State Bank Business Debit Card - Benefits, Charges and Eligibility
State Bank Business Debit Card Overview
State Bank Business Debit Card has specially been designed keeping in mind business requirements of the Bank's Commercial Segment customers. The Card helps to track and monitor business expenses, offering customers greater control over expenses. With State Bank Business Debit Card, you can can keep track of their business expenses and at the same time enjoy the convenience of cashless shopping and earn State Bank Rewardz points on your purchases. With it, you get access to your account whenever and wherever you want. You can use it to purchase goods at merchant establishments, for making payment online and withdraw cash in India as well as across the globe.
State Bank Business Debit Card Features
- Faster day to day payments at merchant locations accepting Contactless Payments
- Shop at 10 lakh merchant outlets in India and over 30 million worldwide, accepting Card Payments
- Book movie tickets, utility bill payments, travel, other online purchases and payments over the internet
- Withdraw cash from State Bank Group ATMs or other ATMs in India and worldwide
- Safe online shopping and e-commerce transactions
State Bank Business Debit Card Eligibility
It is issued to the customers having an account with State Bank of India. Existing eligible customer may also apply for this card.State Bank Business Debit Card Fees & Charges
- Charges for issuance of Card : Free
- Second Year Onwards Annual Fee: Rs. 300/- plus applicable taxes
- Regeneration of PIN: Rs.51/- (including service tax)
- Replacement/Re-issue of Lost/Damaged Card: Rs.204/- (including service tax)
- 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
State Bank Business Debit Card Benefits
- No charges for issuance of Card
- It offers State Bank Debit Card Loyalty Program known as FreedomRewardz
- Higher cash withdrawal and purchase limits
- SMS Alert for Better Tracking: Get instant SMS alerts for all Cash withdrawal/Purchase transactions/Online transactions made on your State Bank Business Debit Card
- SBI's 24x7 helpline through Tollfree customer care
- Ideal for Business Travel: Besides booking travel tickets, this Debit Card also eliminates the need for Travellers Cheques and exchanging currency during international trips
- Increased Security: State Bank Business Debit Card is an EMV Chip-based Card that ensures highest level of security from Card frauds
- State Bank Business Debit Card comes with a wide range of discounts including travel, dining, IT peripherals and other business essentials
State Bank Business Debit Card How to Apply
- Contact your Branch.
- If you don't have saving or Current Account, first open your account.
- Get the Debit Card Application form from the Branch, fill it up and submit it to your Branch.
- You will receive your Insta Debit Card & PIN (Personal Identification Number) at the time of submission of the application form.
- In case of named Debit Card, the card will be delivered to the customer's residential address. The PIN will have to be collected from the respective Branch.
- The customer has to activate the Insta Debit card after 24 hours from the receipt of the card by withdrawing cash from Dena Bank ATM.
State Bank Business Debit Card Documents Required
- Proof of Identity : Aadhaar Card/ PAN Card/ Passport Driving License/ Voter ID Card
- Proof of Address : Aadhaar Card/ Driving License/ Ration Card/ Voter ID Card/ Passport
- Passport sized photographs
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.