A VISA Card for Free, Really?
First of all,
The only compromise you have to make is that you will have to stick with online payments / transactions with your free VISA Debit card because it will be "Virtual". That means you will get all the card details including 16-digit card number, CVV, 4-digit PIN etc. but you will not get a physical plastic card with the free version. If you forget your card details at any point of time, there is an app from the bank which will show your card details (except the 4-digit PIN) or you can also take a note of these details as a precaution and save it in a secure place. So, you will not be able to use the Virtual Debit Card at ATMs. Other than that, it basically doesn't have any difference with a physical Debit card. Anyways, if you are willing, you can get a physical debit card at any point of time but that comes with usual charges just like the other physical debit cards. For that, you can apply from the online banking portal or visit the local branch. Keep reading to know more about how and from where you can get one for yourself.
What is a "Virtual" Debit Card?
A Virtual Debit Card is a debit / prepaid card that you can use for making any online purchase or payment or transaction. The amount of transaction is debited directly from the savings account to which the virtual card is linked. Some virtual cards are valid for a limited time like the physical debit cards and some other kinds of virtual cards can be used for a single transaction only. You can top up your virtual debit card with a certain amount by loading that amount to your savings account to which that card is connected. Basically, if your savings account has balance of amount N, your virtual card will also have the same N amount of balance. Any cashback for the card is automatically credited back to the debited savings account. These cards are called "Virtual" as all the card details (Card Number, PIN, CVV, Expiry Date) are provided to the user but no physical card is issued.Where to get it?
At present, Axis Bank is offering ASAP savings account which comes with a Free Virtual Debit Card. This is a zero-balance account and doesn't have any Annual Maintenance Charge (AMC) and there are no yearly or per-transaction charges for the card too! However, there are a few limits. For example, maximum transaction limit for a day, which can also be found in case of the other usual bank accounts and debit cards. So, nothing unusual here. For basic usages for an average user, who does not go over the limit, there are almost no charges or fees. There is a very nominal charge for SMS alerts, just Rs. 5 (0.7$) per month and it can be opted out if you are not willing to receive SMS alerts. You will also get all the common banking features that you might expect from any basic savings account.
Why Axis ASAP Account?
There are numerous savings account schemes available from multiple banks and most of them offer at least one zero-balance savings account scheme. Some of these offerings are actually zero-maintenance savings account where you do not need to pay any kind of annual or quarterly or monthly maintenance charges. Some of these have paid SMS alerts, paid chequebook and some other paid features which are optional in most cases. So, a few of the zero-balance savings account schemes available are literally free-to-use. Axis ASAP is a free-to-use savings bank account and it ensures that your basic banking necessities are well met and you do not have to pay charges for all the little things if you do not 'heavily' depend on cash transactions and ATMs. Even if you use ATMs on a regular basis, a paid physical Debit cum ATM option is there. A zero-balance savings account saves the hassle of maintaining the monthly/quarterly average balance so that you can stay tension-free.
Axis bank is among the top three private-sector banks and among the top five banks overall in India. It is considered to be a very reliable bank by the masses. Axis bank has it's good will when it comes to customer service. It has it's own flaws like every other banks but with more than 3300 branches all over India, Axis bank has reached almost every corner of the country.
The ASAP account has some of the most attractive features. If you have an ASAP account, you can enjoy full fledged internet banking like you do with any premium savings account. It includes most of the features of the internet banking facility including fund transfer, fixed deposit management, downloading account statements and even features related to bill payments, insurance payments and tax payments. You will also enjoy an attractive 7.1% interest rate which is one of the highest interest rates for savings accounts in India.
The ease of opening a bank account is a very important factor. To open an ASAP account, you just need two documents - AADHAAR and PAN. That's it! You don't even need to visit any branch; you can just visit the Axis ASAP website and finish the process in just 5 minutes. Axis bank has tied up with several merchants or third parties to offer attractive discounts and cashbacks which makes the ASAP account and it's free virtual debit card even more desirable. Amazingly, the virtual debit card is an international debit card. So, you will be able to shop online from international eCommerce stores as well.
|| Link to Axis ASAP Website (click here)
