Cub Rupay Pmjdy Debit Card - Benefits, Charges and Eligibility
Cub Rupay Pmjdy Debit Card Overview
City Union Bank Rupay PMJDY Card has been specially designed to suit the needs of economically weaker segment of Indian citizens under the RuPay platform & Pradhan Mantri Jan Dhan Yojana (PMJDY). It has lower transaction costs as compared to other debit cards.
Cub Rupay Pmjdy Debit Card Features
- Cashless Shopping
- Can be used at 30000 + ATMs of various banks
- City Union Bank Rupay PMJDY Card is issued on Rupay Platform
- City Union Bank Rupay PMJDY Card is valid only on India
- City Union Bank Rupay PMJDY Card is issued to all who opened Jan dhan accounts under the Pradhan Mantri Jan-Dhan Yojana Scheme
- It has lower transaction costs
- High Transaction Limits: Rs. 50,000 - daily withdrawal limit & Rs. 50,000 - daily purchase limit
- It is very similar to international cards such as Visa/Master
- PIN & Signature based authentication at PoS outlets
- Card holder cannot make online transactions
Cub Rupay Pmjdy Debit Card Eligibility
All Savings account holders under Pradhan Mantri Jan Dhan Yojana (PMJDY) are eligible. Existing eligible customers can also upgrade the accounts to apply for this card.Cub Rupay Pmjdy Debit Card Fees & Charges
- The Card will be issued free of cost to primary and joint holders free of cost for the first year
- Second Year Onwards Annual Fee: Nil
- 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 Rupay Pmjdy Debit Card Benefits
- It is issued against a zero balance savings account to facilitate cashless transactions
- It has its own payment gateway hence is faster to process
- It has lower transaction costs
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.