What is SBI Prepaid Card?
In this article, we will discuss SBI Prepaid card(s) in particular but before getting into the main topic let’s understand what prepaid cards mean?
As the name suggests it’s prepaid means your card is already loaded with money. In other words, a prepaid card means you use this card to pay for things up to the money loaded on the card. However, this card will not be linked to any bank account, unlike a debit card. At times, this card is also referred to as a prepaid debit card or stored value card. You can use this card at many online and offline stores. Generally, these cards come with VISA or Mastercard logo so by looks one cannot differentiate this card from a debit/credit card.
These cards are convenient replacements for cash in case someone doesn’t like to carry a lot of cash. Like a credit card, you don’t have to pay the bill as money is already loaded nor do you need to have a bank account linked with this card. Unlike a credit card, you don’t need to have a good credit history to own a prepaid card as you’re already paying for it.
In the same context, the State Bank of India also offers Prepaid cards. They have a wide variety of prepaid cards to meet the different needs of customers or corporates. In the next section, we are going to cover different types of prepaid cards offered by SBI with their features and charges.
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Card Types, Charges, Features & Limits
Here is the list of SBI prepaid card(s)
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SBI Gift Card
| Description | SBI Gift Card |
|---|---|
| Definition | During the festive season or on special occasions, giving gifts to your loved one is an important part of Indian culture. Usually, gifts have been given in the form of cash or kind. Due to advancements in technology instead of giving gifts or cash you can give SBI Gift Card so your loved ones can buy anything of their choice. |
| Currency of Issue | INR |
| Validity of the Card | Max 3 Years or when the cash gets over. |
| Eligibility Criteria | Any SBI Customer |
| Maximum Amount of Load | Rs.10000/- |
| Minimum Amount of Load | Rs.500/- |
| Re-loadable | No |
| Daily Transaction Limit | No daily limit can be used at any POS of Indian merchants or e-commerce websites. But cannot withdraw cash at ATMs |
| Balance Enquiry | Free at SBI ATMs or online at https://prepaid.onlinesbi.com and a charge of Rs 9/- at other bank ATMs. |
| Issuance Fee | Rs.100+GST |
| Online Issuance | Yes |
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SBI Achiever Card
| Description | SBI Achiever Card |
|---|---|
| Definition | It’s an ideal card for rewarding the achievers in any field. It’s more like a non-cash incentive/payment to your employees or nonemployees to boost their confidence to perform relentlessly |
| Currency of Issue | INR |
| Validity of the Card | 10 Years |
| Eligibility Criteria | Corporate to give incentives to their employees |
| Maximum Amount of Load | Rs 1lac ( Restricted Rs.50k per month by paying cash) |
| Minimum Amount of Load | Min Rs.100 per load but balance should not exceed Rs.1ac |
| Re-loadable | Yes |
| Daily Transaction Limit | No daily limit can be used at any POS of Indian merchants or e-commerce websites. But cannot withdraw cash at ATMs. |
| Balance Enquiry | Free at SBI ATMs or online at https://prepaid.onlinesbi.com and a charge of Rs 9/- at other bank ATMs. |
| Issuance Fee | Rs.150+GST |
| Online Issuance | No |
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SBI eZ-Pay Card
| Description | SBI eZ-Pay Card |
|---|---|
| Definition | SBI Prepaid card(s) are issued in Indian Rupees in association with VISA SBI EZ-Pay is a proposition for employers. Suitable for making periodical payments like salaries or wages to employees who are required to work at a different location. Therefore, cards can be loaded at a single point and funds would be available to all employees immediately. |
| Currency of Issue | INR |
| Validity of the Card | 10 Years |
| Eligibility Criteria | Corporate to give incentives to their employees |
| Maximum Amount of Load | Rs 1lac ( Restricted Rs.50k per month by paying cash) |
| Minimum Amount of Load | Min Rs.100 per load but balance should not exceed Rs.1ac |
| Re-loadable | Yes |
| Daily Transaction Limit | Min Cash withdrawal at SBI ATM: Rs.100/- Max Cash Withdrawal at SBI ATM: Rs.40000/- A POS or E-Commerce site: Upto the balance available in the card |
| Balance Enquiry | Free at SBI ATMs or online at https://prepaid.onlinesbi.com and a charge of Rs 9/- at other bank ATMs. |
| Issuance Fee | Rs.150+GST |
