Gift Card  

 

 

 

Presenting Gifts to your loved ones is an integral and unique culture in India. Traditionally, gifts have been given in the form of cash or kind. With the advancement of Banking, Gift Cheques were introduced, allowing the beneficiaries to use the money according to their wishes. These cheques, however, are accepted at the issuing bank branches only. The SBI Gift Card , issued in association with VISA International, is one product which gives the comfort of convenience and wide acceptability.

SBI Gift Card is a Pre-paid Plastic Card supported by Magnetic-strip based technology. It is usable at all VISA enabled Merchant Establishments and POS by signature/ PIN. It is a perfect substitute for Gift Vouchers sold by many retail houses as its use is not restricted to any particular Merchant Establishment/ Point of Sale.

Product Features

•  Available at all Branches

•  Issued for a minimum of Rs.500/- and thereafter in multiples of Rs.100 subject to the following ceilings and KYC compliance

  1. For Individuals: a maximum of Rs 20000/-- KYC to be done by the Bank
  2. For Corporates: a maximum of Rs 5000/- for distribution to their employees/beneficiaries. Corporate should maintain full details of employees/beneficiaries.
  3. For Corporates: above Rs 5000/- and up to Rs 20,000/- KYC to be done by Bank

•  Issued in Rupees and is acceptable at all VISA merchant establishments in India, Nepal and Bhutan

Documentation

•  For Individuals: Basic KYC norms will be completed

•  Issue of cards subject to the following ceilings and KYC compliance

  1. For Individuals: a maximum of Rs 20000/-- KYC to be done by the Bank.
  2. For Corporates: a maximum of Rs 5000/- for distribution to their employees/beneficiaries. Corporate will maintain full details of employees/beneficiaries.
  3. For Corporates: above Rs 5000/- and up to Rs 20,000/- KYC to be done by Bank.

Personalised Cards

The card can also be personalized, upon request by the Corporates for Bulk Issue

Daily Transaction Limit

•  Point of Sales Transactions – Upto the Balance in the Card

•  Balance enquiry can be done through SBI ATMs/ through Internet free of cost

•  Account Statement can be viewed/ printed through Internet free of cost

Card Validity

The expiry date is pre-printed on the cards

 

 
 
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