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Q. What are the benefits of an SME Banking World Debit Card?
The SME Banking World Debit Card has all the basic features of a retail debit card. In addition, it has a few exclusive features catering specifically to the needs of an SME customer.
Exclusive features:
- Enhanced daily spending limit upto a maximum of Rs 5 lakhs for purchase & ATM cash withdrawal
- Card can be issued to all account signatories despite current account operating mandate/ limit restrictions basis a separate resolution provided by you
- Differential limits across different cards for the same account thus mitigating the risk of issuing multiple cards
- Card will be personalised with not only the cardholder name but also with the preferred Company name
- 360 Degree Rewards which will reward you not only for POS spends but also for your overall banking relation
- Offers/ discounts pertaining to travel, business solutions, communication and office supplies which particularly cater to SME need
General features:
- Unique protection against misuse of lost/stolen card
- Zero petrol surcharge at all petrol pumps
- Reward points accumulated can be redeemed in the form of credit to your company account basis your request
Q. Where all can the Standard Chartered SME Banking World Debit Card be used?
The SME Banking World Debit Card provides access to your account whenever you want, wherever you want. You can use this card to purchase goods at over 30 million merchant establishments and withdraw cash from over 1 million ATMs across the world.
Q. What are the fees for holding a Standard Chartered SME Banking World Debit Card?
The SME Banking World Debit Card comes at ZERO Joining & Annual fees for all accounts except Business Plus where an annual fee is applicable as mentioned in the corresponding Schedule of Charges
Q. What is the amount up to which I can make payments with the help of an SME Banking World Debit Card?
You can make use of your SME Banking World Debit Card upto a maximum daily limit of Rs 500,000 for cash withdrawals and another Rs. 500,000 for making purchases, subject to balances being available in your account.
Q. How can different limits be availed for different cards issued to the same account?
The account opening form/ Debit Application form has a list of limit options available – INR, 10,000; 50,000, 1 lac, 2 lacs, 3lacs, 5 lacs.
Any of these limits can be selected for each of the cardholder.
Q. Who can own a SME Debit card?
All SME non individual customers who have a current account or overdraft account can avail of a SME Debit card .
Q. How can a card be issued to each account signatory?
Customer is required to provide a Board Resolution/ Partnership authority letter supporting the issuance of the SME card to the signatories required along with the limit to be enabled for each card.
Hence a card can be issued to all signatories irrespective of the current account operating mandate.
Q. Can I convert my existing Debit Card into a SME Banking World Debit Card?
Yes, any SME customer who has a Retail debit card can convert the same into SME Debit card with the limit being less than or equal to the existing Retail card . Please call SME Help line for replacement of the Retail card with SME. However if the limit on the card needs to be enhanced, then a Board Resolution/ Partnership letter will be required.
For SME customers who own an existing Retail debit card, the retail card will be automatically replaced by the SME debit card with the existing limit during renewal.
Q. How can I avail of the petrol surcharge waiver using my SME Banking World Debit Card?
You can avail the petrol surcharge waiver of 2.5% simply by using the Standard Chartered SME Banking World Debit Card for making payments. This waiver is available at all petrol pumps across the country. (Kindly note that the petroleum outlets will be identified using the merchant category code, the franchise under which the retailer has registered) The waiver will be limited to a maximum fuel spend of Rs 20,000 per account, per month.
Q. What is the 360 Degree Rewards program being offered on the SME Banking World Debit Card?
The SME Banking World Debit Card comes with a comprehensive rewards program. It allows you to earn points not only for POS (Point of Sale) transaction spends but also for various product sign ups.
Each reward point you earn is worth a Rupee and can be redeemed as cash credit into your company's account once you have accumulated a minimum of 500 points. There is no limit to the cash back you can avail.
But do bear in mind, the points you accumulate in a calendar year are valid and available for redemption only during the calendar year in question. And, the reward points are valid only as long as you have a valid SME Banking World Debit Card across the relationship. The reward points will be displayed in your current account statement
Q. Who is eligible for the 360 Degree Rewards program?
All SME customers using an SME Banking World Debit Card are eligible for the 360 Degree Rewards program.
