India's largest commercial bank SBI offers virtual card facility to its customers. It is a type of limit debit card. The same can be done using the internet banking of State Bank of India to create a virtual card and it can be used for e-commerce transactions. In addition, this virtual card can be used at online shops that accept Visa cards. According to the SBI website, the validity of the virtual card is 48 hours or till the completion of the transaction. The same virtual card can be created only after validation through OTP on the mobile number. You can create a virtual card of any amount.
In such a situation, the question arises what are the features of SBI Virtual Cards:
1. The use of SBI Virtual Card does not reach the merchant details associated with your ATM card and account. In such a situation, your information is saved from fraudsters and scammers. 2. SBI customers can easily create virtual cards using net banking. 3. You can create a virtual card of minimum 100 rupees and maximum 50 thousand rupees. 4. You can use virtual card for shopping from any merchant who accept Visa card. 5. Only one transaction can occur at a time. 6. Amount is debited from your account only after shopping.
How to create SBI Virtual Card
1. Login to online banking of SBI. 2. Click on the e-card. 3. Click on the generated virtual card. 4. Select the account from which you want to transfer money. 5. Apart from this, you also have to enter the amount. 6. After this click on 'Generate', aggregating the terms and conditions. 7. After this, you have to decide the name of the cardholder, debit card and account number and the limit of the virtual card. 8. After this SBI will send you the OTP. 9. You enter OTP and click on confirm button. 10. After this the virtual card will be generated. Now you can use it for e-commerce related transactions.
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