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Bank of India General Purpose Reloadable CASH-IT Prepaid cards are payment instruments that facilitate Cash Withdrawals, purchase of goods and online services, against the value stored on such intruments. The value stored on such intruments represents the value paid for by the holders debit to customer’s bank account.
BOI CASH-IT prepaid card is an EMV based card, in association with VISA. It is an ideal product for making periodical payments like payment of salaries to employees, who are located at different places, is generally a difficult proposition for employers as a single banking arrangement cannot be made for all employees. Cards are loaded from a single point and the funds are available to the employees immediately.
It is a hassle free alternative for providing bonus/reimbursements to employees, salary disbursements, incentive payment to employees/staff. No account is required for the card beneficiary and he/she need not be a customer of the bank. However, KYC norms needs to be fulfilled. The card is reloadable which means you can disburse more cash to the same employee/staff as and when required upto Rs.50,000/- as per the requirement of the corporate. CASH-IT prepaid card can also be used as “Family Card” for paying monthly expenses. It reduces risk of carrying large amounts of cash.
BOI CASH-IT prepaid card can be availed at any of the branch.
Reloadable in nature with loading/reloading limit upto Rs.50,000/-
CASH-IT prepaid card may be used at all Bank of India ATMs and ATMs displaying the Visa logo.
Limit of POS and Ecommerce usage Rs.35,000/- and Rs.15,000/- from ATM.