Earlier we have covered a tutorial on Virtual Credit Cards in India. Other Indian banks like HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank have already rolled out Virtual Credit Card services in India. State Bank of India (SBI) has now joined the list of banks offering virtual credit card (VCC) or virtual debit card facility in India.
Virtual Credit or debit cards allow you to keep your actual Credit card details and bank details confidential specially while shopping online.
How to Create or Generate Online State Bank of India (SBI) Virtual Credit Card
1. Login in your SBI internet banking (personal banking) account on OnlineSBI website.
2. Once you are logged in go to " Requests" tab.
3. In the left panel go to State Bank Virtual Card option.
4. Fill in the requisite amount. Note that Minimum amount is Rs. Hundred- and Maximum amount limit is fifty thousands . This means you can not have a virtual credit card with a virtual credit limit of more than Rs. 50000/-.
Once esure the amount or credit limit, Tick the check box to accept agreement and click on "Generate" button.
5. It asked to confirm the details.
6. Sbi will send One Time Password (OTP) will be sent to your SBI Internet banking registered mobile number. Enter that password that you received to your mobile in the next screen.
7. Now your SBI VCC will be created and ready for use. Now you can use it in online shopping.
8. You can see status of your SBI Virtual Credit Card anytime by going to the "Virtual Card Details" tab. It will show you card status as Used, Unsued or Cancelled.
You may use SBI Virtual Credit card for all online transactions and purchases where VISA Credit/Debit cards are accepted.
You can use it for internet shopping, online bill payments and online railways and movie ticket bookings.
This SBI Virtual Credit / Debit card is valid for 24-48 hours or till the transaction is complete.
Payment is debited from your bank account only if you actually purchase something online using your Virtual Credit / Debit card not when you create the virtual credit card. Therefore there isn't any Loss in Bank Interest by generating and using SBI Virtual Credit card.
