Federal Bank Mastercard Classic Debit Card - Benefits, Charges and Eligibility

Federal Bank Mastercard Classic Debit Card Overview

Federal Bank offers you internationally accepted Federal Bank MasterCard Classic Debit Card in association with MasterCard. MasterCard Classic Debit Card is the popular debit card with which you can enjoy the freedom and convenience of one card for Shopping and ATMs. You can use this card in millions of POS terminals all over the world for shopping and withdrawal of cash from your account through any ATM in any country, accepting MasterCard. Federal Bank, your perfect banking partner has exclusively designed our MasterCard Classic Debit Card to cater all your Shopping needs.Discover what are the features offered by MasterCard Classic Debit Card.

Federal Bank Mastercard Classic Debit Card Features

  • Daily Shopping Limit of Rs 50,000/-
  • Daily Cash Withdrawal Limit of Rs 50,000/-
  • Total Limit of Rs 1,00,000/-
  • PIN & Signature based authentication at PoS outlets
  • Globally Accepted Card
  • 24 x 7 Global Customer Assistance Service

Federal Bank Mastercard Classic Debit Card Eligibility

All segments of customers except No-frill a/c holders can apply for Federal Bank MasterCard Classic Debit Card. Existing eligible customers can also upgrade the accounts to apply for this card.

Federal Bank Mastercard Classic Debit Card Fees & Charges

  • Charges for issuance of Card : Nil
  • Second Year Onwards Annual Fee: Rs 150 plus GST, Annual Fee is exempted if the annual spend is above Rs.50,000 through ECOM/POS
  • Add-on card Issuance Charges: Rs 200 plus GST
  • PoS/Ecom Transactions: Nil
  • Card replacement charges (at customer request): Rs 200 plus GST
  • Renewal (on expiry of card) Free ATM/Debit Cards - Nil
  • Duplicate PIN: Rs 50 plus GST
  • 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

Federal Bank Mastercard Classic Debit Card Benefits

  • Highly secure and convenient access to your savings and current accounts in over 210 countries across the world
  • Safe ATM usage (both Federal bank's and other banks)
  • Enjoy all offers & discounts offered by MasterCard
  • 24x7 customer support is always available
  • Convenient payment for shopping, bill payments, dining, etc (both offline and online)
  • Free SMS alerts for all transactions on your card
  • Experience the convenience of MasterCard ATMs, cashless shopping and exciting benefits

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.