India Post Payments Bank digital debit card holders will now have to pay 2 fees. Under this, they will have to pay a fee of Rs 50 to the bank. However, premium account holders will be exempted from this.
New Delhi. If your account is in India Post Payments Bank (IPPB) and you have a virtual debit card of the bank, then there is going to be an extra burden on your pocket. Actually, IPPB virtual debit card holders will now have to pay annual maintenance and reissue charges.
For this, consumers will have to pay Rs.25-25. This fee will be applicable from 15 July 2022. Please note that premium accounts (SBPRMs) will be exempted from these charges. It is worth noting that IPPB had launched Virtual Debit Card to drive customers towards the digital payment ecosystem. Digital payments are also getting a boost from the Centre.
What is Digital Debit Card
It is a digital card that can be used for online transactions. The card can be used for online purchases at any merchant website/online portal in India just like a physical card. Provided that RuPay card is accepted there. Indian Post Payment Bank customers can generate it on their mobile banking app.
New service idea
The central government is considering a partnership between India Post Payments Bank and leading messaging platform WhatsApp to host banking and financial services. The aim of the government is to connect more and more people with digital services and for this it can consider further partnership between WhatsApp and India Post Payment Bank. This will help in providing better facilities to the customers of the bank and they will not need to go to the bank for basic work.
Indian Post Payment Bank
It is a public limited company where the central government has a 100% stake. It has been set up as a payment bank under the Department of Posts. The bank is going to run a pilot project for the next 60 days for balance enquiry, application for new account and other banking operations.
How to Generate Virtual Card
To download Virtual Debit Card, first download IPPB App. After that click on Rupay Card then select Virtual Debit Card. On the new page click on Request Virtual Debit Card. Then accept the terms and conditions and press the Proceed button. Enter the OTP received on your registered mobile number and your digital debit card will be generated.
