Axis Bank Virtual Debit Card – Benefits, Fees & Eligibility

Introduction

The Axis Bank Virtual Debit Card offers instant access to funds immediately after account opening, designed for seamless e-commerce and digital transactions. This card provides emergency access to funds, secure digital transactions, easy PIN generation, and an instant card blocking facility. Customers also receive a personalized physical debit card within 15-20 days of account onboarding.

Transaction Limits & Usage

• The daily purchase limit on the Virtual Debit Card is ₹1,00,000, subject to the balance held in the account.
• For minor accounts, the daily cash withdrawal limit is ₹5,000 and the daily purchase limit is ₹10,000.
• The card facilitates secure digital transactions.
• Debit Card PIN can be generated anytime 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 blocked instantly by:
  • Sending SMS ‘BLOCKCARD’ to 5676782 (NRI customers to +919717000002).
  • Calling the emergency helpline number +91-22-67987700 or customer care numbers 1860-419-5555/1860-500-5555.
  • Logging into internet banking and selecting the ‘Block Card’ option in the debit cards section.
• A daily withdrawal limit is not applicable for the general Virtual Debit Card.

Fees and Charges

• Joining/Issuance Fees: NIL
• Annual Fees: NIL
• Joint Holder Fees: Not applicable as the card is not issued to joint holders.
• Replacement Fees: Not applicable as the Virtual Debit Card cannot be replaced.
• Cross-currency mark-up: A 3.5% mark-up will be levied on all international purchase transactions.
• Dynamic Currency Conversion (DCC) markup fee: 1% plus GST will be applicable.
• ATM usage charges: Applicable for both financial & non-financial transactions beyond the set free limit.
• Domestic and International ATM cash withdrawal charges are not specified (marked as NA).
• Domestic and International ATM non-financial transaction charges are not specified (marked as NA).

Rewards & Offers

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

Account & Eligibility Criteria

Eligibility of Virtual Debit Card

• Issued instantly to customers opening accounts through the VCIP (Video KYC) journey under schemes DAPPR, SBSTF, DALBR, SBLBR, SAPRP, and STPRP.
• Also provided for accounts opened under the BBBSA scheme via the Business Correspondent channel.
• Issued as an instant debit card along with the instant kit for customers opening accounts in non-salary segments such as Liberty, Prestige, Priority, Burgundy, Arise, and Senior Citizen.
• Also issued to business schemes like CAC50, CADEL, CANOR, CASEL, CAADV, CABCA, CADIG, CABPL.

Card Usage & Renewal

• The Virtual Debit Card can be used by the customer until its expiry.
• It cannot be renewed once expired.
• It cannot be replaced.
• It is not issued to joint holders.

Documentation for Virtual Debit Card

• The documents required are essentially the same as those for opening accounts, as mentioned in the Eligibility section.

Important Product Details

• Card Network: VISA
• Insurance Cover: Personal Accident Insurance Cover and Air Accident Insurance Cover are not applicable.
• Lounge Access: Not applicable.
• A personalized physical debit card is issued after 15-20 days of account onboarding.

Other Details

• The Virtual Debit Card is designed for emergency access to funds and secure digital transactions.
• Customers are encouraged to understand the guidelines for responsible debit card usage.
• A disclaimer advises against using the Debit Card or online banking for collecting or remitting payments directly or indirectly outside India for overseas foreign exchange trading through electronic/internet trading portals, as this could lead to liability under the Foreign Exchange Management Act (FEMA), 1999, and violations of KYC/AML regulations.