Karnataka Bank, the Mangalore based private sector lender has added four new products to its kitty. The new products added include student prepaid cards, mobile banking (mobile payment solutions), online payment through debit card and money plant international debit card. The bank has also inaugurated 10 new ATMs across the country. With the introduction of 10 new ATMs the total count of the bank's ATMs in the country has risen to 214.
As per declaration by the bank, this card is a prepaid reloadable card with market price ranging from Rs. 1000 to Rs. 45,000. It is backed by visa and thus can be used anywhere in the world where visa cards are accepted.
This type of card is not provided by many banks. Another bank providing this facility is Andhra Bank. Andhra bank's card is also backed by visa.
Student card can be purchased by parents who hold an account with Karnataka Bank. The card can be used by the child to meet his requirements like tuition fees, hostel fees and other expenses incurred.
It can be used at any point of sale with a daily cash limit of Rs. 25,000 and a daily ATM withdrawal limit of Rs. 15,000.
In order to provide extensive facility and benefits to the customer, Karnataka Bank has tied up with Paymate India Pvt Ltd for its m-commerce facility. Thus, customers can make banking transactions through their mobile phones.
For availing this facility, customers have to register themselves with the bank for this facility and then can pursue secure transactions from their registered mobile numbers using their ATM PIN.
Online transaction facility has also been provided by the bank. The Money Plant International Gold Debit Card enables daily cash withdrawal limit of Rs 25,000 and a daily purchase limit of Rs 100,000.