IC, I hope someone will post info about how to get an HSBC (India) Debit Card and its rates.
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IC, I hope someone will post info about how to get an HSBC (India) Debit Card and its rates.
Don't you think it would be easier to go their site and get it there ? Rather than getting it from here.Quote:
Originally Posted by Arun
It's http://www.hsbc.co.in/in/home2.htm
Yeah, you're on dot! :biggrin:Quote:
Originally Posted by cngn
I got it as my corporate salary account, but, for normal debit cards they require you to maintain a balance of 15k bucks quarterly which is too much to ask for from students like me ;)
I represent a company that their primary product is a VISA backed debit card. The card is totally anonymous. You dont need a bank account. You can fund the card using e-gold, int gold, stormpay, can-pay, E-Bullion, cash, credit card, western union, bank wire and more payment systems are coming on board everyday. No credit checks, 100% approval, You can use it where ever you see the VISA logo.
Much more convenient than a bank debit card, plus you can receive the VISA merchants discounts and discounts from merchants listed in our world trade directory
Michelle
Yeah, Michelle but don't try selling it here cos it is ILLEGAL in India.
I guess ur company has central bank approval or whatever in Canada/North America whatever but there are restrictions in India on forex holdings. They are lax now, but they exist so people using ur product from here can be thrown in jail under FEMA (Foreign exchange management act)
Thank you for pointing out that Act to me. It is overly strict. I have read through it and it is quite clear in the fact that you cannot exchange funds. If the VISA debit card gave you your funds in rupees but the exchange would only be at the point of sale, would that also infringe upon the act?
I upload funds onto my card in canadian dollars, I withdraw in canadian dollars, but, when I make a purchase, or send money to another account be it e-gold, int gold or any other payment processor, it is in USD.
This is quite interesting, and I hope that they do change their laws in the future, but I guess all things happen for a reason.
Michelle
It is possible to exchange funds Michelle, but there are limits for various purposes.
All money changing must be done from an authorised institution (and yours would not be in India, maybe I don't know exact relation of your company with VISA and all).
You can go over limits but then you need explicit permission from RBI.
Anyway, mostly the limits are quite generous.
You said the law you read was very strict?
Frm what u are describing I wonder whether u read up the Foreign exchange Regulation Act (FERA) which was the predecessor act and was very strict. Even suspicion of violating that act meant immediate jail with no bail.
Quote:
Originally Posted by KingKrool
now upto $25,000 no questions asked.
HDFC introduces international Debit Cards-what many of us were looking for!!
http://in.rediff.com/money/2004/dec/10hdfc.htm
Quote:
Originally Posted by Pagladashu
I wonder if ICICI comes out with a similar service soon :)Quote:
HDFC Bank on Thursday launched an international gold debit card offering cash back of Re 1 for every Rs 100 spent on the card.
This offering from HDFC Bank comes as the debit card base in India is increasing at a frenzied pace.
The gold debit card offering also provides accidental death insurance cover of Rs 5 lakh, fire and burglary cover of Rs 50,000 for items purchased through the card and loss of baggage insurance of Rs 20,000.
The card also offers special discounts and packages on facilities such as hotel stay, eating out and car rental.
HDFC Bank account holders will have to pay an annual fee of Rs 500 to avail of this new card. The debit card base in India now is almost double that of credit cards.
The total debit cards had increased 146 per cent to 20.63 million in March 2004 from 8.38 million in March 2003. HDFC's share in the debit cards base was 10 per cent in March 2004.
Neeraj Swaroop, head-retail banking at HDFC Bank, said the new international gold debit card is part of the bank's efforts to create new benchmarks. The international gold card has been launched in association with Visa.
Uttam Nayak, deputy country manager of Visa International, said the card has matured from a vanilla product to being customised to suit the needs of the card holders.
The HDFC Bank gold international debit card has been created to handle travel needs of cardholders.
The single-largest player in the public sector responsible for the increase in debit cards is State Bank of India, which started issuing debit cards at the start of 2003 and now has a base of over 5.5 million.
ICICI Bank is the largest issuer of debit cards at over 6 million.
The debit card base is expected to continue to rise sharply as all ATM cards get converted into debit cards and all banks start giving debit cards to their savings account holders.
Is it mentioned anywhere that it allows online international transactions ?
http://www.hdfcbank.com/Ri/ri-eage-int-debit-intro.htmQuote:
Originally Posted by Arun
Debit Card
Presenting the HDFC Bank International Debit Card that lets you shop and do much more than you could do with your ATM Card. It replaces cash, so when you go shopping, you no longer need to carry cash with you. This card can be used in India and abroad at merchant locations such as shops and restaurants and to withdraw cash from a widespread network of ATMs. The value of the payment made or cash withdrawn is instantly debited from your account. What's more, while all your purchases and cash withdrawals are in the currency of the country you are in, your account is debited in Rupees!
HDFC Bank offers the following Debit Card programmes in India:
1. Visa Electron in association with Visa International
2. Maestro in association with MasterCard International
does it allows online international transactions
They already had International debit cards....
This is just a new one.
And as I said HDFC already offers the virtual credit card facility. So no worries on that score.
amitagarwal,
heres an excerpt from the FAQ page of savings account at HSBC
" Can I use my International credit/debit card to meet my expenses?
* While on holidays outside India to meet your expenses.
* When outside India for purchase of item of import.
* When in India, for making payment in foreign exchange for purchase of books and other items through Internet. "
source: http://www.hsbc.co.in/in/personal/accounts/savfaqs.htm
but i guess the int. debit card card costs as much as a credit card. and i heard the minimum account balance requirement by HSBC is also quite high(cudnt find this info on their site)
im just trying to work with my paypal account(it now allows us to withdraw money to indian bank accounts) which asks me to add my credit card to its account.
price is a major issue to me. i want to save as much as possible. wat do u think a good option for me? i mean which bank shud i go for to get a credit card.