HDFC Bank Central Travel Account Credit Card – Benefits, Fees & Eligibility

Introduction

The HDFC Bank Central Travel Account Card is a specialized commercial credit card designed to streamline and manage corporate travel expenses. Positioned as a comprehensive solution for businesses, it offers extended payment terms of up to 50 days, detailed travel data reports for enhanced visibility, and seamless integration with existing corporate ERP systems. Its key differentiating benefits include significant savings on business travel and software purchases through SmartBuy BizDeals, comprehensive insurance coverage for business travel accidents, and automation features that eliminate manual invoice processing and employee reimbursements.

Fees

• Joining Fee: No joining fee.
• Renewal Fee: No renewal fee.
• Late Payment Fees:
  • ₹100 for amounts between ₹100 and ₹500.
  • ₹750 for amounts above ₹10,000.
• Non-Payment Charges: 1.50% per month (18% annually).
• Payment Return Fee: 2% of the payment amount, subject to a minimum charge of ₹450.
• Cash Processing Fee: 1% of the transaction amount.
• Retrieval Fee: ₹125 per charge slip.
• Railway Ticket Purchase Fee: 1.8% of the transaction amount if payment is made through the HDFC Bank payment gateway.
• Rent Payment Fee: 1% fee on rent payments made via credit cards on platforms like CRED, Paytm, and others, with a maximum charge of ₹3,000 per transaction.
• Reissue Fee: ₹100 for a replacement card.
• Goods and Services Tax (GST):
  • Applicable GST depends on the Place of Provision (POP) and Place of Supply (POS). If POP and POS are in the same state, CGST and SGST/UTGST apply; otherwise, IGST applies.
  • GST for Travel Account fees, charges, or interest transactions billed on the statement date will be reflected in the next month's statement.
  • GST levied will not be reversed for any disputes related to fees, charges, or interest.

Rewards

• Extended Payment Terms: Up to 50 days.
• Travel Data Reports: Access to detailed travel data reports.
• Airline Fare Management: Direct debiting of airline fares to the card, with automatic reflection of cancellations.
• Negotiation Advantage: Facilitates better negotiations with preferred airlines and hotels.
• ERP Integration: Integrate existing corporate ERP system without any additional investment.
• SmartBuy BizDeals Benefits:
  • Avail up to 40% savings on Business travel and software purchases via smartbuy.hdfcbank.com/business.
  • Business Travel Benefits via MMT MyBiz:
    • 4% off on Flights and Hotels booking.
    • Discounted Fares, Free Meal & Seat Selection, Low Fees for Cancellation.
  • Business Productivity Tools via Nuclei:
    • Instant discount on Business Software such as Google Workspace, Tally Prime, AWS, Microsoft Azure & more.
• Detailed Reports:
  • 24x7 online access to customized MIS reports.
  • Consolidated statement for visibility into travel expenses.
  • Airline / Hotel / Merchant wise break up reports.
  • Data information for easy reconciliation and payment.
• Automation Benefits:
  • Eliminates the need to process multiple invoices.
  • Reduces multiple employee reimbursements and cash advances.
  • Streamlines accounting procedures by consolidating transaction data from around the world.
• Insurance Covers:
  • Air Accident Insurance: Up to INR 30 Lakhs.
  • Lost Baggage: Up to INR 25,000 for International Flights only.
  • Delay in Baggage (by 6 hours): Up to INR 10,000 for International Flights only.
  • Loss of Passport/Documents: Up to INR 10,000 for International Travel Only.
  • Flight Delay: Up to INR 15,000 for International Travel Only (deductible - 12 hours).
• Net Fare Debiting: Net fare charged by the Airline is debited to the card, and all cancellations come on the card.
• Self Booking Tool (SBT) Usage: The CTA card can be used on Self Booking Tool (SBT).
• Expense Types: Can be used for all Travel related expenses such as Air, Hotel & VISA bookings.
• Data Capture:
  • L1: Financial data - Transaction amount, Transaction date, Merchant name, Card number, etc.
  • L2: Travel data - Ticket number, Routing, Invoice number, etc.
  • L3: Custom data - Employee ID, cost center, project code etc.
• ERP Data Push: Transaction-wise data can be pushed to corporate’s ERP system (e.g., Concur, Oracle, Happay, Zoho) at no cost from the bank, though the corporate will bear the cost of integration with their ERP.

