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| 04 August 2007 | Mumbai | | | State Bank of India Launches the SBI Gold International Debit Card in Association with Visa International | | | Enhanced cardholder experience with Visa Money Transfer, Visa Bill Pay and Verified by Visa | |
State Bank of India today launched the SBI Gold International Debit Card in partnership with Visa International. This product provides State Bank of India cardholders with unmatched benefits and privileges including access to Visa’s unique suite of services in India including Visa Money Transfer, Visa Bill Pay and Verified by Visa.
SBI Gold International Debit Cardholders can also avail of exclusive benefits like loyalty points, enhanced limits on overseas transactions and domestic transactions, purchase protection insurance and personal accident protection besides discounts at select merchant establishments. Other attractive features of the card are a permanent cash back facility and cash withdrawal without any service charges at ATMs of banks with whom SBI has bilateral arrangements. SBI has bilateral arrangements with 13 banks. The card also offers daily cash withdrawal of Rs 50,000 from ATMs and daily transaction limit of Rs 200,000 at Point of sales (POS).
Speaking at the launch, Shri. O. P. Bhatt, Chairman of State Bank of India, said, “Visa SBI Gold International Debit Card has been introduced by the bank in order to accord a special status to its existing valued constituents in the country. SBI is the largest issuer of debit cards in Asia Pacific region with a population of 27 million actively used debit cards which is growing at the rate of 6 lakh cards per month. SBI has plans to increase its ATMs from existing 7200 to 25,000 within three years and card issuance to 1 million per month. SBI is issuing Visa Debit cards for the first time and shall be shortly introducing Visa normal debit card in other variants viz, Yuva, Platinum and Shopping card etc. The Gold card will offer a bouquet of value added benefits to the cardholders.”
James Murray, Executive Vice President, South and South East Asia, Visa International Asia Pacific said, “The SBI Gold International Debit Card makes purchases at merchant outlets as easy as ‘Shop, Swipe, Sign’ – as the Visa Debit product is signature based. Besides it enables cardholders to transfer money, shop online and pay their bills with an added level of convenience and security. This is another milestone in our relationship with State Bank of India and we are delighted to offer SBI customers this winning combination of services on the SBI Gold International Debit Card.”
The SBI Gold International Debit Card enhances customer experience as the card can be used at merchant locations, ATMs and even on the Internet to pay utility bills like telephone, electricity, mobile etc through the www.visabillpay.in site. Visa Money Transfer will also enable cardholders to transfer money easily and efficiently from the SBI Gold International Debit Card using any SBI ATM to any other Visa Debit card or Visa credit cardholder in the country. Cardholders can also get an added level of security through Verified by Visa that provides an additional layer of security for purchases on the Internet.
The State Bank of India Gold International Debit Card is available to all savings account holders of the bank with an average quarterly balance of Rs. 50,000 free of cost and without any annual fee.
Some of the value-added benefits that cardholders can enjoy by enrolling for this product include:
Access to the Visa Money Transfer service that allows the cardholder to use any SBI ATM or their online SBI account to send money to any Visa cardholder anywhere within India using the Visa system. All that the sender needs to know is the destination card number. The per transaction limit is allowed at Rs. 50,000 without any service charges.
Access to Verified by Visa which provides added security to cardholders when they make purchases online. Cardholders can use the Verified by Visa password they have created themselves to purchase goods and services through a secure transaction.
Access to Visa Bill Pay which is a service that enables cardholders to make payments to more than 80 utility providers on the Visa Bill Pay site (www.visabillpay.in) – whether it is paying their telephone bills, electricity bills among others. All customers need to do is choose their biller and then authorize payment from their SBI Visa Gold International Debit Card.
Loyalty points every time cardholders swipe their card, discounts on purchases from select merchants etc.
ATM cash withdrawal limits of US$ 1,000 for international transactions and Rs 50,000 for domestic transactions.
POS transaction limits of US$ 4,000 for international transactions and Rs 200,000 for domestic transactions.
Free of cost accidental death insurance of Rs 2 lakhs and complimentary purchase protection insurance for Rs 5000.
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About SBI
State Bank of India is the largest commercial bank in India in terms of assets, deposits, profits, branches and employees. The bank had total assets of Rs. 566, 565 crores, total deposits of Rs. 435, 521 crores and recorded a profit of Rs. 4,521 crores as on March 31, 2007. The Bank has a vast network of 9,517 branches and staff strength of nearly 2 lakhs. The State Bank of India has the highest ranking among Indian Banks and is one of the top 100 banks in the world. It is also ranked among the top 20 banks in Asia as per the Annual Survey conducted by The Banker (UK).
State Bank of India has been created by an Act of Parliament and has completed 200 years of its existence. The Bank is committed to the best practices in the area of corporate governance. The Bank maintains a high level of business ethics and is committed to optimise value for all its stakeholders.
| | About Visa
Visa connects cardholders, merchants and financial institutions through the world's largest electronic payments network. Visa products allow buyers and sellers to conduct commerce with ease and confidence in both the physical and virtual worlds. Visa is committed to the sustained growth of electronic payment systems to support the needs of all stakeholders and to drive economic growth. Visa products currently generate more than $4.8 trillion in sales volume worldwide. Visa enjoys unsurpassed acceptance around the world. In addition, Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in over 170 countries. For more information, visit www.corporate.visa.com | |
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