Axis Bank Business Supreme Debit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Business Supreme Debit Card is an ultra-premium debit card designed exclusively for Current Account holders, catering to the specific requirements of business owners and entrepreneurs. It offers a suite of power-packed features including higher transaction limits, complimentary domestic airport lounge access, comprehensive fire & burglary insurance cover, complimentary INOX movie tickets, and the convenience of contactless payments.

Welcome Benefits

• Get a complimentary movie ticket (buy one get one up to ₹200) through bookings on the INOX website, INOX mobile app, and INOX theatres.
• For newly issued Debit Cards, the minimum spend criteria for complimentary airport lounge access is waived for the month of issuance as well as for the following 3 months.

Transaction Limits & Usage

• Daily ATM Cash Withdrawal Limit: ₹2 lakh.
• Daily Purchase Limit (POS/Ecom): ₹5 lakh.
• Contactless Payment Limit: Up to ₹5000.
• International Usage: The card allows transactions across the world; this service can be easily enabled through the Axis Bank mobile app or by calling customer care.
• Other Bank ATM Usage: Enjoy 5 free transactions (financial & non-financial) on other bank ATMs, subject to monthly purchase (POS/Ecom) activity on your Debit Card.

Fees and Charges

• Card Platform: Visa/Mastercard.
• Issuance Fees (Primary/Joint): ₹1000.
• Annual Fees (Primary/Joint): ₹1000.
• Card Replacement Fees: ₹500.
• Domestic ATM Cash Withdrawal Charges: ₹23 (applicable beyond the set free limit).
• Domestic ATM Non-Financial Transaction Charges: ₹10 (applicable beyond the set free limit).
• International ATM Cash Withdrawal Charges: ₹125.
• International ATM Non-Financial Transaction Charges: ₹25.
• Cross-Currency Mark-up: 3.5% will be levied in case of all international cash withdrawal and purchase transactions.
• Dynamic Currency Conversion (DCC) Markup Fee: 1% plus GST will be applicable.
• Goods and Services Tax (GST) is applicable on all the above fees.
• Annual fees will be charged to customers whose cards get closed before the end of the card year on a pro-rata basis.

Rewards & Offers

• EDGE REWARDS Program

  • Earn 1 point for every ₹200 spent domestically.
  • Earn 3 points for every ₹200 spent internationally.
  • Accumulated reward points can be spent on over 500 selected reward items.
  • Note: Effective November 1, 2017, EDGE REWARD Points are not earned on certain merchant categories including Charities, Mutual Funds, Telecom, Education, Utilities, Government/Insurance, Public Sector Life Insurance, Purchase of foreign currency, Post Office, Fuel, and Transportation.

• Airport Lounge Access

  • Complimentary access to domestic airport lounges, restricted to 2 per quarter.
  • Access is based on a minimum eligible spend of ₹5,000 in the previous 3 calendar months.
  • For newly issued Debit Cards, the minimum spend criteria is waived for the month of issuance as well as for the following 3 months.

• Insurance Coverage

  • Fire & Burglary Insurance: Cover of up to ₹20 lakh to protect your business premises from unfortunate incidences. To avail, the debit card needs to be used for purchase (POS/Ecom) 90 days prior to the date of mishap. This cover is applicable for the communication address registered with Axis Bank.
  • Personal Accident Insurance: In the event of loss of life of the cardholder due to an accident, the nominee will be entitled to a compensation of ₹10 lakh. This is a death-only cover, excluding natural deaths or deaths due to any disease.
  • Purchase Protection Cover: Loss of any consumer durable goods purchased through the Business Supreme Debit Card will be covered for 90 days from the date of purchase, against losses arising from Fire & Burglary from your residential premises, up to ₹50,000. Handheld devices are excluded from this benefit.
  • Air Accident Cover: In the event of death due to a commercial airplane crash, the nominee of the cardholder will be entitled to a compensation of ₹1 Crore.
  • Eligibility for Insurance: To be eligible for complimentary insurance cover, there should be at least one POS/Ecom transaction in the last 90 days from the date of loss.

• Dining Delights Membership

  • Get the best of dining experiences with ₹500 off via the Axis Bank Dining Delights Program with Eazy Diner (Terms & Conditions apply).

