Bandhan launches International Debit Card and NRI Banking

The Bank operates operates across 27 states through a network of 612 branches and 203 ATMs, catering to over 8 million customers and since its launch, the Bank has collected deposits to the tune of Rs. 7,000 crore.
Bandhan launches International Debit Card and NRI Banking

Bandhan Bank, one of the two newly set up banks in India, announced that it will offer VISA International Debit Cards to its valued customers. The Bank is also starting services for the NRI customers with a bouquet of products.

Bandhan Bank’s International Debit Card is being offered in partnership with Visa International. This card, with enhanced security features, will provide added protection for card-based transactions against counterfeiting and skimming. It will be accepted globally at more than 30 million Visa merchants, either online or in- store, and allow card holders to withdraw cash at 2 million ATMs worldwide.

The Bank said that the customers will be offered two variants – Visa Classic and Visa Platinum. These cards are for both domestic and international usage and have features, including insurance, commercial discounts at select merchandise outlets, among others.

Visa Classic Debit card holders will enjoy daily cash withdrawal limit of Rs. 40,000 while Visa Platinum Debit Cardholders will have Rs. 1, 00,000 daily cash withdrawal. The PoS transaction limits for these two card variants will be at Rs. 1, 00,000 and Rs. 4, 00,000, respectively.

Responding to the requirements of Non-Resident Indian (NRIs), Bandhan Bank will offer such services at selected branches. The NRIs can open NRE accounts either under Premium or Standard variants.

Speaking at the launch of the two premium products and service lines, Chandra Shekhar Ghosh, Founder, MD & CEO, Bandhan Bank, said "Bandhan Bank today enjoys the standing of a truly universal bank in terms of customer reach – from a small farmer of a remote village to the salaried executives in urban centres. Bandhan Bank is now ready to serve the vibrant and affluent Indian diaspora in sync with its core philosophy of ‘Aapka Bhala, Sabki Bhalai’.”

Bandhan Bank commenced its operations on August 23, 2015, with 501 branches, 2,022 Door step Service Centres (DSCs) and 50 ATMs across 24 Indian states.

The Kolkata-headquartered Bank has two divisions — micro banking and general banking, offering complete retail financial solutions, including a variety of savings and loan products. Currently, the savings bank account interest rate is 4.25 percent for balance up to Rs.1 lakh and 5 percent for balances above Rs.1 lakh. For term deposits, the maximum interest rate offered is 8.5 percent for one to three years, with an additional 0.5 percent for senior citizens. 

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