Payroll Card  

Payment of salaries to employees who will be required to work at different locations is generally a difficult proposition for Employers as a single Banking arrangement can not be made for all employees. The SBI Payroll card , a prepaid plastic card issued in Indian Rupees in association with VISA international, is the right solution in such cases. Periodical payments like salary, payment of TA/ Medical/ incentives etc. can be loaded on to the card from a single point and the funds are available to the employees immediately.

The SBI Payroll Card is a Pre-paid ATM-cum-Debit card usable at all VISA-enabled ATMs through PIN and at Merchant establishments/ Point of Sale through PIN/ Signature, in India, Nepal & Bhutan. The cardholder need not visit any Branch to withdraw his money. Balance enquiry can be made either through ATM or through Internet free of charge.

Currency of Issue

Indian Rupees

Documentation

All the Payroll Cards can be issued centrally with minimum documentation to fulfill the KYC guidelines. The Employer only needs to certify as to the bonafides/ identity/ proof of residence and submit a copy of the photo identity card alongwith other required information.

Personalised Cards

The cards are issued as personalized cards only.

Reload

•  The Payroll Card is a re-loadable card and may be re-loaded any number of times. Periodical allowances like TA, Conveyance, Bonus and reimbursement of miscellaneous expenses which are regular in nature, can also be paid into these cards

•  Maximum amount of reload Rs.10,000.00 per month per employee

•  Minimum reload Rs.100 per reload

Daily Transaction Limits

•  Unlimited number of withdrawals from any State Bank Group ATM

•  Minimum Cash Withdrawal: Rs.100 per transaction

•  Maximum Cash Withdrawal: Rs.15000 per day

•  Merchant/ Point of Sale Transactions – Upto a maximum of Rs.25000/- per day. This limit is in addition to Cash    Withdrawal limit of Rs.15000/- per day

•  Balance enquiry at SBI ATMs free of cost and at a nominal cost at other VISA enabled ATMs

•  Free online access to statement of account through Internet

Card Validity