About Indian Bank Debit Cards
Indian Bank was established in the year 1907 during the Swadeshi movement. One of the largest public sector banks in India, Indian bank has a vast footprint with over 2400 branches in India. With branches on Jaffna, Colombo and Singapore, Indian Bank has a strong presence in over 69 countries with 213 correspondent banks. A forerunner in specialized banking services, Indian Bank has exclusive branches for dealing with foreign transactions and SME operations. The bank offers an array of financial and banking services including loans, deposits and accounts and debit cards.
Indian Bank debit cards are carefully designed to offer the maximum benefits and convenience for the customers. Debit Cards offered by Indian Bank can be used for ATM withdrawal, online shopping and utility bill payments.
Features and Benefits of Indian Bank Debit Cards
The following advantages offered by Indian Bank debit cards makes it very popular choice amongst the customers.
- Indian Bank debit card can be used in more than 30,000 ATMs.
- Customers gain flexibility to make cash withdrawals 24/7 and also to make cheque deposits easily.
- Through ATM, customers can request for a cheque book using the card.
- The Maestro debit cards offered by Indian Bank can be used in over 1 million ATMs globally and 23 million Point of Sale (PoS) terminals worldwide.
- In India, the card can be used at over 15,000 ATMs and more than 1,50,000 merchant terminals.
- The debit card is issued at no extra cost and can be used at all ATMs of other major banks.
Indian Bank ATM card
Established in the year 1907, Indian Bank till date is one of the largest public sector banks in the country. Not just in India, Indian Bank has its presence in over 69 countries, with 2,600 branches. With regard to ATM cards, all the ATM cards issued by Indian Bank are tied up with MasterCard and Rupay card.
Features of Indian Bank ATM card
- All Indian Bank ATM Mastercards can be used not only in India, but globally. Indian customers travelling abroad can withdraw money in the local currency.
- For the first year of holding the Indian Bank ATM card, there is no annual maintenance charge. From the second year onwards, Rs.50 is charged as annual maintenance which is automatically debited from the customer’s bank account.
- The first three withdrawals from other banks in urban areas is completely free, post three withdrawals, a transaction fee of Rs.20 is charged. For people making withdrawals from non-metros, the first five transactions from other bank ATMs are completely free, followed by a transaction fee of Rs.20.
- For customers who have lost or their card has been stolen, they need to contact the numbers 044-25251185, 044-25260335 or the national toll-free number 1800 425 00 000 to block their card immediately.
Indian Bank Rupay Card
Along with the Maestro and Mastercard debit cards issued by Indian Bank, they also issue Rupay debit cards. For Indians only, Rupay debit cards have a number of benefits as these debit cards are customized to suit Indians, especially from the weaker sections of society.
Benefits of Indian Bank Rupay card
- Since this debit card caters to Indians residing in the country, transaction information is not passed overseas.
- Rupay debit cards have been designed by keeping the service requirements of Indians in mind.
- Lower transaction cost as it appeals to even the weaker sections of society. That in mind, it has a far better reach in India than its competitors.
Features of Indian Bank Rupay Card
- For the first year of the Rupay card being issued, there is no annual maintenance charge. From the second year onwards, Rs.115 inclusive of tax is charged as annual maintenance.
- The service charge to issue a duplicate PIN is Rs.25, while unblocking a lost or stolen card is Rs.50.
- If a customer wants a new Rupay ATM card, a service fee of Rs.152 is charged.
Indian Bank Rupay PMJDY Card
The Pradhan Mantri Jan-Dhan Yojana was launched on August 15, 2014, in a bid to include even those from the backward classes in the country in the financial system. The government launched the Jan Dhan zero-balance savings accounts and granted all that joined the scheme Rupay PMJDY debit cards - to facilitate cashless transactions.
Features of the Indian Bank Rupay PMJDY Card:
- The Rupay PMJDY debit card was given to all who opened Jan dhan accounts under the Pradhan Mantri Jan-Dhan Yojana Scheme.
- The cash withdrawal limit is set at Rs.25,000 per day.
- Cash transactions at POS (Point of Sale) is also limited to Rs.25,000 a day.
- Since this debit card was launched primarily for those from the weaker sections of the population, one can make withdrawals and transactions at merchant establishments but cannot make transactions online.
