Canara Bank offers a better way to gift cash to individuals with a number of additional benefits. Gift cards are more sophisticated and gives the holder the option to transact at merchant stores or online. The Canara Bank gift card is a prepaid card that needs to be loaded with the desired amount. The cardholder can then spend that amount on anything they like.
Benefits of Canara Gift Cards
Alternative to Cash
This debit card is a great option to give individuals an easy alternative to cash to carry out day-to-day transactions.
These prepaid gift cards can be gifted to anyone for their birthday, wedding, anniversary and any other special occasion.
Cardholders can easily track and control their expenditure. The gift card can work as a budget tool and expenditure monitor especially for dependants and minors.
Works as a great alternative to gift vouchers for employees giving them a wider range of redemption options It can also be used to reimburse expenses.
Features of Canara Gift Cards
Card Initial Load Amount
The card can be purchased for a minimum of Rs.500. The maximum limit the card can be loaded is Rs.10,000. Load amounts can be made for any amount within this range in multiples of Re.1. The card can be loaded only once and cannot be reloaded once it is used up.
The gift card is secure and safe. ATM and POS transactions are based on PIN authentication. Online transactions are safe and secure as it needs to be verified with an OTP authentication.
The gift card can be used at POS terminals to make purchases at merchant outlets. The gift card cannot be used to make cash withdrawals at ATMs. Card to Card fund transfers are also not available with this card.
You can opt to receive SMS alerts on all transactions made with the card.
If you lose your gift card, you can hotlist it so that no one else uses it. The card will be blocked and you will be issued a duplicate one.
Canara Bank Gift Card Usage
- The gift card is valid for use only within India.
- The card can be used at any Merchant Establishment, Utility Service and Ecommerce site that accepts VISA, MasterCard and RuPay.
- The card cannot be used to withdraw cash at ATMs.
Who can buy this card?
You can purchase this card if you fulfill the following eligibility criteria:
- You should be an account holder of Canara Bank - savings, current or overdraft.
- Account holders must have fulfilled the KYC requirements.
- Any individual can apply for this card. The card is also available to Corporates, Institutions, Government Departments, Other Organisations to purchase for their employees
- The purchaser must furnish details of their mobile number.
- The details of the beneficiary must also be made available including the mobile number.
How to apply for the Canara Bank Gift Card?
- If you wish to purchase a Canara Bank Gift Card, you can follow the process given below:
- Visit the Canara Bank branch at which you hold your bank account.
- Submit a written request for purchase of Gift Card in the prescribed form.
- You need to provide the beneficiary’s details such as name, contact number and address.
- You then need to give the bank authorisation to transfer amount from your SB/CA/OD account to load the card.
- If your card is non-personalised, it will be issued immediately at the branch itself.
- If you require a personalised card, it will be sent to the bank branch and you can collect it when it is ready.
Fees and Charges
The fees and charges associated with the Canara Bank Gift Card are listed below:
|Issuance Fee||Rs.50 plus GST|
|Load Fee||Rs.20 plus GST|
|Reload Fee||Not Applicable|
|Cancellation Charges||Rs.50 plus GST|
|Hotlisting||Rs.50 plus GST|
|Cash withdrawal||Not Applicable|
Dos and Don'ts
Canara Bank advises you to keep your card safe and follow the list below to ensure your card works properly.
- As soon as you receive the card, sign on the signature panel on the back of the card.
- Change your PIN regularly and keep it secret.
- Do not write your PIN on the card.
- Keep your card in a safe place so that you will be aware if it's missing.
- Do not keep your card near a TV.
- Do not scratch the magnetic strip present at the back of the card.
- Do not place two cards with the magnetic strips together.
- Keep your card away from direct sunlight.
- Do not bend the card.
- The bank never calls for details such as the card number, PIN, CVV and OTP. Never disclose this information to anyone.
- Avoid taking help from strangers for carrying out transactions on your card.
Canara Gift Cards FAQs
Can I earn interest on the amount credited to the gift card?
No, you cannot earn interest on the money credited to the gift card.
Can I reload the Canara Bank Gift Card?
No, the gift card cannot be reloaded. However, Canara Bank offers two other prepaid cards that can be reloaded: Canara Prepaid Classic and Canara Prepaid Plus.
Can I apply for this card if I am not a Canara Bank customer?
No, this card is available only to Canara Bank customers who hold a savings account, overdraft account or current account.
Can I cancel the request made to issue a gift card?
Yes, you can cancel your request for a gift card by submitting a written request in the prescribed form. If the payment has already been made, you will be eligible for a refund. You will be charges Rs.50 plus any GST for cancellation.
Can I use the card to withdraw cash at ATMs or POS outlets?
No, there is no cash withdrawal facility available on this card. You can use it to make purchases online, at retail stores and POS outlets.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.