Pleasant & traumatic experiences with Ola money


Given the precarious cash position, I added money to my Ola wallet prior to my travel to Delhi

  1. My trip to the central station from home was very smooth.  Neither the driver nor I had to fish out the change in a busy intersection.
  2. Likewise my trips in Delhi using the Ola wallet were very seamless

But I also had a share of painful experiences.

  1. This morning, I had taken an auto and because it was a short distance i was more than willing to pay by cash for the auto driver but the moment the trip was closed, the payment was made from my ola wallet.  The driver was visibly upset because it will be many days before he gets the money, if at all, for this trip.  I felt sorry for the driver. (Is there a way to pay in cash for a trip when there is sufficient balance in the ola wallet?  I have asked this question to Ola customer support as well)
  2. For my return , I had booked another auto and when I got into it, I told him about the ola money and he asked my mother & myself to  alight because he wants cash.  I could understand his predicament and so I booked a cab.  While we were travelling by the cab, I got a sms from Ola that an amount of Rs.174 has been debited from my Ola wallet for the above auto ride that I did not take.  Clearly, the auto driver had done some mischief.  At this moment, I have written to Ola reporting the issue and hopefully it will get resolved and the erroneous debit will be reversed.

So its been a mixed bag.  I have written this blog highlighting both sides of the coin.

So, if  you are planning to load your Ola wallet (I’m not sure how it works with Uber), please watch the debits carefully and report any abuses to the customer care immediately.

Caveat emptor – Buyer beware



How to exchange your 500 & 1000 notes

By this time, all of us are aware of the blitzkrieg move of the Modi Sarkar to demonetise the 500 & 1000 rupee notes and so I am not going to elaborate on that.  Enough has been said and written.  So let’s get down to business

I will share a step-by step process to get your 500 & 1000 notes exchanged in a bank. Currently, you can get upto Rs4000 exchanged in a day by this process.

  1. Please carry the original and photocopy of your id proof.  the accepted proof are Aadhar, Driving license, Voter ID, Passport, NREGA card, PAN Card or any identity card issued by govt dept psu to its staff.  (I am not sure if ration card is an accepted proof because it is not mentioned)
  2. At the bank, you will be given a form like this 5001000form
  3. Fill up this form in full. Collect this form at the entrance.  This is only for exchange and not for deposit.
  4. Also add the serial numbers of the notes you are surrendering in the form.
  5. Give this form with the photocopy of the id proof & show the original id to the staff.  On  the photocopy also write the amount, the purpose and sign before giving id card xerox to banks. This way you can avoid unscrupulous managers/staff using your id for someone else’s exchange. (updated)
  6. If you have an account in that branch/bank, write down the account number and also your mobile number in this form. (At the ICICI Bank branch where I got my money exchanged, there was a separate counter for account holders and non-account holders. the process however is the same)
  7. Once the staff has authenticated the form, the proof and the numbers of the notes, the form is stamped and signed and then given back to you
  8. You can then take the form and the notes to the teller counter where they will give you the amount in 100’s or 50’s depending upon their stock.  This particular branch had only 50’s and so I got a fistful of 50 rupee notes when i came out.  My wallet was so fat and I felt so happy

Overall, the process was smooth and I got my money in about 10 minutes.

Some disclaimers:

a. I am not sure if the same process is applicable in a post office, though

b.  I’m not sure if the tenderer has to come in person or if they will accept it from someone else.



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