| Online Issuance | No |
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SBI Foreign Travel Card
| Description | SBI Foreign Travel Card |
|---|---|
| Definition | SBI Foreign travel card is suitable for foreign travels without needing to carry cash during trips and exchange them in foreign currency. It’s a chip base EMV compliant card that offers convenient and worry-free travel anywhere in the world. |
| Currency of Issue | Available in 8 foreign currencies: US Dollars (USD), Pound Sterling (GBP), Euro (EUR), Japanese Yen (YEN), Canadian Dollar (CAD), Australian Dollar (AUD), Saudi Riyal (SAR), and Singapore Dollar (SGD) |
| Validity of the Card | 5 Years |
| Eligibility Criteria | 1) Any bonafide Citizen of India 2) Corporate sending employees abroad for official purpose 3) Parents of students going to abroad for studies 4) Foreigners residing in India as per KYC norms |
| Maximum Amount of Load | As per RBI/FEMA guidelines from time to time for a visit. |
| Minimum Amount of Load | USD 200 Pounds 120 Euros 150 CAD 200 AUD 200 JPY 15800 SAR 750 SGD 250 |
| Re-loadable | Yes |
| Daily Transaction Limit | ATM: Max US$ 3000 or equivalent POS: Max US$ 5000 or equivalent ECOM: MaxUS$ 5000 or equivalent |
| Balance Enquiry | State bank ATMs or online at https://prepaid.onlinesbi.com |
| Issuance Fee | Rs.100+GST |
| Online Issuance | No |
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SBI Imprest Card
| Description | SBI Imprest Card |
|---|---|
| Definition | It’s just another variant of the EZ Pay card cobranded with the railway to meet the imprest need. Imprest system means to maintain the petty cash likewise small amount of money given for office supplies or catered lunch. |
| Currency of Issue | INR |
| Validity of the Card | 10 Years |
| Eligibility Criteria | Railway Employees |
| Maximum Amount of Load | Rs 1lac (Restricted Rs.50k per month by paying cash) |
| Minimum Amount of Load | Min Rs.100 per load but balance should not exceed Rs.1ac |
| Re-loadable | Yes |
| Daily Transaction Limit | Min Cash withdrawal at SBI ATM: Rs.100/- Max Cash Withdrawal at SBI ATM: Rs.40000/- A POS or E-Commerce site: Upto the balance available in the card |
| Balance Enquiry | Free at SBI ATMs or online at https://prepaid.onlinesbi.com and a charge of Rs 9/- at other bank ATMs. |
| Issuance Fee | Rs.150+GST |
| Online Issuance | No |
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How to Apply Online?
It’s a partial online application method as submission of KYC documents and application form has to be done at the authorized branches of the State Bank of India except for Gift Card which is possible online for SBI customers via Internet Banking.
Here is the list of the KYC document needed at SBI for issuance of the SBI Prepaid cards:
| Application form for respective Card |
| Identity Proof: PAN, Voter ID, Driving License, Aadhar Card, Passport, Negra Card |
| Address Proof: Passport, Driving License, Aadhar Card, Ration Card |
| Additional Document for Foreign Travel Card: Passport, VISA, Form A2, Form 60, Application cum declaration undertaking |
How to Apply Gift Card Online?
Time needed: 1 minute
Steps to the online application for SBI Prepaid Gift Card via Internet Banking
- Visit the SBI Internet Login Page
Click on this URL and punch your Internet Banking Credentials: https://retail.onlinesbi.com/
- Select e-services Tab
On the top blue band, you will see the e-services button, on selecting that dropdown will open, choose e-card from there.
- Choose Gift Cards
Upon selecting the e-cards section, you will see different opens like a gift cards, prepaid cards, credit cards, etc. Please choose the Gift Card.
- Create Gift Card
After clicking on Gift card, you will see three tabs like create, top-up, or view history. As we have to create a new gift card choose Create Tab
- Enter all the details as shown in the above form and submit the application
Punch your DOB, address, and beneficiary name, choose the type of card, add beneficiary address and click on submit button.
- OTP Verification
Enter the OTP received on your registered number for verification and you are done with the issuance of a card. The issuance fee will be debited from a chosen bank account and on receipt of this card by the beneficiary you can top up this card to avoid any misuse.
- Gift Card Activation
On receipt of this card at the beneficiary end, you can use Top Up Tab for recharging this card, enter the card number, amount, remarks if any, select the account and click on submit button followed with OTP Verification.
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