STATE BANK XPRESS MONEY CARD

STATE BANK XPRESS MONEY CARD
 
STATE BANK XPRESS MONEY CARD IMAGE

State Bank Xpress Money Card, a Co-branded Prepaid Card that can be loaded up to Rs.50,000/-, with UAE Exchange and Financial Services Ltd, for loading Inward Remittances received under Money Transfer Service Scheme (MTSS) of Reserve Bank of India. The new product will go a long way in providing Banking facilities to a large number of beneficiaries receiving inward remittance from abroad, who do not have access to basic banking facilities.

Purpose

  • State Bank Xpress Money Card is an ideal product for loading inward remittance received under Money Transfer Service Scheme (MTSS) of Reserve Bank of India through UAE Exchange and Financial Services Ltd. 

  • It is a prepaid Card which allows Cardholders to access their remittances at ATMs through PIN, at PoS by PIN/signature and e-commerce transactions.

Features

  • It will be issued to beneficiaries receiving inward remittances, no prior Banking Relationship required

  • Currency of Issue is Indian Rupee only.

  • The State Bank Xpress Money Card can be used at State Bank Group ATMs (free), Other Bank ATMs (with charge, current Rs.20/- per withdrawal), at Merchant Establishments or for online transactions in India.

  • Card Validity: The card is valid for 10 years. The expiry date is pre-printed on the cards.

  • The Card can be loaded only with inward remittance received under MTSS of RBI through UAE Exchange and Financial Services Ltd.

Daily Transaction Limit

  • Minimum Cash withdrawal from State Bank ATMs - Rs.100 per withdrawal

  • Maximum Cash withdrawal from State Bank ATMs Rs.40,000 per day

  • Point of Sales Transactions- Rs. 50,000 per day.

Reloading

  • The State Bank Xpress Money Card is a re-loadable card and can be re-loaded 30 times in a calendar year.

  • Minimum reload Rs.100

  • No Maximum stipulation but at any point of time card balance should not exceed Rs.50, 000/-.

Charges

  • Issuance charges: Free.

  • Issue of Replacement card: Rs. 100/-

  • Reload fee: Nil

  • Physical statement of account: Rs. 100 (in case customer requests for it)

Eligibility

The beneficiary needs to provide the following documents for availing a State Bank Xpress Money Card:

  • Application

  • Proof of Identity such as passport, voter ID card, PAN Card etc.

  • Proof of Residence such as Pass port, Driving license etc.

No need to be an State Bank account holder for availing State Bank Xpress Money Card.

Refund

  • If the balance in State Bank Xpress Money Card is below Rs.100.00 and the card is not used for six months or is beyond expiry date, the entire balance will be forfeited and State Bank Xpress Money Card will be closed.

  • If balance in State Bank Xpress Money Card is above Rs.100.00 and the card is expired, balance less Rs.100.00 will be refunded to the bonafide cardholder on application.

Availability

  • At present State Bank Xpress Money Cards will be issued free of cost through all the branches of UAE Exchange and Financial Services Ltd situated in Kerala and Tamilnadu States. The product will be launched across all the branches of UAE Exchange and Financial Services Ltd across the Country shortly.