Major Benefits of Debit Card Activation-FAQs. Recent initiatives towards popularizing Debit card. Additional usage fee for using debit card-Press Release
Ministry of Finance
05-December, 2016
Benefits of Debit Card Activation-FAQs
Here are given some of the major benefits of Debit Card activation in the form of Frequently Asked Questions (FAQs) and their Answer format:
QUESTION 1: Why it is important to have active debit cards?
ANSWER: Debit Card makes your payments much more convenient and secure through an electronic payment facility directly from your bank account. Debit card can be used for purchases online or at shops by directly debiting your Bank account. Debit cards can also be used to withdraw cash from an ATM.
QUESTION 2: How is a customer benefited by debit cards?
ANSWER: Major benefits to customers are
Insurance: National Payment Corporation of India has introduced Insurance cover in case of accidental death or permanent disablement of Rs 1 Lac for Non-Premium cards (RuPay Classic) and Rs 2 Lac for Premium cards (RuPay Platinum) to eligible RuPay card holders. The RuPay Insurance programme will continue for financial year 2016-17, i.e. from April 01, 2016 to March 31, 2017.
QUESTION 3: Can I use my debit card if I have not used it for long?
ANSWER: Yes. It may however require activation. Please check the forwarding letter that came with your debit card. Please check your Bank website.
QUESTION 4: How do I generate a PIN ?
ANSWER: Banks provide PIN by mail, which is either dispatched by bank to the cardholder address. Some banks also offer Green Pin facility online. Banks also facilitate change of PIN to suit your requirements.
QUESTION 5: What are the recent steps taken for promoting debit card payments?
ANSWER: Some of the recent initiatives towards popularizing Debit card usage are:
QUESTION 6: What should you do if a shop asks you for an additional amount for use of your debit card?
Answer: As per the norms prescribed by card networks, shops should not ask for any additional amount called surcharge or convenience fee. You can refuse to pay an additional amount for use of your card and register complaint to your bank on its website or otherwise.
QUESTION 7: Can one refuse to pay additional amount as banks have waived their charges on one of debit cards till 31st December 2016.
Answer: Although all banks have waived MDR up to Dec 31, 2016, customers are not required to pay additional amount even after that if demanded by the shopkeeper, as this is to be paid by the shopkeeper.
QUESTION 8: Why should Merchant encourage card use?
ANSWER: Merchant are benefitted to encourage debit card transaction as:
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