ICICI Bank BizPay Card – Benefits, Fees & Eligibility

Introduction

The ICICI Bank BizPay Card is a dedicated expense management solution from ICICI Bank, designed to streamline and revolutionize how businesses manage their day-to-day expenses. This prepaid card falls under the corporate/business expense category, offering a reliable, secure, and convenient digital payment solution. Its primary value proposition is to simplify business transactions, provide real-time spending insights, and automate administrative tasks, making it ideal for managing petty cash, fuel, vendor payments, and office expenses.

Prepaid Card Variant & KYC Tiers

• The BizPay Card is a pre-funded and reloadable digital payment solution.
• It is designed for business expense management.
• No specific details regarding Min KYC vs. Full KYC limits or NCMC transit compatibility are provided.

Balance & Transaction Limits

• Maximum Annual Spending Limit: The card offers an annual spending limit of up to ₹50 lakh.
• Transaction Eligibility: Once activated, the card can be used immediately for ECOM (online), POS (point-of-sale), and ATM transactions.
• ATM Cash Withdrawal: Cash withdrawals are permitted at any of the 14,000 ICICI Bank ATMs and other bank ATMs.

Fees and Charges

• Annual Fee: ₹249 + GST as applicable.
• Card Issuance Fee: ₹499 + GST as applicable.
• Card Replacement Fee: ₹200 + GST as applicable.
• CMS Portal Fee: ₹25,000 + GST as applicable.
• Cash Withdrawal Charges: ₹21 + GST as applicable.

Rewards, Offers & Partner Perks

• Cardholders can unlock a world of exciting complimentary offers exclusively available for BizPay Cardholders.

How to Apply & Load Money

How to Apply

• To apply for the BizPay Card, businesses need to contact their Relationship Manager.

How to Load Money

• Funds can be loaded onto the BizPay Card through Immediate Payment Service (IMPS).
• Funds can be loaded through National Electronic Funds Transfer (NEFT).
• Funds can be loaded using Unified Payments Interface (UPI).
• Funds can also be added directly via ICICI Bank's Corporate Portal.

Prepaid Card Review

• Best For: Businesses looking to streamline petty cash expenses, vendor payments, fuel costs, and general office expenses. It is highly recommended for business owners seeking efficient expense management, better control over spending, and a secure digital payment solution.
• Pros:
  • Streamlined management of business expenses, reducing manual data entry and administrative tasks.
  • Wide acceptance and accessibility across numerous merchant outlets and e-commerce platforms.
  • High annual spending limit of up to ₹50 lakh, catering to significant business needs.
  • Provides real-time spending insights and immediate reports for effective cost control.
  • Enables 24x7 instant payments for ECOM, POS, and ATM transactions.
  • Equipped with advanced security features, including an embedded microchip, OTP validation for online transactions, and PIN-based validation for in-store purchases.
  • Offers convenient cash withdrawal options at ATMs.
  • Simple fund loading process via IMPS, NEFT, UPI, or the Corporate Portal.
• Who Should Apply: Business owners and corporates aiming to simplify their expense management process, gain better visibility into spending patterns, and ensure secure, instant payments for various operational costs.

Important Product Details

• Positive Highlights:
  • Designed as a comprehensive expense management solution for businesses.
  • Offers a substantial annual spending limit of ₹50 lakh.
  • Provides real-time spending insights for quick cost control.
  • Facilitates 24x7 instant payments for online, POS, and ATM transactions.
  • Ensures high-level security with an embedded microchip, OTP, and PIN validation.
  • Allows convenient cash withdrawals at ICICI Bank and other bank ATMs.
  • Supports multiple easy fund loading options including IMPS, NEFT, UPI, and the Corporate Portal.
• Negative Highlights:
  • A significant CMS Portal fee of ₹25,000 + GST is applicable.
  • Cash withdrawal transactions incur a charge of ₹21 + GST.

Other Details

• For assistance regarding the BizPay Card, customers can contact customer care at 18001080.
• Refer to the Most Important Terms and Conditions for comprehensive product details and corporate terms and conditions.