- For Indian Bank Rupay PMJDY card holders, they are granted a Personal Accident coverage of Rs.1 lakh annually and Rs.30,000 Life Insurance coverage.
Indian Bank Senior Citizen Card
Making sure that they cater to all sections of society, the Indian Bank rolled out the Senior Citizen card. The senior citizen card comes with the photograph of the individual as well as the blood group - in case of an emergency, amongst the other benefits that this debit card has for senior citizens.
Benefits of the Indian Bank Senior Citizen Card
- As already mentioned, the Indian Bank Senior Citizen Card has the photo of the senior citizen, his/her’s blood group, name and date of birth on display, in case of an emergency and for security.
- Keeping an emergency in mind, the withdrawal limit and the POS transaction limit for these debit cards are relatively higher.
- There are no AMC charges for withdrawals and POS transactions.
- The withdrawal limit for the day is Rs.25,000 and for POS transactions is Rs.25,000 as well.
Indian Bank EMV World Mastercard
Moving forward with technology, Indian Bank too has rolled out the EMV World Mastercard to enhance the security of their customers. EMV debit and credit cards come with a chip embedded in it, thereby protecting the encoded data of the card, unlike the magnetic strip in most cards. By doing so, it has made counterfeiting cards almost impossible.
Features and benefits of the Indian Bank EMV World Mastercard:
- The biggest bonus, apart from security, is that the Indian Bank EMV World Mastercard is accepted worldwide, in over 200 countries, spanning across 32 million merchant establishments.
- The daily cash withdrawal limit is higher as well, at Rs.50,000 per day.
- The POS transaction or online transaction limit is Rs.1 lakh per day.
- The EMV World Mastercard is secure and will protect you against fraudsters that counterfeit debit and credit cards.
- EMV World Mastercard holder have privileged banking facilities.
- Luring discounts for travel, fine dining, shopping, at airport lounges, etc., for EMV World Mastercard holders.
Eligibility for Indian Bank Debit Cards
To avail an Indian Bank debit card, you must hold a savings or current account with Indian Bank. For the eligibility criteria for savings and current accounts offered by Indian bank, do enquire with the nearest branch.
Documentation for Indian Bank Debit Cards
A customer might be asked to submit the following documents for Indian bank debit card.
- Identity proof – Passport, Voter ID etc.
- Address proof – Electricity Bill, Passport etc.
- Duly filled and signed application form
- Salaried applicants will be asked to submit proof of employment and salary slips.
Indian Bank Debit Cards FAQs
1. Do banks levy any service charge for use of other bank ATMs?
Since the Reserve Bank of India launched the “Free ATM access policy” in April of 2009, no service charge is levied on transactions made from other banks. That said, banks have limited the number of free transactions a month to 5 free transactions a month from other bank ATMs. After you are done with 5 free transactions from other bank ATMs, Rs.20 will be charged as a transaction charge for every transaction from another bank ATM.
2. What should be done in case during the cash withdrawal process, cash is not disbursed by the account gets debited for the amount?
If you do not receive the money of the withdrawal, yet the money is debited from your account, you have to immediately raise a complaint with your bank. Following the investigation, the money will be credited to your account. The same procedure has to be followed if this happens at other bank ATMs.
3. How many days maximum would the bank require to re-credit the account for such wrong debits?
If you have not received the withdrawal money yet the money has been debited from your account, once you raise a complaint of the same, as per the instructions of the RBI the money should be credited within 12 to 14 working days.
4. Are the customers eligible for compensation for delays beyond 12 working days?
Yes, instructed by the Reserve Bank of India, as of June 2012, banks have to pay compensation if there is a delay in crediting the due amount. If you have not received the withdrawal money from the ATM yet the money has been credited from your account, as per instructions from the RBI, the bank has to credit the amount within 12 working days from the day of the complaint or pay a compensation of Rs.100 for each day of delaying crediting the money. Note that the bank has to credit the amount even without you having to raise a claim.
5. In case the compensation is not credited as mandated, what recourse does the customer have?
If the bank does not respond in the stipulated time, you can file a complaint with the local Banking Ombudsman of the Reserve Bank of India. The complaint can be made online as well, to save you the inconvenience of visiting the local Banking Ombudsman. Once the complaint is made, you can be sure that strict action will be taken against the bank.
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