State Bank Smart Payout Card – Great Prepaid Card For making periodical payments like salary, wages, commission.
State Bank Smart Payout Card is a prepaid Card issued in Indian Rupees in association with VISA. It is an ideal product for making periodical payments like salary, wages, commission, etc and also can be issued as an add-on Card for the existing account holders. State Bank Smart Payout Card can be used for cash withdrawal at ATMs, for purchase transactions at merchant establishments and for e-Commerce transactions i.e., for online payment.
Currency of Issue | Indian Rupee only |
Validity of Card | 10 years |
Minimum amount of issue | Rs. 100/- and thereafter in multiples of Re. 1 |
Maximum amount of issue | Rs.10,000/- |
Load/Reload | Re-loadable with a load/reload limit of Rs. 10,000/- with monthly ceiling of Rs. 25,000/-. (limit of Rs. 10,000/- per transaction and Rs. 25,000/- per month) |
Daily transaction limit | No limit, Card can be used upto the balance on the Card. |
Maximum number of Cards/Account | For Individuals: Maximum 3 Cards per account for fully KYC complied account (excluding current account). For Corporates:No limit (subject to 1 Card per employee) |
Source of Load/Re-Load | For Individuals: The Cards will be loaded/ reloaded only by debit to the designated primary account maintained by the individual with the Bank For Corporates:The Cards will be loaded/ reloaded only by debit to the accounts maintained by such Corporates with the Bank. |
Availability | At all State Bank Group Branches |
Charges:
Item | Charges (in Rs.) |
Issuance/Replacement fee (per Card) | Rs.102/- |
Reload fee (per Card) | Rs. 10/- per reload Free, if reloaded through SBI Internet Banking |
Cash withdrawal/balance enquiry at State Bank Group ATMs | No charges |
Cash withdrawal/balance enquiry at other Bank ATMs | Cash withdrawal: Rs. 20/- Balance enquiry: Rs. 9/- |
Usage Case:
We will shortly provide an FAQ and use case where this State Bank Smart Payout Card Makes sense.
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