Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • SBI Corporate Virtual Card

    SBI Corporate Virtual Credit Card is designed exclusively to make a single transaction at a set amount without using a physical card to complete the purchase.

    The number on the virtual card is generated randomly. Customers can set a maximum limit against the virtual number and also set the expiry date of the card. The virtual card looks exactly like a physical credit card and is accepted by vendors and merchants who have virtual card payment facilities.

    Features and Benefits of SBI Corporate Virtual Card

    Enhanced Security
    • No physical existence of the card makes it more secure
    • Card details are transferred to the supplier in an encrypted and secure manner
    • Transactions are made without exposing the customer’s primary account number and complete credit limit.
    Customised Transaction Controls
    • The customers can configure and customise controls, such as validity, merchant category, velocity check, limits, etc.
    Compliance and Security
    • The customer can easily analyse the expenses made on the SBI Corporate Virtual Credit Card and find out if the transactions made are in compliance with policies.
    • The virtual card is codified to the customer’s primary account number only for disbursement of payments and accounting purposes.
    Seamless Reconciliation
    • There are 29 custom data fields available with enhanced data to streamline reconciliation and boost information reporting of each purchase request against each transaction.
    Bottom line Savings
    • The extended due date to pay outstanding amount (Extends Days Payables Outstanding or DPO) on SBI Corporate Virtual Credit Card gives the customers the opportunity to increase savings and at the same time helps improve the Days Sales Outstanding (DSO) of suppliers.
    • The customers can generate a virtual corporate credit card very easily and even customise transactions in a number of ways using the web-based mechanism of the card.
    • Monthly e-statements for SBI Corporate Virtual Credit Card is delivered directly to the inbox of the cardholders.
    24x7 Customer Support
    • SBI Corporate Virtual Credit Card provides the customers with a dedicated help-desk team and Relationship Managers available 24x7 to assist and support cardholders in answering their queries and complaints. Virtual credit cardholders can call the SBI credit card customer care at 18601801290 or 39020202 any time for assistance.

    Fees and Charges Of SBI Corporate Virtual Card

    Type of Charge Amount
    Joining fee Nil
    Annual fee Nil
    Interest-Free Credit 20 to 50 days
    Period Finance Charges Up to 3.35% per month (40.20% p.a.) from the date of the transaction (SBI Corporate Virtual Card is a Charge card and does not offer any revolving facility)
    Total Amount Payable Total Amount Due
    Payment Dishonour Fee 2% of payment amount subject to a minimum Rs.350
    Charge slip Retrieval Rs.225 per charge slip
    Foreign Currency Transaction 3.5%
    Rewards Redemption Fee Not Applicable
    Annual Reward Fee Not Applicable
    Annual Priority Pass Fee Nil
    OTC Cash Payment Fees Rs.100 + GST
    Cheque Bounce / Invalid Cheque 2% of Cheque Amount with the minimum of Rs.350 and maximum of Rs.500

    Surcharge and Surcharge Waivers

    Railway Tickets
    • From Railway Counters: Rs.30 + 2.5% of transaction amount
    • From 1.8% of transaction amount + GST
    Petrol & all products/services
    • 1% of transaction amount
    • Platinum Cards: 1% surcharge waiver (excluding taxes and other charges) for single transaction spends between Rs.500 and Rs.4000
    Maximum surcharge waiver Rs.250 per statement cycle per credit card account
    Payment of Custom Duty 2.25% of transaction amount (subject to a minimum of Rs.75)

    Note - Taxes would be charged as and when applicable to all the aforementioned Fees, Interest & Charges.

    If the cardholders, as per SBI records on the statement date, are residents of Haryana then CGST for them is 9%, and SGST is 9%. For residents of all other states, the integrated GST is 18%.

    FAQs on SBI Corporate Virtual Credit Card

    1. What is an SBI Corporate Virtual Credit Card?

      SBI Corporate Virtual Credit Card is an online payment solution for corporate organisations without the need to furnish physical card during purchase.

    2. How safe is SBI Corporate Virtual Credit Card?

      State Bank Corporate Virtual Credit Card is absolutely safe to use because of the following safety features:

      • Customers’ details such as bank account number, mobile number, and email address are never shared with vendors.
      • The card can be used for one transaction only. Once a transaction is completed successfully, it cannot be used for any other purchase.
    3. What is the expiry date of SBI Virtual Card?

      SBI Corporate Virtual Credit Card can be used for one-time transactions. It comes with a predetermined amount, and it is valid only for a definite time. Since virtual credit card does not have any plastic copy, it can be created and used online only. There is no joining fee or annual fee for an SBI Corporate Virtual Credit Card.

    4. What are the benefits of using SBI Corporate Virtual Card during any online purchase?
      • With SBI Corporate Virtual Credit Card, customers can make a transaction online without disclosing information of their primary account. It is thus a very secure and easy way to make a transaction online. It reduces the risk of exposing entire Credit/ Debit limit/ as the Primary Card/ Account information is not communicated to the merchant.
      • The card can only be used once which effectively reduces the chance of misuse or frauds.
    5. Can I buy products on EMI scheme using an SBI Corporate Virtual Credit Card?

      No, SBI Corporate Virtual Credit Card is for one-time use only. Hence, it cannot be used to make an e-commerce purchase on EMI.

    6. What is the order of payment settlement for the corporate virtual card?

      The order of payment settlement is:

      • Total amount due
      • Fees and other charges
      • Interest charges
      • Retail outstanding
    7. How to unblock a blocked or expired SBI Corporate Virtual Credit Card?

      For security purposes, once the virtual credit card is blocked, it cannot be unblocked or re-used.

    8. How many SBI Corporate Virtual Credit Card can I create?

      Customers can create any number of virtual credit cards as long as it is in compliance with the company policy.

    9. How to reload an SBI Corporate Virtual Credit Card?

      Virtual Card is designed for one-time use only. Hence, it cannot be reloaded or topped.

    10. Can I make multiple purchases with my SBI Corporate Virtual Card before the expiry date?

      SBI Corporate Virtual Credit will be deactivated as soon as it is used to make a single purchase. Multiple purchases, therefore, is not possible with SBI Virtual Card.

    11. If the Card is used for an amount lower than the card value, what will happen to remaining value?

      The remaining amount will be automatically credited back to the primary account of the cardholder after the card is used.

    12. What is the annual fee for SBI Corporate Virtual Credit Card?

      No annual fee is charged for SBI Corporate Virtual Credit Card, and it can be availed free of cost.

    13. Will the Bank guarantee timely delivery/quality of the goods/ services if purchased through Virtual Card?

      Since delivery or quality of products is subject to merchant discretion, SBI cannot guarantee the delivery/quality of the goods purchased using SBI Corporate Virtual Credit Card.

    14. Can I withdraw Cash using my Virtual Card?

      No, the card can be used only for making online payments.

    15. How can I get a refund from the merchant site on SBI Corporate Virtual Credit Card?

      In case, an order is cancelled due to reasons like defects and other service issues, the amount used to purchase the goods will be credited to the primary account after the order cancellation is confirmed.


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