Overview of Federal Bank MasterCard Classic Debit Card
Headquartered in Kochi, Kerala, Federal Bank is a private sector bank with 1251 branches across the country. The bank’s revenue is over ₹69.4 billion. The bank has also won the prestigious IDRBT Banking Technology Excellence award in the year 2013-14 among many other awards.
One of the many financial products that Federal Bank offers its customers is debit cards and MasterCard Classic Debit Card is one of its most popular choices. All your shopping needs can be met with this one card which comes loaded with benefits.
Features and Benefits of for MasterCard Classic Debit Card
- The ideal card for shopaholics, Federal Bank Debit Card has a high Daily Shopping Limit of Rs 30,000/-
- The card can be used at ATMs around the world. The Daily Cash Withdrawal Limit is Rs 30,000/- for this card.
- Thus, the Total Limit for the MasterCard Classic Debit Card is Rs 60,000/-
- Safety and convenience are the main priorities for Federal Bank. This card is armoured with the best in technology so that your funds are safe and you have convenient access to your current accounts and savings no matter where you go. The card can be used in over 210 countries.
- For added security, the card is protected with Signature and PIN based authentication at POS.
Eligibility Criteria for Federal MasterCard Classic Debit Card
To apply for the MasterCard Classic Debit Card all customers of Federal Bank are eligible. The only exception are No-frill a/c holders.
Applying for MasterCard Classic Debit Card
Visit the official website of Federal Bank and scroll down to find the Forms & Stationery page tab. When you click on it you will be able to download the application for debit cards. The application must be filled up with the required information and submitted at a Federal Bank branch. Once processed, you will receive the PIN number and debit card.
MasterCard Classic Debit Card FAQ
- Is there any annual charge on this card?
Yes, you will be charged Rs.100 as annual charge for this card.
- Is there any way that I can avoid paying the annual fee?
You can get the annual fee reimbursed if the total value of E-commerce transaction/s or POS on the card is more than Rs 10,000. This is only valid if the value comes up to the mentioned amount within 6 months from the date of card activation.
- I already have a VISA Gold card. Is it possible for me to get the MasterCard instead?
As long as you are otherwise eligible, you can simply contact the branch and request for a MasterCard. You must surrender your current card to get it replaced. You must also pay the annual fee applicable for MasterCard.
- Is it possible for me to retain my existing card?
Yes, it is possible to retain your existing card. You just have to contact a branch of Federal Bank to get the process started. You must pay the annual fees of Rs 250 to do so.
- Will ATMs of Federal Bank accept any MasterCard?
Yes, the ATMs will accept all the MasterCard variants including MasterCard, Cirrus and Maestro.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.