I’m recently heard about the services named Airtel Money and the Vodafone M Pesa which are offered by two different major telecom networks. I want to know is it good to save my money in those online services or I must just use my bank? What all are the advantages of using those services and is there any real benefit? How can I add money and how can I able to withdraw or pay from the Airtel Money or from the Vodafone M Pesa? Will I get interest for my money? If ‘yes’ then how much? How much will be the maximum money that I can added in to it and do I need to pay tax for this? Experts, please guide me.
In my opinion both are just waste. You can create a bank account at the banks which has the online banking facility and so you can recharge you moblie, dish, shop and pay online. So avoid these and go for net banking account.