Banks often levy charges on debit card replacements. These charges typically come into effect from the second year of card issuance.
Here’s a list of the charges imposed by five major banks for replacing a lost or stolen ATM-cum-debit card:
- State Bank of India (SBI): For card replacement in the largest bank in India, SBI, a charge of Rs 300 is applicable. Additionally, 18 percent GST is levied separately, which makes the total cost for card replacement exceed Rs 350.
- HDFC Bank: HDFC Bank customers who wish to replace their ATM or debit card will be charged Rs 200 as a replacement fee. GST is applied separately. It’s worth noting that while the replacement fee is consistent for all cards from the bank, annual charges may vary.
- ICICI Bank: ICICI Bank charges a card replacement fee of Rs 200. On top of this, 18 percent GST is added, making the total cost around Rs 236 for a new ICICI debit card.
- Canara Bank: Canara Bank imposes a fee of Rs 150 for card replacement. In the event of card loss or theft, customers seeking a replacement card will be required to pay the Rs 150 replacement fee, in addition to 18 percent GST.
- Punjab National Bank (PNB): The fee for replacing a debit card at Punjab National Bank varies, ranging from Rs 150 to Rs 500. The specific fee charged depends on the type of card in question. Additionally, GST is applicable on top of the replacement fee.
It’s essential for customers to be aware of these charges and make informed decisions when replacing their debit cards, as the costs may vary depending on the bank and card type.
