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VISA International Debit Card

 

VISA International Card- Fixing Card Level limit for international transactions - WEF 01-Dec-2013

 

Introduction

 

Reserve bank of India is taking various security initiatives to reduce fraudulent transactions using debit/credit cards especially transactions happening outside India. Some of the key initiatives by RBI are Second factor authentication for ECOM transactions, EMV chip cards, PIN authentication for POS transactions and Setting card level limit for international transactions based on customer request.

 

As per RBI guidelines, we have implemented PIN at POS and a new feature in our ATM Switch to set card level limit for international transactions.

 

What is PIN at POS?

 

While using the debit card for making payments towards purchases at merchant outlets the card holder will be required to enter the ATM PIN, whenever the debit card is swiped, to authenticate the usage. This is an additional security feature to safe guard the card holder from misuse of the card.

 

What is international card level limit?

 

International card level limit is a sub-limit for domestic daily limit which allows card holder to do international transactions up to limit set against each channel like ATM, POS and ECOM outside India (and for Non-INR e-com transactions done from India). All limit validations are done in INR (Indian Rupees) only irrespective of Country and Currency.

 

How the international card level limit is fixed and how it works?

  • WEF 01-Dec-2013 the international transactions will not be allowed for all debit cards, which were not used at all for international transactions during the FY 2012-13 and current FY 2013-14 -1st half .The international card level limit will be ZERO for all those cards.
  • For card holders who had used the card for international transactions during the period specified above, an omnibus limit of $250 has been fixed (comprising of $150 for ATM drawings, $50 for POS transactions and $50 for Ecom transactions), which will be valid till 28-Feb-2014.
  • All the VISA debit card holders who wishes to use the card for international transactions (either at ATMs/POS abroad or for making on-line purchases by effecting payment through foreign currency) will be required to submit a request form (International card level limit request form) as per annexure.
  • Based on his overseas travel plan/ usage in e-com, the card holder can mention the international card level limit start date and limit end date, with amount of limit (Such limit requested should be within the overall domestic limit applicable for the card) requested against each type of transaction. The requested international card level limit end date should be within the card expiry date.
  • Upon expiry of the international card limit end date, the card can be used as a domestic card and cannot be used for international transactions.
  • This is an added security feature to safe guard the interest of the card holder.
  • Card holder will be provided with international card limit based on their request within five working days from the date of receipt of duly filled application form.

Process flow

  • Card holder will request branch to set his/her international card level limit through specially designed application form. Click here to download the application form
  • Branch will verify/validate and authenticate the application form and forward to ATM Cell for setting international card level limit.
  • ATM Cell will acknowledge the application form and update card level limit in the ATM Switch using software application suitably.
  • Card holder can do international transactions as per his/her requirement.

Other Terms and Conditions

 
Zero Limit: Zero limit means, no international transactions allowed for specific channel. By default all the card will have ZERO limit.
Maximum Limit: Maximum domestic daily limit applicable for particular channel for your card.
Custom Limit: Customer defined daily limit for international transaction for particular channel.
  • All active VISA debit cards are eligible for setting international card level limit.
  • All limits are daily limits and will be validated in INR (Indian Rupee) only irrespective of country code and transaction currency code.
  • International limit is the sub-limit for domestic limit. Will not be treated as additional limit.
  • There are three options available for card holders to set limit for each type of international transaction viz., ATM/POS/Ecom:

  • Limit should be given in multiples of thousand else lower rounding of thousand will be fixed as limit. If Custom Limit is greater than the domestic limit, then domestic limit will be fixed as international limit.
  • Limit will be effect from 00:00 Hrs IST of “Limit start date” to 24:00 Hrs IST of “Limit end date”. “Limit start date” and “Limit end date” should be future dates.
  • Application should be submitted at least three working days prior to ‘Limit start date”.(ie., limit start date would be fixed within five days after the date of receipt of application).
  • Card holder has to mention limit for each channels (ATM, POS and ECOM) exclusively. If none of the option selected for any one of channel, international limit will be fixed as Zero limit.
  • If card holder submitting multiple application, all applications previously submitted will be void and limit will be set based on latest application.
  • All limits will be expired automatically after “Limit end date” mentioned in the application form.
  • Any number of times the card holder can make the request for setting the international card limit, depending upon his travel abroad or his requirement to use the card for e-com payments in foreign currency.
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