Now get EMI facility on Debit Card : ICICI bank

First time in Indian Banking History ICICI Bank announces the launch of EMI (Equated Monthly Installments) for its debit card customers. This will enable customers to convert their high value transactions into easy installments. With upcomming Festival season bank has taken this inative to get hold credit market/This facility allows ICICI Bank Debit Card customers who have a linked fixed deposit with their bank account to convert their high value transactions into easy installments.
Here are some of broader Features:
    No processing fee.
    Tenure option of 3, 6 ,9 and 12 months.
    Low interest rate of 13%(on reducing basis) for 3, 6, 9 and 12 month tenures.
    Currently facility available for all ICICI Bank Savings and select Current account category customers having a linked fixed deposit other than tax saver fixed deposits and PPF.
    EMI facility is applicable on all transactions above Rs.10,000 at participating stores.
    EMI conversion without the hassles of any paperwork.
    Exclusive tie up with Samsung in 9000 stores pan India (Smart phones, Tablets, Televisions, Refrigerators, Air – Conditioners, Microwave etc).
    Leverage your existing fixed deposits to convert big ticket purchases to easily manageable installments.
    Earn up to 6 PAYBACK points on transactions.
    Coming soon: EMI on Call, EMI facility at other partners across categories.
Process to avail of EMI facility:
    Customer does a transaction at participating partner stores and selects the tenure of EMI.
    Customer pays by ICICI Bank Debit Card and inputs the ATM PIN at specified terminals in the store.
    Transaction is authorized and conversion to EMI happens post successful validation of parameters.
    EMI conversion and reversal of amount in the account happens within 2 business working days after the transaction date.
    First installment will be deducted 30 days from reversal of the money in the account.
    Account statement will display the transaction with appropriate narration.

Debit card will require ATM PIN to do POS Transaction

For using your debit card at retail outlets, you need to use your existing ATM PIN. This is as per RBI mandate. For every merchant transaction that involves payment through debit card — for example, shopping at a mall, payment at a restaurant or petrol pump — the debit card holder would have to key in the ATM PIN after the card is swiped at the handheld electronic device. The transaction will be validated only after the account holder keys in the PIN.This would be applicable across every merchant transaction in the country.

To increase security of card transactions. If entering a PIN is mandatory, then someone with a stolen card will not be able to use it for payment. The RBI has asked all banks to put in place measures to make card transactions more secure. The banks are looking to develop backend technology to enhance security. Till now Banks that have not introduced the system are in the process of doing so

Understand your Credit card /Debit card number

Credit card/Debit card numbers means a lot . Let explore this .A credit card or debit card can anywhere from twelve to nineteen digits long. Most credit cards/debit card consist of sixteen numbers.

The First Digit ( It is called a Major Industry Identifier)

    1 and 2 are Airline cards
    3 – Travel and Entertainment
 ex. Amex
    4, 5 – Banking and Financial
    ex. Visa, Mastercard
    6 – Merchandising and Banking
    ex. Discover, Diners Club
    7 – Petroleum
    8 – Telecom
    9 – Misc.

Digits 2 to 6 (Issuer ID)

Although all Visa cards start with the number 4, the following 5 digits indicate which bank that issued the Visa card. Mastercards start with 5, Discover starts with 6. You’ll notice that some websites don’t ask you what type of card you have — they obviously know what the digits on the card mean.

Digits 7to 15 (Account ID)

The unique number that identifies your account

Digit 16 (Checksum)

This single digit is one of the most important ones on the card. Much like the last digit of a barcode, the sole purpose of this digit is to allow validation of the rest of the number. In other words, there is a mathematical relationship between the numbers on the card, so if the number is entered incorrectly, the card validator system can indicate the card number was entered incorrectly.

No More Queue for TAX payment: PAY TAX by ATM :Union Bank of bank

Government has made tax payment a convenient way to pay your income taxes using  nearest ATM. You don’t need to fill lengthy forms or stand in queues. It will be available 24×7 and is also saves paper. Currently the scheme has been launched to Union Bank of India customers but it will be extended to other banks soon.

