Axis Bank Rewards+ Debit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Rewards+ Debit Card, issued by Axis Bank, is designed for Savings and Salary Account holders (excluding Priority Account Holders) seeking comprehensive returns on their purchases globally. This card offers a blend of benefits including a high daily ATM transaction limit, a 5% discount on movie tickets, complimentary airport lounge access, and substantial personal accident insurance cover. It provides convenience for both domestic and international transactions, along with a robust rewards program. Please note that new issuance of this card has been discontinued. For existing cardholders, a new card variant will be issued upon expiry.

Welcome Benefits

• Avail 500+ rewards and offers through the eDGE Loyalty Rewards Catalogue.
• To enroll for the eDGE loyalty rewards on your debit card, activate your card by performing any purchase transaction within 30 days of its issuance.

Transaction Limits & Usage

• Daily Cash Withdrawal Limit: ₹50,000.
  • For minor accounts, the daily cash withdrawal limit is ₹5,000.
• Daily Purchase Limit (POS/Online): ₹4,00,000.
  • W.e.f. 7th November 2019, all new cards issued have an enhanced domestic purchase limit of ₹5,00,000.
  • For minor accounts, the daily purchase limit is ₹10,000.
• Contactless Payment Limit: Enjoy increased payment convenience with a limit of up to ₹5,000 per transaction.
• International Usage: The Rewards+ Debit Card allows transactions across the world. This service can be easily enabled through a Branch, Axis Bank Mobile App, or Internet Banking. International transactions are not allowed for NRO customers.

Fees and Charges

• Debit Card Variant: Reward Plus Debit Card
• Network: VISA
• Joining/Issuance Fees: ₹300 + GST. This fee is Nil for Salary Customers. Fresh issuance of this card has been discontinued.
• Joint Holder Joining/Issuance Fees: ₹300 + GST. Fresh issuance of this card has been discontinued.
• Annual Fees: ₹300 + GST. This fee is Nil for Salary Customers.
• Joint Holder Annual Fees: ₹300 + GST.
• Replacement Fees: ₹200 + GST.
• Virtual Debit Card: Not available.
• Domestic ATM Cash Withdrawal Charges: ₹23 per transaction.
• Domestic ATM Non-Financial Transaction Charges: ₹10 per transaction.
• International ATM Cash Withdrawal Charges: ₹125 per transaction.
• International ATM Non-Financial Transaction Charges: ₹25 per transaction.
• Foreign Currency Markup: A cross currency mark-up of 3.5% will be levied on all international cash withdrawal and purchase transactions.
• Dynamic Currency Conversion (DCC) Markup Fee: A fee of 1% plus GST will be applicable.

Rewards & Offers

• EDGE REWARDS Points

  • Earn 1 point for every ₹200 spent on the card at merchant outlets.
  • Earn 3 points for every ₹200 spent on Dining (applicable on transactions of ₹500 or more only, starting 10th October 2018).
  • Earn 3 points for every ₹200 spent on shopping at apparel stores (applicable on transactions of ₹500 or more only, starting 10th October 2018).
  • Points are not earned on certain merchant categories effective November 1, 2017, including Charities, Mutual Funds, Telecom, Education, Utilities, Government/Insurance, Public Sector Life Insurance, Purchase of foreign currency, Post Office, Fuel, and Transportation.
  • Redeem points from a catalogue of 500+ rewards and offers.
  • To enroll for the eDGE loyalty rewards, activate your card by performing any purchase transaction within 30 days of issuance.

• Movie Ticket Discount

  • Get a 5% discount on movie ticket bookings on BookMyShow with your Rewards+ Debit Card.
  • Save up to ₹2400 annually on your movie spends.

• Airport Lounge Access

  • Enjoy complimentary domestic airport lounge access 1 time 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.

• Dining Delights

  • Avail ₹500 off and more via the Axis Bank Dining Delights Program with EazyDiner.

• Insurance Covers

  • Personal accident insurance cover up to ₹5 lakh.
  • Air accident insurance cover up to ₹1 crore.
  • Price protection up to ₹50,000.
  • Purchase protection up to ₹50,000.
  • Insurance on baggage loss/checked-in baggage and baggage delay up to 500 USD.

Account & Eligibility Criteria

• Eligibility: The Rewards+ Debit Card is issued to Savings and Salary Account holders (except Priority Account Holders).
• Age Requirement: Individuals who are Axis Bank account holders above the age of 18 are eligible for the Rewards+ Debit Card.
• Activation: To activate your Rewards+ Debit Card, simply carry out any purchase transaction within 30 days of its issuance.
• Documentation: Proof of residence and identity must be submitted at the time of account opening. For minor accounts, the parent/guardian is required to present accurate documentation with respect to proof of age, proof of residence, etc. Proof of employment on employer’s letterhead may also be required.

Debit Card Review

• Overall Verdict: The Axis Bank Rewards+ Debit Card offers a robust suite of benefits, including high transaction limits, comprehensive insurance coverage, movie discounts, and airport lounge access, making it a valuable card for existing Axis Bank customers. However, it is crucial to note that new issuance of this card has been discontinued. Existing cardholders will receive a new card variant upon expiry, so new customers cannot apply for this specific card.
• Pros:
  • High daily cash withdrawal and purchase limits.
  • Extensive insurance benefits including personal accident, air accident, price, and purchase protection.
  • Complimentary domestic airport lounge access.
  • Attractive rewards program with accelerated points on dining and apparel spends.
  • Discount on movie tickets.
  • International transaction capability.
• Cons:
  • No new issuance available, making it inaccessible to new customers.
  • Reward points are not earned on several common merchant categories like fuel, utilities, and telecom.
  • Minimum spend criteria for lounge access (though waived for new cards for an initial period).
  • Fees apply for domestic and international ATM transactions.
  • Cross currency and Dynamic Currency Conversion (DCC) mark-up fees on international transactions.

Important Product Details

• Card Name: Axis Bank Rewards+ Debit Card
• Issuing Bank: Axis Bank
• Card Network: VISA
• Key Highlights:
  • Enhanced daily cash withdrawal limit of ₹50,000.
  • High daily purchase limit of ₹4,00,000 (up to ₹5,00,000 for new cards issued post Nov 7, 2019).
  • Complimentary domestic airport lounge access (1 per quarter, subject to spend criteria).
  • Personal accident insurance cover up to ₹5 lakh and air accident insurance up to ₹1 crore.
  • 5% discount on movie tickets via BookMyShow.
  • EDGE REWARDS points on spends, with accelerated points on dining and apparel.
  • International transaction facility available.
• Important Note: New issuance of this card has been discontinued. Existing cardholders will receive a new card variant upon expiry.

Other Details

• The card offers the convenience of contactless payments.
• Debit Card PIN can be easily generated at any Axis Bank ATM or by calling Axis Bank Phone Banking.
• In case of emergency (lost/stolen card or suspected misuse), the card can be instantly blocked via SMS, emergency helpline, or Internet Banking.
• SMS facility provides instant alerts for debit card transactions, cash withdrawals, balance enquiries, and other important information.
• All benefits, offers, and card usage are subject to specific terms and conditions.
• Users are advised not to use their Debit Card or online banking facility for collecting and effecting/remitting payments directly/indirectly outside India towards overseas foreign exchange trading through electronic/internet trading portals, as this may contravene the Foreign Exchange Management Act (FEMA), 1999, and KYC/AML regulations.
• Effective May 1, 2024, the terms and conditions on Axis Bank Debit Cards will be updated.
• Effective June 15, 2022, the Axis Bank Edge rewards structure on debit cards was revised.