Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
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.
| Enhanced Security |
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| Customised Transaction Controls |
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| Compliance and Security |
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| Seamless Reconciliation |
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| Bottom line Savings |
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| Convenience |
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| E-statement |
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| 24x7 Customer Support |
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| 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 |
| Railway Tickets |
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| Petrol & all products/services |
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| 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%.
SBI Corporate Virtual Credit Card is an online payment solution for corporate organisations without the need to furnish physical card during purchase.
State Bank Corporate Virtual Credit Card is absolutely safe to use because of the following safety features:
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.
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.
The order of payment settlement is:
For security purposes, once the virtual credit card is blocked, it cannot be unblocked or re-used.
Customers can create any number of virtual credit cards as long as it is in compliance with the company policy.
Virtual Card is designed for one-time use only. Hence, it cannot be reloaded or topped.
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.
The remaining amount will be automatically credited back to the primary account of the cardholder after the card is used.
No annual fee is charged for SBI Corporate Virtual Credit Card, and it can be availed free of cost.
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.
No, the card can be used only for making online payments.
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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