How does it work?
 1) For a Union bank  debit card holder, you will register at the bank’s website
2)This site is in turn linked to the National Securities Depositories Ltd which will help validate the permanent account number (PAN) of individuals and the Tax Deduction Account Number (TAN) provided to taxpayers.
3)On successful registration you can go to the ATM (currently Union Bank ATM only) and access Income Tax menu
4) It will display his PAN number and ask for the tax amount that is to be paid along with item-wise details of any other amount the assessee may want to include in the tax payment.
5)Select the relevant challan no. and amount of tax, interest amount (if any)
6)On confirmation, the tax amount will be debited from the customer’s account and the ATM will generate a receipt with a special number. After 24 hours, customers can log on to the bank’s website, submit the special number and print a challan.

Individuals can make payments related to income tax, advance tax, self-assessment tax. If all your taxes are being paid through TDS and you don’t have anymore to pay then you need not worry it. A lot of people have to pay self assessment and advance tax by the end of every quarter. Presently they go to banks before the deadline, stand in queue, fill up relevant form and pay up the taxes.
 More banks are expected to follow this method soon.

Punch your Credit/Debit card PIN for payment at Merchant outlets from 1 July 2013

From 1 July when  you offer your debit/credit card for shopping at mall/or payment of bill of your shopping  , don’t be surprised  the payment device will asks you to punch in your secret number. From July 1, credit card users will have the option of punching in the personal identification number (PIN) as an additional security measure while making payments at merchant outlets. This is in addition to signing the charge slip on completion of a purchase. This is part of a move by the RBI to secure card payment transactions in the face of rising cyber fraud. Banks have seen 30cr unauthorized transactions.

With cyber attacks becoming more unpredictable and electronic payment systems becoming vulnerable to new types of misuse , it is imperative that banks introduce certain minimum checks and balances to minimize the impact of such attacks ,” RBI said in a circular.

While punching in the PIN will be an option for card users as of now (they can choose not to use the feature), the banks which set up swiping machines will have to ensure that the devices are PIN-number compliant . “This is basically a second layer of security. In case of theft, the person who has stolen the card will not be able to use it if the consumer has punched in his PIN number before

Punch your Credit/Debit card PIN for payment at Merchant outlets from 1 July 2013

From 1 July when  you offer your debit/credit card for shopping at mall/or payment of bill of your shopping  , don’t be surprised  the payment device will asks you to punch in your secret number. From July 1, credit card users will have the option of punching in the personal identification number (PIN) as an additional security measure while making payments at merchant outlets. This is in addition to signing the charge slip on completion of a purchase. This is part of a move by the RBI to secure card payment transactions in the face of rising cyber fraud. Banks have seen 30cr unauthorized transactions.

With cyber attacks becoming more unpredictable and electronic payment systems becoming vulnerable to new types of misuse , it is imperative that banks introduce certain minimum checks and balances to minimize the impact of such attacks ,” RBI said in a circular.

While punching in the PIN will be an option for card users as of now (they can choose not to use the feature), the banks which set up swiping machines will have to ensure that the devices are PIN-number compliant . “This is basically a second layer of security. In case of theft, the person who has stolen the card will not be able to use it if the consumer has punched in his PIN number before

Generate your Virtual VISA enable e-Card Instantly using State Bank of INDIA(SBI)

Have you came across the situation where you were not able to do online transaction where there is only option of VISA/MASTER credit card/debit card and there is no option for Internet banking. Here I am going to tell you how to create instant VISA card that is compatible for online payment where merchant website accept VISA/ MasterCard Debit Cards as a payment option (payment in Indian Rupee).This card is exactly same as physical  Plastic card but it will be virtual in nature.The Card will be issued by marking a lien on the selected account and actual debit to the account will take place only when the Card is used.

State Bank of India (SBI) has formulated this method to generate VISA e-card using ONLINE banking.
Without talking more lets have steps to generate VISA enable e-card
Steps to Generate Virtual VISA e-card


1) Login to your online banking account (www.onlinesbi.com) and click on “e-cards” tab and select “State Bank Virtual Card” option.
2) Click on “Generate Virtual Card” tab.
3) Enter the amount and select an account which will be debited for funding (initially lien-marking and later debiting) the Virtual Card.
4) Enter the secure 8-digit password (OTP), received on your mobile.
After successful validation, Card image with Card No., expiry date, etc will be displayed on the screen and your Card is now created and available for e-commerce transaction

How to use this Virtual e-card

1) Select required goods / services on merchant website
2) Select State Bank Debit Card / Visa Card from the payment options.
3) Enter the Virtual Card details on the website.
4) Enter your secure 8-Digit password (OTP), received on your mobile.
5) After successful validation, you will receive SMS on your registered mobile confirming the transaction.
After the transaction, the Card will be de-activated and cannot be used again.

