SBI Virtual Card: Benefits, Uses, Charges & How It Works

Key takeaways: 

• The SBI virtual card is used to make online payment on e-commerce platforms. It means all the merchant places accepting visas or mastercards. 

• The SBI virtual card is valid for 48 hours or till the transaction is completed. 

• In case you do not use the amount  present in your virtual card, it is credited back to your bank account. 

Bonus tip: Do you know? SBI virtual card is a one time usage card. Once it is used successfully, it can not be used again. 

The State Bank of India (SBI) offers a virtual card which is like a debit card but for single time usage. It is valid for 48 hours or till the transaction is completed. 

Think of your SBI virtual card like a second key of your home. If you have to give access to someone else to your house, you can give this temporary key that works for a limited time period. Your real debit card details will not be exposed to the merchant while making the online payment. 

For example, I want to buy shoes of ₹2500 and for this I created the SBI virtual card. The balance amount in my virtual card is ₹2500. Once I made the purchase, I cannot use this card again. Also, in future if the shoe websites gets hacked, your real debit card details will not be exposed. 

What is SBI virtual card

The State Bank of India (SBI) launched the SBI virtual card so that you can easily and conveniently make online payments on the e-commerce platforms. It works at all the merchant places accepting visas or mastercards. 

There are no chances of any fraudulent activity as no details of your primary bank account are exposed to the merchant place. The SBI virtual card is valid only for 48 hours or till your transaction is completed. Once you enter the OTP received on your registered phone number, your SBI virtual card as well as online transaction is made. There is no issuance fee for the SBI virtual card. 

Benefits of using the SBI virtual card

There are many benefits of using the SBI virtual card. Some of them are mentioned in the below table: 

These are some of the benefits of using the SBI virtual card. 

SBI virtual card charges

The State Bank of India does not charge any fees for issuance and annual maintenance. The contactless limit of tokenised payments is maximum ₹5000 per transaction and daily purchase limit for e-commerce is ₹50,000. 

How to generate SBI virtual card

Below are the steps to generate your SBI virtual card: 

1. Login to your internet banking by using your ID and password. 
2. Go to the “E cards” option and click on “SBI Virtual Card”.
3. Enter your preferred amount and select the account. 
4. Enter the OTP that you have received on your registered phone number. 
5. Complete the verification process.

Once verified, the card details will be displayed on your screen. You can use your SBI virtual card to make payments. 

Cashback SBI card

You get 5% cashback on online spend without any merchant restriction. On offline spend, 1% cashback is given to you. 

Conclusion: 

Overall, the SBI virtual card is a smart choice for users who spend online. There is no chance of any fraudulent activity as no details of your bank account are exposed to the merchant platforms. You also get cashback rewards by using the SBI virtual card. To make easy payments online, you can use the SBI virtual card. 

FAQs: 

Who is eligible to create a virtual card? 

All State Bank of India users who have their accounts in the bank are eligible to create a virtual card. 

 What is the SBI virtual card? 

The State Bank of India (SBI) launched the SBI virtual card so that you can easily and conveniently make online payments on the e-commerce platforms.

What is a SBI virtual credit card and where can I get it? 

The SBI Virtual Credit Card is also launched by the State Bank of India to make payments more easily and faster. It is generated from the primary credit card for temporary use. You can easily generate it by using your internet banking. 

Is there any Bank in India which allows the creation of virtual credit cards? 

You can create your virtual credit card of State Bank of India. 

How to create an SBI virtual credit card instantly? 

You can use your internet banking to instantly create the SBI virtual credit card.