[Query] - Understanding SBI Debit Card Validity/Expiry and AMC Billing Cycle
- 872
- 6
-
- Last Comment
I've SBI Debit Card with expiry as 07/26 and I've been charged AMC for the past 3 annual billing cycles as follows :
17-Feb-2024 - Rs. 147.50
17-Feb-2023 - Rs. 147.50
14-Mar-2022 - Rs. 147.50
Now that SBI has started issuing virtual debit cards, I don't need it anymore. I'm actually unable to understand that if expiry month is July (07), then why am I being charged in February or March?
I was relaxed that I'll cancel the debit card in May/June this year but was charged AMC on 17th February, 2024.
If I cancel the debit card now, will I be charged AMC in February 2025 ?
- Sort By
To answer your 1st question
"why am I being charged in February or March?"
The Annual Maintenance Charges (AMC) for SBI ATM cards will be recovered by the bank at the beginning of the second year/consecutive years
Listed below are the applicable annual maintenance charges for the SBI Debit Card:
- Classic Debit Card
The AMC (annual maintenance charges) for this debit cum ATM card is Rs.125 plus GST.
- Silver / Global Contactless Debit Card
The applicable charges for this debit card are Rs.125 plus GST.
- Yuva / Gold /Combo / My Card (Image) Debit Card
The annual maintenance charge for this debit card is Rs.175 plus GST.
- Platinum Debit Card
The applicable AMC for a Platinum Debit Card is Rs.250 plus GST.
- Pride/Premium Business Debit Card
The applicable annual maintenance charge is Rs.350 plus GST.
Your card comes with a fee of Rs.125 plus GST equivalent to 125+22.5 = Rs 147.5
To answer your second Question
"If I cancel the debit card now, will I be charged AMC in February 2025 ?"
No
Suggestion - Now that you have already paid , keep holding until before year end
You can confirm with Bank by visiting Branch
Add on Info / Fun Facts
Earlier it was 100+ tax(approx 14%) =114
But after GST implementation they have raised the charges to 125+GST =147.50.
They will charge yearly once, Also if you have joint account or two ATM for your account then it doubles
🏦
I Got A Doubt , If U Cancel Physical Debit Card And Keeping Virtual Card...
Is It Possible To Reset UPI Pin With Virtual Card ??
No idea, I guess someone has to try this out to find the answer
I had applied for physical debit card few days back. I can view card details from yesterday. I see virtual debit card is free from any annual charges so applied it as well.
Will I be still charged with AMC 2nd year i.e in 2025 for my debit card if it was issued for first time and was only activated for 1 day this year?
![Hesthetic- Edible Cold Pressed Yellow Mustard (Sarso) Oil | 500ml [user specific]](https://cdn1.desidime.com/topics/photos/1885599/medium/Screenshot2024-11-28at10.23.24PM.png?1732812961)
No, you won't be charged.