Federal Bank StarBiz Visa Credit Card – Benefits, Fees & Eligibility

Fed StarBiz Credit Card Visa

Introduction

The Fed StarBiz Credit Card Visa is designed for businesses, offering seamless merchant and online transactions by linking directly to the customer's existing Overdraft (OD) or Cash Credit (CC) account with Federal Bank. This card caters to business requirements for individuals and sole proprietors, allowing daily usage limits up to ₹3 lakhs or the available limit on the underlying account, whichever is lower. It boasts enhanced security features and wide acceptance, simplifying business finances by reflecting all card transactions in the linked OD/CC account, eliminating the need for separate statements.

Fees

• Issuance Fee: Rs. 275 + GST
• Annual Fee: Rs. 275 + GST
• Reissuance Fee: Rs. 225 + GST
• Replacement Fee (Lost/Stolen Card): Rs. 225 + applicable taxes
• Late Payment Fee: Not applicable, as all repayment is linked to the underlying OD/CC account.

Rewards

• Linked to OD/CC Account: Provides seamless integration with business finances, utilizing limits up to ₹50 lakhs from the customer's existing Overdraft (OD) or Cash Credit (CC) account.
• Mode of Transactions: Supports Point of Sale (POS), E-commerce (Ecom), and Tap and Pay transactions.
• Enhanced Security: Benefits from advanced security features such as tokenization and encryption, ensuring safe and secure transactions.
• Wide Acceptance: Can be used at millions of merchants across India, wherever RuPay and Visa are accepted.
• Daily Usage Limits: Customers can perform transactions up to ₹3 lakhs per day or the available limit on the underlying account, whichever is lower.
• No Separate Statements: All card transactions will reflect directly in the underlying OD/CC account, removing the need for separate card statements.

Card Eligibility Criteria

• Account Requirement: Must be a Federal Bank OD account holder with limits up to ₹50 Lacs.
• Business Definition: Individuals engaged in activities (manufacturing and services) coming under the definition of the MSMED Act 2006.
• Constitution: Only individuals and sole proprietors are eligible.
• Nationality: Indian resident.

Important Product Details

• The card is linked to the customer's existing Overdraft (OD) or Cash Credit (CC) account with limits up to ₹50 lakhs.
• Supports POS, Ecom, and Tap and Pay transactions.
• Features advanced security measures like tokenization and encryption.
• Accepted at millions of merchants across India on both RuPay and Visa networks.
• Offers daily usage limits up to ₹3 lakhs or the available limit on the underlying account, whichever is lower.
• All card transactions are reflected in the underlying OD/CC account, simplifying statements.
• Card validity is 5 years, subject to the underlying account status.
• No late payment fee as repayments are directly managed through the linked OD/CC account.

Other Details

• Card Type: Available as a physical or virtual payment instrument.
• Network: Federal Bank Fed StarBiz Credit Cards are offered on both RuPay and Visa networks; this specific card is on the Visa network.
• PIN Number: A four-digit code used to verify the card owner's identity and protect against fraud.
• PIN Generation:
  • Using Federal Bank ATM (Soft PIN option): Insert/Swipe card, select 'Soft PIN/PIN Change', select 'Soft PIN', select 'Generate a New Soft PIN' to receive it on the registered mobile (valid for 24 hours). Then, select 'Proceed To Set PIN', enter the received Soft PIN, and set a new 4-digit PIN.
  • Using Interactive Voice Response (IVR) System: Dial 04846716700 or 04842846699 from the registered mobile, press 1, enter the last 6 digits of the card number, date of birth (DDMMYYYY), expiry date (MMYY), then enter and re-enter a new 4-digit PIN.
• Card Activation:
  • For Physical Card (POS/Contactless): First set the PIN via ATM or IVR.
  • For E-commerce transactions: Activate via IVR (04846716700 or 04842846699) from the registered mobile.
• CVV Number: A 3-digit code on the back of the credit card, acting as an additional security layer for online transactions.
• Contactless Card:
  • Indicated by a 'wifi' symbol on the card.
  • Enables payments by tapping the card against an NFC-enabled POS machine.
  • Max limit for contactless payment is Rs. 5,000 without PIN, and Rs. 50,000 with PIN.
  • Activation/Deactivation: Can be enabled/disabled for Online/Contactless transactions via IVR (04846716700 or 04842846699) or FedNet (Card Services → Manage Card → Enable Domestic Contactless).
• Manage Transaction Limits (Domestic): Can be managed via FedNet (Card Services → Manage Card → Manage Transaction Limits).
• Increase Card Limit: The card limit is a function of the underlying OD/CC account. The OD/CC account limit can be increased based on the regular process.
• Disputing a Transaction:
  • Initiate a dispute within 30 days of making the transaction.
  • Channels for reporting:
    • Visit the nearest Federal Bank branch.
    • Through IVR: Toll-free numbers 1800-420-1199/1800-425-1199/0484-2630994 (for abroad calls).
    • Email: creditcards@federalbank.co.in (First level - Grievance Redressal Officer).
    • Second Level (Principal Nodal Officer): support@federalbank.co.in, if not satisfied with the first-level resolution.
  • Resolution Time: Billing disputes are normally addressed within 14 working days, depending on the nature of the dispute. Intimation will be provided via SMS/e-mail or call.
• Renewal Card: Customers need to apply for a renewal card based on the underlying OD/CC account status and its limits not exceeding ₹50 Lacs.
• Updating Communication Details (Address, Mobile, Email ID): Place a request for the underlying OD/CC account facility; it will be auto-updated in the card.
• How to Apply: By submitting the application at the nearest Federal Bank branch.
• Documents Required for Application: Duly signed application form mentioning the underlying account number and details.
• Track Application Status: By contacting Branch staff or Business Banking Relationship Manager (RM).
• Re-dispatch Undelivered Card: Contact toll-free numbers 1800-420-1199/1800-425-1199/0484-2630994. The Bank team will usually contact the customer and arrange for re-dispatch.