ICICI BankICICI Bank BizPay Card – Benefits, Fees & Eligibility
Is the ICICI Bank BizPay Card Right for You?
The ICICI Bank BizPay Card is best suited for users who prioritize Business, Fuel. With a joining fee of ₹499 + GST and a renewal fee of ₹249 + GST, this card is positioned for cardholders who can maximize its benefits to justify the cost. It offers Not Applicable as its primary reward mechanism.
Key Card Details
₹499 + GST
₹249 + GST
Not Applicable
Things to Consider
The card incurs an annual fee, issuance fee, and replacement fee, adding to the overall cost.
A significant CMS Portal fee of ₹25,000 + GST is applicable, which can be substantial for businesses.
Cash withdrawal transactions on the BizPay Card are subject to additional charges of ₹21 + GST.
Benefits & Features
Reward Type
Not Applicable
Fees & Charges
Joining Fee
₹499 + GST
Renewal Fee
₹249 + GST
Cash Advance Charges
₹21 + GST as applicable
Pros & Cons
Pros
Key benefits and features of this card.
Offers simplified and automated expense management for business operations.
Wide acceptance across numerous merchant outlets and e-commerce platforms.
Substantial annual spending limit of ₹ 50 lakh and real-time spending insights.
High-level security features like an embedded microchip, OTP, and PIN validation.
Flexible fund loading options (IMPS, NEFT, UPI, Corporate Portal) and no physical documents.
Cons
Key drawbacks and limitations of this card.
The card incurs an annual fee, issuance fee, and replacement fee, adding to the overall cost.
A significant CMS Portal fee of ₹25,000 + GST is applicable, which can be substantial for businesses.
Cash withdrawal transactions on the BizPay Card are subject to additional charges of ₹21 + GST.
Product Details
Comprehensive expense management solution for businesses.
High annual spending limit of up to ₹ 50 lakh.
Digital payment solution automates data entry and administrative tasks.
Provides real-time spending insights for effective cost control.
Equipped with an embedded microchip for high-level security.
Funds can be loaded easily through IMPS, NEFT, UPI, or Corporate Portal.
No physical documents required for application.
Enables 24x7 instant payments for ECOM, POS, and ATM transactions.
Benefits & Features
Reward Type
Not Applicable
What matters, explained clearly
Introduction
The ICICI Bank BizPay Card is a prepaid card offered by ICICI Bank, positioned as a comprehensive expense management solution for businesses. It aims to revolutionize how businesses manage their expenses by providing a reliable, secure, and convenient platform. Key differentiating benefits include streamlined expense management, a high annual spending limit of up to ₹ 50 lakh, and the ability to access real-time spending insights for effective cost control.
Fees
- Annual Fee: ₹249 + GST as applicable
- Card Issuance Fee: ₹499 + GST as applicable
- Card Replacement Fee: ₹199 + GST as applicable
- CMS Portal Fee: ₹25,000 + GST as applicable
- Cash Withdrawal Charges: ₹21 + GST as applicable
Rewards
- Attractive Offers: Unlock a world of exciting complimentary offers exclusively available for BizPay Cardholders.
- Digital Payment Solution: Automates manual data entry and administrative tasks, saving valuable time and effort.
- Real-Time Spending Insights: Access immediate reports to monitor spending patterns, allowing for quick cost control.
- 24x7 Instant Payment: Once activated, the card can be used immediately for ECOM, POS, and ATM transactions, offering convenience anytime, anywhere.
Card Eligibility Criteria
- No physical documents are required for application.
- To avail services of the ICICI Bank BizPay Card, contact your Relationship Manager.
Card Review
The ICICI Bank BizPay Card is an exceptional tool for businesses seeking to streamline their expense management. It is particularly suited for managing petty cash, vendor payments, fuel expenses, and general office expenditures.
- Pros: This card offers simplified and automated expense management, wide acceptance across numerous merchant outlets and e-commerce platforms, and a substantial annual spending limit of ₹ 50 lakh. Users benefit from real-time spending insights and 24x7 instant payment capabilities. The card also boasts high-level security features like an embedded microchip, OTP, and PIN validation, along with flexible fund loading options (IMPS, NEFT, UPI, Corporate Portal). The convenience of requiring no physical documents for application is a significant advantage.
- Cons: The card comes with several associated fees, including an annual fee, issuance fee, replacement fee, and a notable CMS Portal fee of ₹25,000 + GST, in addition to charges for cash withdrawals.
- Overall Value: The BizPay Card is a game-changer for business owners looking to enhance control, convenience, and efficiency in their financial operations, making it a highly recommended solution for modern business expense management.
Important Product Details
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Positive Highlights
- Designed as an expense management solution for businesses.
- Streamlined management of business expenses.
- Wide acceptance and accessibility across merchant outlets and e-commerce platforms.
- High annual spending limit of up to ₹ 50 lakh.
- Digital payment solution that automates data entry and administrative tasks.
- Provides real-time spending insights for quick cost control.
- Enables 24x7 instant payments for ECOM, POS, and ATM transactions.
- Equipped with an embedded microchip for high-level security.
- Ensures safe transactions with advanced features like OTP and PIN validation.
- Funds can be loaded easily through IMPS, NEFT, UPI, or ICICI Bank's Corporate Portal.
- No physical documents required for application.
- Perfect for various business expenses such as fuel, vendor payments, and office expenses.
- Cash withdrawal facility available at 14,000 ICICI Bank ATMs and other bank ATMs.
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Negative Highlights
- Annual Fee: ₹249 + GST
- Card Issuance Fee: ₹499 + GST
- Card Replacement Fee: ₹199 + GST
- CMS Portal Fee: ₹25,000 + GST
- Cash Withdrawal Charges: ₹21 + GST
Other Details
- Users can log in to the Self Care Portal and Corporate Portal for card management and real-time spending insights.
- For assistance regarding the BizPay Card, customers can contact customer care at 18001080.
- The BizPay Card is a pre-funded instrument.
- Important Terms & Conditions for the card and corporate usage are available for review.