SBI’s virtual card facility is a very useful thing. This facility of SBI can be availed through internet banking.
State Bank of India (SBI) provides its customers with a virtual card facility, which is a limit debit card. This facility can be availed through online banking of SBI for online shopping. This card can be purchased on any e-commerce website that accepts Master / Visa card. According to the SBI website, there is no difference between the regular plastic card and it. Come, know the merits of this card.
No fear of fraud
In SBI Virtual Card, the merchant does not see the card’s primary and account details, due to which there is no possibility of any kind of fraud.
Valid for 48 hours
SBI is valid for up to 48 hours after the virtual card is created or until the transaction is completed.
Card is made through OTP
The SBI virtual card is created on the basis of one time password (OTP) that arrives at the customer’s registered mobile number. Not only this, the transaction also happens after the OTP is inserted.
You can pay with NetBanking
SBI customers can make payments through their NetBanking.
Transactions up to Rs 100-50,000
The minimum transaction value for making an SBI virtual card is Rs 100 and a maximum of Rs 50,000.
No fee
There is no extra charge from customers for this.
Master / Visa card holder valid on all websites
SBI Virtual Card can be used on all websites that accept payment with Master / Visa card.
Single use card
SBI Virtual Card is a single use card and once used successfully it becomes useless.
The amount will be deducted on successful purchase
The amount is deducted from the virtual card only when the purchase is completed successfully.
Card number limit
A customer can make any number of virtual cards daily. There is no limit to the maximum number.
Business ET: Read these popular news too
- Credit card users will also get the benefit of Moratorium, …
- Another booster of RBI, reduced repo rate to 4%, to pay EMI…
- Air travel starts from May 25, now know how much it can be…
- Choosing six months moratorium on EMI will benefit or cut …
- Job lost in Coronation? Do you understand your gratuity …
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
