What is Visa Credit Card Bill Payment facility?
Visa Credit Card Bill Payment facility is a technology enabled remittance facility that allows you to transfer funds from your existing Corporation Bank account linked to your Debit Card to any other VISA Credit Card issued by any Bank in India.
How to carry out Fund Transfer under the facility?
Walk into any of the Corp Bank ATMs in India and follow the following steps:
- Choose the "LIC/Tax Payments & others" option in the Main screen
- In the next screen choose the "VISA Credit Card Bill Payment " Option
- Enter the 16 digit Credit Card number of the beneficiary
- Enter the amount to be transferred (Min Rs. 100/- and Max Rs. 25,000)
- If you have more than one account linked to the card, select the account to be debited from the options provided
- Once you complete the transaction your account will be debited online and funds transferred to the Beneficiary's Bank within 2-3 working days using the VISA system. The beneficiary bank will then credit to the credit card.
Are there any daily transaction limits?
As a security feature, a daily limit of Rs 25,000 is set for the Corp Card 2 Card Transfer facility
What are the benefits of this facility?
- This facility is cheaper, faster and more convenient than traditional modes of funds transfers like DD/MT/TT
- No geographical limitation within India. The funds can be transferred to the beneficiary anywhere in India as long as he holds a VISA credit card.
- The transfer is based on the 16-digit credit card number and no other details of the beneficiary are required
- Payment of Credit Card bills can be carried out by entering the 16-digit Credit Card number and transferring the bill amount to the number
Are there any service charges for the facility?
The Bank levies a nominal fee of Rs. 25 (inclusive of service tax) per transaction irrespective of the amount.