SBI Virtual Card is a virtual debit card by SBI. SBI Virtual card is specially created product for online transaction. This card has money limit and time limit. Virtual Debit card is also known as Electronic Card or Simulated card. If you don’t want to use your physical credit card due to security reason, you can make use of secured SBI virtual card.
Key Features of SBI Virtual Card
- As it is virtual card, it reduces chance of fraud. If you are regularly involved in doing online transactions, you can opt for this card. It is online card where account details are not communicated to the merchant.
- It is e-card and it is recognized via number. This card is valid up to 48 hours or till the transaction is complete, whichever is earlier.
- Card creation and transaction is authorized only after validation of OTP sent on the registered mobile number.
- The minimum transaction amount for this card is Rs.100 while the maximum amount is Rs.50000. It is as good as daily debit card limit. If card amount is not used in 48 hours remaining amount shall be credited in card holders SBI account.
- The payment for virtual card is done via any of the net banking enabled account, which has transaction rights.
- You can apply for unlimited number of virtual cards in a day. There is no restriction on it. The facility is free without any charges.
- The debit card can be created in the Indian rupee term only.
Also Read – Top 5 Virtual Credit Cards Debit Cards in India
How to create SBI virtual debit card?
Virtual Card facility is available to all SBI customer who is using Internet banking facility. The steps for generating virtual card at SBI site are given below.
- Visit SBI Official website. Login to Net Banking account using credentials username and password.
- On the Top bar you will be able to see e-Card option.
- Click on the option “Generate Virtual Card”.
- You will be asked your account information from where you want to create the card.
- You also need to provide minimum amount required to be loaded on the card. You can load card with maximum Rs.50000.
- Click on the checkbox saying agree to terms and condition.
- Click on the generate tab. Verify the details including card holder name, account number and credit limit. You can make the changes by clicking on the back button.
- OTP will be generated on your registered mobile number. You need to enter OTP and confirm.
- Once your details are verified screen will show virtual debit card with limit, name, CVV and expiry date.
You can use this card for making online payment. The amount shall be debited only when actual transaction take place. Till the time amount will be blocked. Once card is expired or cancelled unutilized amount will be available to customer for use.
Should you opt of for SBI virtual debit card?
Virtual Debit card by SBI is very good facility provided by SBI. Virtual Card provides an easy and secure way of transacting online without providing the Primary Card/ Account information to the merchant. It reduces the risk of exposing entire Credit/ Debit limit/ as the Primary Card/ Account information is not communicated to the merchant.
It is more secure against phising attack, man in middle attack and other frauds. If you are frequent online shopper, you should go for Virtual Debit Card.
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