Rewards Redemption Guide

• All refunds for cancelled bookings are credited back to the same CTA card.

Card Eligibility Criteria

• Target Corporates: Corporates looking for centralization of travel expenses management.
• Minimum Annual Turnover: 10 Crores.
• Alternative for Lower Turnover: Companies with less than 10 Crores turnover can still apply based on secured collaterals like Fixed Deposit.

Card Review

The HDFC Bank Central Travel Account Card is an excellent solution for large corporates aiming to centralize and optimize their business travel expenses. Its comprehensive suite of features, including extended payment terms, detailed reporting, and seamless ERP integration, significantly enhances financial control and operational efficiency. The card offers substantial value through SmartBuy BizDeals, providing savings on travel and essential business software, alongside robust insurance coverage for business travel. While it does have various fees for specific transactions like late payments, cash processing, and rent payments, the absence of joining and renewal fees, coupled with its automation capabilities, makes it a cost-effective tool for managing complex corporate travel. This card is ideal for businesses with an annual turnover of 10 Crores or more (or those willing to provide collateral) that seek transparency, control, and significant savings in their travel expenditure.

Important Product Details

• Positive Highlights:
  • No joining or renewal fees.
  • Extended payment terms of up to 50 days.
  • Comprehensive travel data reports and customized MIS.
  • Seamless integration with existing corporate ERP systems.
  • Significant savings (up to 40%) on business travel and software via SmartBuy BizDeals (MMT MyBiz, Nuclei).
  • Robust insurance coverage including Air Accident, Lost/Delayed Baggage, Loss of Passport/Docs, and Flight Delay.
  • Automation features eliminate manual invoice processing and employee reimbursements.
  • Supports usage on Self Booking Tools (SBT).
  • Ability to capture detailed L1, L2, and L3 data for enhanced reconciliation.
  • Transaction data can be pushed to corporate ERP systems at no cost from the bank.
• Negative Highlights:
  • Applicable fees for late payments, non-payments, payment returns, cash processing, retrieval, railway ticket purchases, rent payments, and card reissuance.
  • Minimum annual turnover requirement of 10 Crores (though collateral can be an alternative).
  • Corporate bears the cost of ERP integration.

Other Details

• The Central Travel Account is designed for managing and streamlining corporate expenses, offering transparency and control over travel expenses, extended payment terms, enhanced travel data reports, and streamlined accounting procedures.
• Bookings are completed by lodging the CTA with the corporate's travel agency. Employees raise Travel Requisition Forms (TRF) to the agency, which then utilizes the CTA card for authorized travel requisitions.
• Pass Thru Transactions: Airlines accepting payment directly via the corporate's credit card (merchant name appears as the Airline name on the statement).
• Non Pass Thru Transactions: Transactions where the airline ticket payment is made by the travel agent to the airline and then charged to the corporate (TMC name appears as the merchant). Typically for LCC airlines.
• OTP is not required for CTA transactions when bookings are completed by a Travel agency on GDS or HDFC payment gateway.
• Dispute Process: Transactions not recognized by the corporate must be disputed before the due date with a valid reason. The bank provides temporary credit for the disputed amount and contacts the TMC/merchant for validation. If no response within 30 days, the bank will chargeback the merchant.
• Dispute Timeframe: Disputes can be raised within 60 days from the receipt of the statement. Disputes raised post due date may incur finance/late fee charges.
• Double Charge by TMC: The TMC can provide a reversal via Payment Gateway, credit note, etc., or the corporate can raise a dispute.
• Travel Agency Certification: All travel agencies with GDS & Payment gateway facility can debit the corporate’s CTA card. Enhanced data can only be provided by franchise-certified travel agencies. Certification involves introduction to franchisee networks (MasterCard, VISA, Diners) via the Products team.
• Reconciliation: Corporates receive a consolidated enhanced data report for all transactions debited on the CTA card, which can also be pulled from online reporting tools.
• Payment Options: Payments can be made via cheque, auto debits, or online modes such as NEFT, RTGS. Full payment (minus disputed transactions) needs to be made to the Bank.
• Servicing Channel: A dedicated CTA Support desk handles CTA-related queries, and requests can also be routed through Corporate Assist.
• Commercial Credit Card approvals are at the sole discretion of HDFC Bank Limited and are subject to documentation and verification as per the Bank's requirement. Interest rates are subject to change.