Overview of DBS India Remit service that provides remittances to India for DBS account holders in Singapore with a How-to Guide and expected costs.
Federal Bank in India offers international debit cards for both Indian and Non-Resident Indians.
Read on to learn more about Federal Bank’s international debit cards and how they work.
|📝 Table of contents|
Federal Bank offers 2 different international debit cards:
Although they are both international debit cards, there are differences between the two cards when it comes to eligibility, benefits, and usage. Let’s take a deeper look.
Rupay Platinum International Debit Card is available for platinum accounts at Federal Bank. Typically platinum accounts require a minimum average quarterly balance of either:¹
- A minimum of ₹5 Lakh in a Federal Bank CD or SB account and ₹5 Lakh in term deposits
- A minimum of ₹10 Lakh in a CD or SB account
NRI EMV International Debit card is only available to Non-Resident Indians. And it can only be linked to an open NRE account at Federal Bank. NRE accounts have a required minimum balance of ₹5,000.
|🛂 Non-Resident Indians are citizens of India who live outside of India for more than 182 days.|
Rupay Platinum International Debit Card comes with benefits and perks for travel and shopping. You can earn reward points by shopping at stores and online.
And you get 2 free lounge passes per quarter in domestic lounges and 2 free passes per year for international lounges. Here are some additional benefits:
- Personal Insurance of ₹2,00,000
- 5% cashback on Utility Bill payments up to ₹50 per month
- Up to 1% cashback on fuel up to ₹75 per month
- 24/7 Concierge services in English and Hindi
- Discounts on local purchases made at Cafe Coffee Day, IRCTC, and movie tickets and more
NRI EMV International Debit card offers easy shopping in person and online. It can be used globally including at ATMs in 180 countries. The embedded chip enables secure transactions wherever you are.
Rupay Platinum International Debit Card has a total daily usage limit of ₹3,50,000.
That includes a daily purchase limit of ₹3,00,000, and a cash withdrawal limit of ₹50,000.²
NRI EMV International Debit card has a daily usage limit of ₹30,000.³
To make things easier, here is a quick table on how both cards compare:
|Rupay Platinum International Debit Card||NRI EMV International Debit card|
|ATM use abroad||Yes||Yes|
|Eligible||₹10 lakh banking relationship with Federal Bank||Non-Resident Indian|
To apply for an international debit card with Federal Bank, you will first need an account with Federal Bank.
Here are the steps to opening an account:
- Go to the Forms & Stationery page on the Federal Bank website
- Select the PDF for either a Resident or NRI
- Fill out the form on your computer or you can print it and complete
- Bring the form to your local Federal Bank branch
For an account opening you will need to provide the following documents as well:⁴
- Copy of your PAN
- Passport/ Aadhaar/PAN/driver's license for identity proof
- Passport/ Aadhaar/PAN/driver's license for address proof
If you have a Federal Bank account already, you can request for a debit card online:
- Head to the Federal Bank website
- Click on Fed-E-Point
- Enter in your 14 digit account number
- Enter in the OTP on your registered mobile phone
- On the dashboard click on Debit Card Application
- Select the account that you would like the debit card for
- Choose the debit card from the eligible cards list on screen
- Click continue
- Verify the address for delivery
- Click on submit request
The debit card should arrive at the address selected on the screen.⁵
Here are the fees & charges for both international debit cards available at Federal Bank:
|Rupay Platinum||NRI EMV Debit card|
|International ATM fee||₹ 100||₹ 100|
|International transaction fee||3.50%||3.50%|
There may be additional charges or fees so it is best to speak to a Federal Bank representative. Certain charges can be avoided if there are more than ₹ 50,000 worth of purchases made with the debit card.⁶
One of the main things to note is that with both debit cards there are still fees associated with spending globally, despite being international cards. There are 2 main fees, the first being a transaction fee of 3.5%. That will be added to all international transactions.
The second will be an exchange rate fee, which is tucked into the exchange rate you will get on your purchases made with the card abroad. Federal Bank makes their exchange rate slightly weaker than the real exchange rate you see on Google. And in that way, they take a cut on every conversion. It can seem small, but the exchange rate fee can add up in a big way.
Wise is easy to set up right from your phone or computer. Just have your PAN and an address proof ready and you can join Wise for free. And once you are registered, you can start sending money abroad- whether it's for a gift, tuition, or booking your next holiday.
Your Federal Bank international debit cards should arrive with the international transaction feature ready. But if it is not activated yet, you can take the following steps to enable the debit card features:
- Call 04842866700 and enable debit card services
- Log into Fednet and select Debit Card Services and then Debit Card ON/OFF from the menu
If you have any problems or issues, it is advised to head to the Federal Bank branch near you. There is a Locate Us option on the right side of the Federal Bank homepage to find the nearest bank branch. ⁷
Sources used for this article:
- Platinum eligibility
- Rupay Platinum
- NRI EMV Card
- Account opening process
- Debit card process
All sources checked as of 3 March, 2022
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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