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

Introduction

The Business Supreme Debit Card from Axis Bank is an ultra-premium debit card designed exclusively for Current Account holders, specifically catering to business owners and entrepreneurs. It offers power-packed features including a high transaction limit, comprehensive fire & burglary insurance cover of up to ₹20 lakh, and complimentary domestic airport lounge access, making it a robust tool for business-related financial management.

Welcome Benefits

• Get a complimentary movie ticket (buy one get one up to ₹200) through bookings on INOX website, mobile app, and INOX theatres.
• Enjoy complimentary access to domestic airport lounges, restricted to 2 per quarter.

Fees

• Issuance Fees (Primary/Joint): ₹1000
• Annual Fees: ₹1000
• Card Replacement Fees: ₹500
• Domestic ATM cash withdrawal charges: ₹23 (beyond the free limit)
• Domestic ATM non-financial transaction charges: ₹10 (beyond the free limit)
• International ATM cash withdrawal charges: ₹125
• International ATM non-financial transaction charges: ₹25
• Goods and Services Tax (GST) is applicable on all the above fees.
• A cross-currency mark-up of 3.5% will be levied in case of all international cash withdrawal and purchase transactions.
• Annual fees will be charged to customers whose cards get closed before the end of the card year on a pro-rata basis.
• A Dynamic Currency Conversion (DCC) markup fee of 1% plus GST will be applicable.
• ATM usage charges for both financial & non-financial transactions are applicable beyond the set free limit.

Rewards

• Movies: Get a complimentary movie ticket (buy one get one up to ₹200) through bookings on INOX website, mobile app, and INOX theatres.
• Dining: Indulge in Axis Bank Dining Delights offering up to 20% off at partner restaurants in India.
• Travel:
  • Complimentary access to domestic airport lounges, restricted to 2 per quarter.
  • Access to complimentary domestic airport lounge will be 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:
  • Fire & Burglary insurance cover of up to ₹20 lakh to cover 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.
  • Personal Accident Insurance: In the event of loss of life of the cardholder due to an accident, the nominee will be entitled to compensation of ₹10 lakh (death only cover, natural deaths or death due to any disease are outside the purview).
  • 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 crash of a Commercial Airplane, the nominee of the cardholder will be entitled to a compensation of ₹1 Cr.
  • 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.
• EDGE REWARDS Program:
  • Earn 1 point for every ₹200 spent domestically.
  • Earn 3 points for every ₹200 spent internationally.
  • Exclusions (Effective November 1, 2017): EDGE REWARD Points will not be 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.
• Transaction Limits:
  • Enhanced daily cash withdrawal limit of ₹2 lakh.
  • Enhanced daily purchase limit of ₹5 lakh.
• ATM Usage: Enjoy 5 free transactions (financial & non-financial) on other bank ATMs per calendar month, subject to monthly purchase (POS/Ecom) activity on your Debit Card.
• Contactless Payments: Enjoy the convenience of contactless payments with an increased payment limit of up to ₹5,000.
• International Debit Card: Your card allows transactions across the world. This service can be easily enabled through the Axis Bank mobile app or by calling customer care.
• Instant Alerts: Receive instant SMS alerts each time the debit card is used to withdraw cash and for other important information.

Rewards Redemption Guide

• Your accumulated EDGE REWARD points can be spent on over 500 carefully selected reward items available in the rewards catalogue.

Card Eligibility Criteria

• Eligibility Rules:
  • Business owners / entrepreneurs.
  • Must have a Current Account with Axis Bank.
• Documents Required:
  • For a full list of permissible and required documents for the Business Supreme Debit Card, speak to your relationship manager or visit the nearest branch.

Card Review

The Axis Bank Business Supreme Debit Card is an excellent choice for business owners and entrepreneurs who maintain a Current Account with Axis Bank and require a premium debit card with high transaction limits and extensive benefits.

• Pros:
  • Very high daily cash withdrawal limit of ₹2 lakh and purchase limit of ₹5 lakh, suitable for significant business transactions.
  • Comprehensive insurance coverage including Fire & Burglary (₹20 lakh), Personal Accident (₹10 lakh), Purchase Protection (₹50,000), and Air Accident (₹1 Cr).
  • Valuable lifestyle benefits such as complimentary domestic lounge access (2 per quarter) and buy one get one free movie tickets at INOX.
  • Accelerated reward points on international spends (3 points for every ₹200).
  • Contactless payment facility and international transaction capability.
• Cons:
  • Issuance and annual fees of ₹1000 each are applicable.
  • Insurance and lounge access benefits are subject to minimum spend criteria or prior card usage.
  • Certain merchant categories (e.g., Fuel, Utilities, Insurance) are excluded from earning reward points.
  • Cross-currency mark-up of 3.5% and DCC mark-up of 1% plus GST apply for international transactions.
  • Eligibility requires an Axis Bank Current Account.

Important Product Details

• Positive Highlights:
  • Ultra-premium debit card with enhanced daily cash withdrawal limit of ₹2 lakh and purchase limit of ₹5 lakh.
  • Extensive insurance coverage including ₹20 lakh Fire & Burglary, ₹10 lakh Personal Accident, ₹50,000 Purchase Protection, and ₹1 Cr Air Accident.
  • Complimentary domestic airport lounge access (2 per quarter), with a waiver for new cards.
  • Buy one get one free movie ticket (up to ₹200) at INOX.
  • EDGE REWARDS program offering 1 point for every ₹200 domestically and 3 points for every ₹200 internationally.
  • Dining discounts up to 20% with Axis Bank Dining Delights.
  • Contactless payment facility with a limit of up to ₹5,000.
  • International transaction capability.
  • 5 free other bank ATM transactions per month, subject to purchase activity.
• Negative Highlights:
  • Issuance and annual fees of ₹1000 each.
  • Cross-currency mark-up of 3.5% and DCC mark-up of 1% plus GST on international transactions.
  • Reward points are not earned on specific merchant categories like Fuel, Utilities, and Insurance.
  • Insurance and lounge access benefits require prior card usage or minimum spend criteria.
  • ATM usage charges apply beyond the free limit.

Other Details

• Easily generate your Debit Card PIN anytime at your nearest Axis Bank ATM or by calling Axis Bank phone banking.
• In case your debit card is lost/stolen or you suspect misuse, you can immediately block your card.
• The Fire & Burglary insurance cover on the Business Supreme Debit Card will only be applicable for the communication address registered with Axis Bank. It is recommended to update the address at your nearest branch to ensure correct premises are covered.
• The terms and conditions on your Axis Bank Debit Card will be updated effective May 1, 2024.
• A disclaimer advises against using the Debit Card or online banking for collecting and effecting/remitting payments directly/indirectly outside India towards overseas foreign exchange trading through electronic/internet trading portals, as this contravenes the Foreign Exchange Management Act (FEMA), 1999 and regulations relating to Know Your Customer (KYC) norms / Anti Money Laundering (AML) standards.