do respond to their calls and move ahead with the application process.
b .prabhu says:
Hai, I’ve provided every document and all the verifications were done. and its was Stucked in the final approval by DMI finance..its showing that, 68% Done since 3 days.. when it will be done and when will be the loan amount will be deposited in my account? please respond quickly! thank u
saranya says:
Hi Prabhu,
The application is still in process and pending with DMI. We have asked the concerned team to expedite and process your application on priority.
Amount will be credited in the app. MoneyTap gives you the flexibility of selecting an EMI tenure as per your choice. Depending upon the tenure you choose, the exact interest rate will be shown to you at the time of transferring the money to your bank account.
Abhishek Bhagwat says:
I have an approved loan by the RBL bank. I haven’t received my card yet so I cannot use the money required on an urgent basis. Can you kindly update the status of the card?
saranya says:
Hi, please provide your registered details, so that we can check and get back to you.
Reecha says:
Its showing 68% done since Saturday. Can u please speed up the process and let me know when will I get final confirmation
saranya says:
Hi, please provide your registered email ID, so that we can check the status of your application and get back to you with an update.
velankannan says:
Hai, I’ve provided every document and all the verifications were done. and its was Stucked in the final approval by DMI finance..its showing that, 68% Done since 3 days.. when it will be done and when will be the loan amount will be deposited in my account? please respond quickly
saranya says:
Hi,
Congrats on getting the final credit line approval. We are glad that we could help you. We hope that you have transferred the funds successfully. Let us know in case of any queries we are happy to assist you. Thank you!
manjunatha says:
Hi 27.07.2019 your executive have appointment to collect sign documents but he not came…
saranya says:
Hi, we apologize for the delay caused. Your request has been sent to the concerned team. One of our executives will be contacting you within 24 hours for the document collection. Thank you!
Sudharsan says:
Hi, My application tracker has been stuck at Final Stage Approval by DMI finance for more than 8 days whats is going on and there is no way to contact you guys.
Unless getting Bot Generated email from your Customer Service Email.
saranya says:
Hi Sudharsan, we are sorry for the delay caused. We have sent you an email, please check and reply back to proceed further with your request.
Lavanya Nukala says:
Hi,
I have applied for a Loan and its stuck on the last step since 3 days and I am unable to go through it. I have given all the documents and still its showing an error. I wanted the money for a ,medical expense and I have mentioned this on your email as well, still I am getting ans wait for 1-2 days more.
Can some one tell me whats going on. I am highly disappointed by the service. You promise for a instant service and this is what you give. Loans are taken only when there is an emergency and this is ridiculous.
Thanks
Lavanya
saranya says:
Hi,
We apologize for the delay caused. We have asked the concerned team to expedite and process your request on priority.
Please wait for another 24 – 48 hours for an update.
Let us know in case of any queries, we are happy to assist you.
– Saranya
Isaac says:
Hi, My application tracker has been stuck at Final Stage Approval by RBL finance for more than 8 days whats is going on and there is no way to contact you.
saranya says:
Hi,
We apologize for the delay caused. Please provide your registered email ID, so that we can check the status of your application and get back to you with an update or write to us at hello@moneytap.com we are happy to assist you.
Ajay says:
i have mentioned my current address in moneytap app, but my Aadhaar card has old address. What should i do ?
saranya says:
Hi, please write to us at hello@moneytap.com, we are happy to assist you.