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.
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.