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)
Revolving
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 www.irctc.co.in: 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%.

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FAQs on SBI Corporate Virtual Credit Card

• 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.

• 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:

  1. Customers' details such as bank account number, mobile number, and email address are never shared with vendors.
  2. The card can be used for one transaction only. Once a transaction is completed successfully, it cannot be used for any other purchase.
• 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.

• What are the benefits of using SBI Corporate Virtual Card during any online purchase?
  1. 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.
  2. The card can only be used once which effectively reduces the chance of misuse or frauds.
• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• Can I withdraw Cash using my Virtual Card?

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

• 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.