Ippb applied fee on virtual debit card
IPPB has said in a press release that customers will now have to pay Rs 25 as maintenance charge and Rs 25 as issue fee on virtual debit cards. This new rule is effective from July 15, 2022.
India Post Payment Bank (IPPB) has imposed a charge on his virtual debit card. IPPB will now levy annual maintenance and re-issue charges on virtual debit cards. Earlier both these types of charges were not applicable. The new rule is effective from July 15, 2022. If you are using India Post Payment Bank Virtual Debit Card (Virtual Debit Card), you will have to pay both of these charges. IPPB is a bank run by the post office, which is operated by the Department of Posts. The Department of Posts comes under the Ministry of Operations. IPPB has said in a press release that customers will now have to pay Rs 25 as maintenance charge and Rs 25 as issue fee on virtual debit cards. This new rule is effective from July 15, 2022.
IPPB has said that the premium account has been kept separate from the annual maintenance charge and issue fee. Both these charges will not be applicable on premium account account. In order to promote digital payments among customers, India Post Payment Bank issues RuPay Virtual Debit Card. This card can be availed or applied by every customer who uses IPPB mobile app. This card is virtual rather than physical and operates in the mobile app itself.
In IPPB’s virtual debit card, the customer can set the daily limit of spending. Later, according to that limit, it can be spent from it. Transactions can be done with this virtual debit card. Payment can be made through virtual cards on e-commerce and merchant portals accepting RuPay cards. The card is virtual, so no account information goes to the merchant or e-commerce companies while making the payment. With this there is no risk of online fraud. It is also easy for the customer to operate it as it is operated through the mobile app.
A minimum limit of one rupee can be kept for purchases on a virtual debit card in a day. The maximum limit for shopping on the e-commerce website has been kept at Rs 50,000. If an IPPB customer issues this card, then he will have to pay a fee of Rs 25. Also, the annual maintenance fee has been reduced to Rs 25. Apart from this, there is no charge for virtual card transactions or card blocking or unblocking. The total monthly transaction limit for bill payment is Rs 10,000. This includes in-store merchant payment, payment for post office savings scheme and payment of digital savings account. Now let us know how to generate virtual debit card.
How to Generate Virtual Debit Card
- Download IPPB App and Login
- Click on Rupay Card and Click on Virtual Debit Card
- On the next page click on ‘Request Virtual Debit Card’
- Rupay card details will appear on the next page
- Accept the terms and conditions and click on ‘Continue’ and confirm
- Enter the OTP received on your registered mobile number
- Your virtual debit card will be generated and the amount will be deducted from your account
: Language Inputs