• Instant Alerts

  • The SMS alerts facility sends instant alerts each time the debit card is used to withdraw cash.
  • Receive other important information via SMS such as balance inquiry, debit or credit alerts, and transaction details.

Account & Eligibility Criteria

• Linked Account: Exclusively for Current Account holders with Axis Bank.
• Target Audience: Business owners and entrepreneurs.
• Eligibility: Business owners/entrepreneurs need to fulfill certain eligibility criteria apart from having a Current Account with Axis Bank.
• Documentation: For a full list of permissible and required documents, customers should speak to their relationship manager or visit the nearest branch.
• Minimum Spend for Lounge Access: A minimum eligible spend of ₹5,000 in the previous 3 calendar months is required for complimentary lounge access (waived for new cards for the month of issuance and the following 3 months).
• Minimum Transaction for Insurance: At least one POS/Ecom transaction in the last 90 days from the date of loss is required to be eligible for complimentary insurance cover.

Debit Card Review

• Overall Verdict: The Axis Bank Business Supreme Debit Card is a robust and feature-rich offering tailored for business owners and entrepreneurs who maintain a Current Account with Axis Bank. It provides significant value through high transaction limits, extensive insurance coverage, and lifestyle benefits.
• Who Should Apply: This card is ideal for business owners who require high daily transaction limits for their business operations, frequently travel domestically, and seek comprehensive insurance protection for their business premises and personal well-being. It offers substantial benefits for those who can meet the spend criteria to maximize its perks.
• Pros: High daily transaction limits, comprehensive insurance benefits (Fire & Burglary, Personal Accident, Air Accident, Purchase Protection), complimentary domestic airport lounge access, rewarding EDGE REWARDS program with accelerated international points, complimentary movie tickets, and dining offers.
• Cons: Applicable issuance and annual fees, specific merchant categories are excluded from earning reward points, and certain premium benefits like lounge access and insurance require prior card usage or minimum spend. International transactions incur cross-currency and Dynamic Currency Conversion (DCC) mark-up fees.

Important Product Details

• Card Type: Debit Card.
• Issuing Bank: Axis Bank.
• Card Name: Business Supreme Debit Card.
• Card Platform: Visa/Mastercard.
• Key Highlights (Positive):
  • Enhanced daily cash withdrawal limit of ₹2 lakh and purchase limit of ₹5 lakh.
  • Complimentary domestic airport lounge access (2 per quarter).
  • Extensive insurance coverage including ₹20 lakh Fire & Burglary, ₹10 lakh Personal Accident, ₹1 Crore Air Accident, and ₹50,000 Purchase Protection.
  • EDGE REWARDS Program offering 1 point per ₹200 domestically and 3 points per ₹200 internationally.
  • Complimentary movie ticket (Buy One Get One up to ₹200) at INOX.
  • Dining offers with Eazy Diner.
  • International transaction capability.
  • 5 free transactions on other bank ATMs.
• Key Highlights (Negative):
  • Issuance Fee and Annual Fee of ₹1000 each.
  • 3.5% cross-currency mark-up and 1% + GST DCC mark-up on international transactions.
  • Reward points are not earned on certain merchant categories like Fuel, Utilities, and Government transactions.
  • Lounge access and insurance benefits are conditional on meeting prior spend or usage criteria.

Other Details

• PIN Generation: Debit Card PIN can be generated anytime at the nearest Axis Bank ATM or by calling Axis Bank phone banking.
• Card Blocking: In case of loss, theft, or suspected misuse, the card can be instantly blocked by SMS ('BLOCKCARD' to 5676782 or +919717000002 for NRI), calling the Emergency Helpline (+91-22-67987700) or Customer Care (1860-419-5555/1860-500-5555), or by logging into Internet Banking.
• Terms & Conditions Update: The terms and conditions on Axis Bank Debit Cards will be updated effective May 1, 2024.
• Legal Disclaimer: Users are advised against using the Debit Card or online banking for collecting/remitting payments directly/indirectly outside India for overseas foreign exchange trading through electronic/internet trading portals, as this constitutes a contravention of the Foreign Exchange Management Act (FEMA), 1999, and related KYC/AML regulations.
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