Q. To which account will the customer earn reward points?
The reward points will be accrued to the company account debited for the transaction. In case of multiple accounts linked to a debit card the transacted account will accrue the reward points. The reward points will be earned at an account level and the total reward points at a company level will be available to each cardholder for redemption
Q. How do I redeem my points?
A minimum of 500 points needs to be available cumulatively at the customer relationship level during the program period in order to be able to redeem the points. Every redemption request can only be made for a minimum of 500 points.
Q. Do the rewards points have an expiry date?
All points will lapse at the end of the calendar year. E.g. For the points earned in the year 2011, the points lapse on 31st Dec 2011
Points accumulated in a calendar year are valid & available for redemption in that calendar year only. Additional redemption grace period of 6 months will be available for new cards in the first year. E.g. for a card issued in 2011, points can be accumulated & redeemed until June 2012. For points earned in 2012, redemption can be done until Dec 2012
Q. What do I do to redeem my points?
The cardholder needs to call the SME help line to request for redemption of points. The bank will not redeem your points if not requested by you.
Q. What can I redeem the reward point for?
The reward points will be redeemed for cash. The amount will be credited to the customer company account once he has requested for redemption. One point is equal to one Rupee.
Q. How will I know the points earned by me?
The Current account statement will carry the total number of reward points that all the card holders of the same account have earned by using their debit cards. The customer can also call SME Help line to know the total reward points.
Q. How many times can I redeem points during the program period?
There are no restrictions on the number of times a cardholder can redeem during the program period. However every request for redemption needs to be for a minimum of 500 points.
Q. Where can I get the details of the offers & discounts at various merchant outlets, being offered as part of the SME Banking World Debit Card?
You can log on to our website www.standardchartered.co.in and check under the SME Banking World Debit Card section for the latest offers available on the SME Banking World Debit Card.
Q. What is the immediate action to be taken in case of loss of the SME Banking World Debit Card?
It is important that you report the card loss immediately by calling the SME banking helpline.
Q. What is the unique protection feature being offered on the SME Banking World Debit Card?
All Standard Chartered Debit Cards including the SME Banking World Debit Card are being covered under the lost card liability protection which protects the cardholder against misuse of their lost or stolen SME Banking World Debit Card.
Q. What kind of misuse will be covered under this feature?
Misuse of the SME Banking World Debit Card at Point Of Sale will be covered under this feature. All PIN based transactions including ATM transactions will not be covered. Internet & MOTO transactions are also excluded from the cover.
Q. What is the limit of cover provided under the lost card liability feature?
A maximum of Rs 50,000 per card would be covered under this feature. The cover will be applicable only for POS transactions 7 days prior to reporting and 30 days post reporting of loss of card (i.e. hotlisting time of the card)
Q. What does the cardholder have to do in case their SME Banking World Debit Card is lost or stolen?
The cardholder needs to immediately inform the bank and get his debit card hotlisted. In case any fraudulent transactions have taken place using the debit card, the cardholder will need to lodge a claim by submitting the following documents:
- Claim form for lost card liability (to be made available at the branches)
- Original FIR copy clearly mentioning the loss of the debit card and its number.
- A copy of the statement of transactions with each of the transactions claimed to be fraudulent clearly encircled and signed by the cardholder who has signed the claim form.
Q. What is the maximum time in which a claim will be admissible?
All claims have to be intimated within 60 days of the occurrence of the event. Claims shall not be admissible after this period.
Q.In how much time would the claim amount be credited into the cardholders account?
The claim amount would be credited into the cardholders account within 21 working days or 5 working days of closure of the investigation by the Bank provided all the required documents have been submitted by the cardholder.
Q. What is required to be done incase a cardholder exits the company?
The company will be required to provide a written instruction to the bank requesting for hotlisting of the card of the corresponding cardholder who has exited the company
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