Tamilnad Mercantile Bank Master Titanium Contactless Debit Card - Benefits, Charges and Eligibility

Tamilnad Mercantile Bank Master Titanium Contactless Debit Card Overview

Tamilnad Mercantile Bank Master Titanium Contact-less Debit Card is a multi-purpose Debit Card which comes with contactless technology. This means that wherever a Customer sees the contactless symbol at any merchant location, he/she can pay for items through Contactless debit Card.A customer can make electronic payments by just waving the contactless card near the PoS terminal without any need for dipping or swiping the Card on PoS, thereby the Debit card will always be in the customer's custody.

Tamilnad Mercantile Bank Master Titanium Contactless Debit Card Features

  • Available on MasterCard platform
  • Faster day to day payments at merchant locations accepting Contactless Payments
  • Book movie tickets, utility bill payments, travel, other online purchases and payments over the internet
  • Safe online shopping and e-commerce transactions
  • Daily cash withdrawal limit: Rs. 50,000 & Daily purchase limit: Rs. 75,000

Tamilnad Mercantile Bank Master Titanium Contactless Debit Card Eligibility

Individual aged more than 16 years, SB Dynamic Youth account holders aged more than 17 years, Karta of HUF account or Proprietor Customers holding Savings Bank Accounts (Except No frill accounts, TMB Simple Savings Bank Accounts & Jan Dhan Yojana Account), Current Accounts & Overdraft Accounts with Tamilnad Mercantile Bank are eligible to apply for ths card. Existing eligible customers can also upgrade the accounts to apply for this card.

Tamilnad Mercantile Bank Master Titanium Contactless Debit Card Fees & Charges

  • Issuance Fee: Rs 150 plus applicable taxes
  • Annual Fee (from 2nd year onwards): Rs 100 plus applicable taxes
  • Replacement Charges (at customer request for all prepaid & debit cards): Rs 150 plus applicable taxes
  • Re-Issue of PIN: Rs 50 plus applicable taxes
  • For usage at IRCTC and other selective e-Commerce sites: Applicable surcharge plus service Tax
  • Transactions at petrol pumps: Surcharge of 2.50% of transaction amount or Rs. 10, whichever is higher plus applicable taxes

Tamilnad Mercantile Bank Master Titanium Contactless Debit Card Benefits

  • Cashless shopping MasterCard Debit Card
  • Get an SMS and Email alert on your registered mobile phone and Email ID for every transaction done using your Debit Card
  • Higher cash withdrawal and purchase limits
  • SMS Alert for Better Tracking
  • 24x7 helpline through customer care service
  • Highly safe and secure transactions

Tamilnad Mercantile Bank Master Titanium Contactless 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.

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.