Cub Master Classic Debit Card - Benefits, Charges and Eligibility

Cub Master Classic Debit Card Overview

CUB Master Classic Debit Card has been designed for all SB accounts, CD/CC account holders which are in the name of individuals or Proprietary concerns. It has a Rupay platform which has comparatively less transaction cost. It is faster in processing.

Cub Master Classic Debit Card Features

• Issued on Mastercard platform
• Cashless Shopping
• Can be used at 30000 + ATMs of various banks
• Daily cash withdrawal limit: Rs.50,000
• Daily shopping/online transaction limit: Rs. 50,000

Cub Master Classic Debit Card Eligibility

All SB accounts, CD/CC accounts in the name of individuals or Proprietary concerns. Existing eligible customers can also upgrade the accounts to apply for this card.

Cub Master Classic Debit Card Fees & Charges

• Charges for issuance of Card : Nil
• Second Year Onwards Annual Fee: Please contact your bank branch
• Card replacement charges (at customer request): Rs 250 plus GST
• PoS/Ecom Transactions: Nil
• Mark Up Charges for each POSP transaction at Petrol Pumps: 2.5% + GST
• Mark Up Charges for each POSP transaction at Railway Bookings: 2.5% + GST

Cub Master Classic Debit Card Benefits

• No issuance charges
• Higher withdrawal and transaction limit
• Priority customer service available 24 hrs for all the 7 days of a week
• Quick and secure access for funds

What is EMV-Chip Based Debit Card?

EMV stands for Europay MasterCard and Visa, who developed this technology. EMV-chip based debit cards are the debit cards which have embedded microprocessor chip that stores and protects cardholders' information/ data. It uses enhanced security features to protect the important date of the card holders and discourages card's unauthorized usage.

EMV-chip based debit card generates fresh user data every time the user transacts. Therefore, it is impossible for hackers/ fraudsters to steal the information or copy the original data from any card. Further, EMV technology uses your debit card as well as PIN to complete any transaction.

What is a Contactless Debit Card?

Contactless debit card is a sensor embedded new age debit card that works on Near Field Communication (NFC) Technology using Radio Transmission to ascertain contact when the card is brought near a terminal. This enables the customers to make payments up to Rs.5,000 without swiping their cards & entering a PIN.

Benefits of a Contactless Card

• Fast & Convenient
• Safe & Secure
• No chance of losing or misplacing it

The Reserve Bank of India (RBI) has asked all banks in the country to replace magnetic-strip debit/ credit cards with EMV-chip based cards by 31 December 2018 as magnetic cards are quite vulnerable to skimming. Banks have already replaced the existing magnetic strip debit/ credit cards with latest EMV chip cards. Banks will provide it free of cost.