India Post Payments Bank (IPPB) has announced that it introduced annual maintenance and re-issuance charges for its virtual debit cards effective from 15 July 2022.
According to an IPPB press release, "This is to inform all concerned that annual maintenance charges of Rs25 (incl. of GST) on Virtual Debit Card (VDC) will be applicable w.e.f 15 July 2022." However, premium accounts (SBPRM) will be exempt from these charges.
IPPB Virtual Card
IPPB virtual card is a digital debit card that can be used for e-commerce transactions (online). The card can be used to shop online in India at any merchant website/online portal that accepts RuPay cards, just like a traditional plastic card. This digital debit card can be generated by the customers on their mobile banking app.
How to generate Virtual Debit Card on IPPB app?
Step 1: Download IPPB app and login
Step 2: Click on Rupay Cards, and click on Virtual debit cards
Step 3: In next page, click on 'Request Virtual Debit Card'
Next page will display details of Rupay card
Step 4: Tick the box to accept the terms and conditions and click on 'Continue' and confirm
Step 5: Enter OTP received on your registered mobile number
Your virtual debit card will be generated and t ..