More secure :
It reduces the risk of exposing the underlying Credit/Debit limit as the Primary Card / Account details are not communicated to the Merchant.
Card is valid up to a maximum of 48 hours or till the transaction is complete, whichever is earlier.
as Card creation and online transaction is authorised only after successful validation of One Time Password (OTP) sent to your Mobile during the process.

Highly Flexible :

1. It enables Bank customers to pay from any of their Internet Banking enabled accounts, having transaction rights.
2. Card can be created for any amount, from Rs. 100 to Rs. 50,000 (Round rupees)
3. Card can be used at any online merchant site that accepts Visa Cards.
4. No, the Card is one-time/single-use card and cannot be reloaded/ topped up.

Easy to Use :
No separate setup/ installation or registration is required. Any customer having internet banking facility with transaction rights can create Virtual Card.

Zero Loss :

1. No loss of interest as the Card is generated by marking a lien on the underlying account and the amount is debited only when actual transaction using the Virtual Card is completed, successfully.
2. Card is one-time use Card and will get de-activated once used successfully.On cancellation, the lien will be released. (However, it may take few minutes in some cases).
3. You can cancel/deactivate card Yourself and the lien amount will be credited back to your account
4. You can use your Virtual Card for partial amount, provided the amount is below the Card value.After utilizing partial amount of this card the rest remaining amount will be released back to your account after card gets deactivate

For more FAQs click here

Generate your Virtual VISA enable e-Card Instantly using State Bank of INDIA(SBI)

Have you came across the situation where you were not able to do online transaction where there is only option of VISA/MASTER credit card/debit card and there is no option for Internet banking. Here I am going to tell you how to create instant VISA card that is compatible for online payment where merchant website accept VISA/ MasterCard Debit Cards as a payment option (payment in Indian Rupee).This card is exactly same as physical  Plastic card but it will be virtual in nature.The Card will be issued by marking a lien on the selected account and actual debit to the account will take place only when the Card is used.

State Bank of India (SBI) has formulated this method to generate VISA e-card using ONLINE banking.
Without talking more lets have steps to generate VISA enable e-card
Steps to Generate Virtual VISA e-card


1) Login to your online banking account (www.onlinesbi.com) and click on “e-cards” tab and select “State Bank Virtual Card” option.
2) Click on “Generate Virtual Card” tab.
3) Enter the amount and select an account which will be debited for funding (initially lien-marking and later debiting) the Virtual Card.
4) Enter the secure 8-digit password (OTP), received on your mobile.
After successful validation, Card image with Card No., expiry date, etc will be displayed on the screen and your Card is now created and available for e-commerce transaction

How to use this Virtual e-card

1) Select required goods / services on merchant website
2) Select State Bank Debit Card / Visa Card from the payment options.
3) Enter the Virtual Card details on the website.
4) Enter your secure 8-Digit password (OTP), received on your mobile.
5) After successful validation, you will receive SMS on your registered mobile confirming the transaction.
After the transaction, the Card will be de-activated and cannot be used again.

More secure :
It reduces the risk of exposing the underlying Credit/Debit limit as the Primary Card / Account details are not communicated to the Merchant.
Card is valid up to a maximum of 48 hours or till the transaction is complete, whichever is earlier.
as Card creation and online transaction is authorised only after successful validation of One Time Password (OTP) sent to your Mobile during the process.

Highly Flexible :

1. It enables Bank customers to pay from any of their Internet Banking enabled accounts, having transaction rights.
2. Card can be created for any amount, from Rs. 100 to Rs. 50,000 (Round rupees)
3. Card can be used at any online merchant site that accepts Visa Cards.
4. No, the Card is one-time/single-use card and cannot be reloaded/ topped up.

Easy to Use :
No separate setup/ installation or registration is required. Any customer having internet banking facility with transaction rights can create Virtual Card.

Zero Loss :

1. No loss of interest as the Card is generated by marking a lien on the underlying account and the amount is debited only when actual transaction using the Virtual Card is completed, successfully.
2. Card is one-time use Card and will get de-activated once used successfully.On cancellation, the lien will be released. (However, it may take few minutes in some cases).
3. You can cancel/deactivate card Yourself and the lien amount will be credited back to your account
4. You can use your Virtual Card for partial amount, provided the amount is below the Card value.After utilizing partial amount of this card the rest remaining amount will be released back to your account after card gets deactivate

For more FAQs click here