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HSBC Debit Cards
Gone are those days when only cash was used for transactions. With the introduction of cards, e-wallet and virtual money, many more options of financial transactions have opened up. This has definitely made life easier as one is free from the stress of carrying hard cash around. No more waiting at ATM queues or getting robbed for money. Debit cards are one such convenient alternative for payment transactions. Cashless facility has become a way of life now. Debit cards offer many advantages other than utilizing it for transactions like discounts, offers, brand partnerships, rewards etc.
Features of HSBC Debit Cards
HSBC is one of the leading private banks in the country that offers different types of cards to suit different needs. A nominal annual fee is charged by the bank towards maintenance of the card. Some of the notable features of the HSBC debit cards are:
- With HSBC debit card, one can get access to HSBC Group ATMs and ATMs affiliated to Visa network and its merchant outlets all over the world.
- One can enjoy higher transactions limits on HSBC debit cards especially for shopping,
- The HSBC debit card doubles up as ATM card and can be used at any ATM and shopping outlets worldwide.
- It is quite safe and simple to use HSBC debit card. Apart from SMS alerts, you also receive email alerts while using the card for any transactions.
- The debit card is valid internationally and can be used at all locations while traveling abroad.
- HSBC debit card is widely accepted in India.
- HSBC offers the convenience of tracking your purchases through the monthly bank statement. This helps in regulating the usage of your debit card.
- In case, you lose the debit card, HSBC provides you protection from fraudulent transactions on the card after you have informed the bank on the loss.
- The bank offers insurance covers on the debit card.
- The Global customer assistance is available for HSBC debit cardholders 24x7 even while traveling abroad.
What are the various types of HSBC Debit Cards?
There are mainly three types of HSBC Debit card. This is directly linked to the type of account held with the bank.
- HSBC Debit Card: This type of card has access to HSBC Group ATMs and Visa affiliated network and outlets
- HSBC Advance Platinum Debit Card: This card has been made for Advance customers and comes with many benefits. The daily spend limit on this card is higher than other cards.
- HSBC Premier Platinum Debit Card: This card has been created by the bank to cater to the lifestyle and premium requirements of Premier customers. Many benefits and privileges are available on this card.
| Account Type | Point of Sale (POS) limit per day | Cash withdrawal limit per day | *Transaction limit of card used overseas (Cash withdrawal/ POS) | Status |
|---|---|---|---|---|
| HSBC Premier | ₹ 2,50,000 | ₹ 2,50,000 | USD$1500 | Revised effective 15 September 2016 |
| HSBC Advance | ₹ 2,00,000 | ₹ 2,00,000 | USD$1000 | Revised effective 15 September 2016 |
| HSBC Savings | ₹ 1,00,000 | ₹ 1,00,000 | USD$500 | Revised effective 15 September 2016 |
| Type of HSBC Debit Cards | Debit card insurance cover (in ₹) |
|---|---|
| HSBC Premier Platinum Debit Card | 5,00,000 |
| HSBC Advance Platinum Debit Card | 4,00,000 |
| HSBC Debit Card | 2,00,000 |
The insurance coverage is extended to:
- Lost cards
- Counterfeit/Skimming of card
- Online Fraud protection
All resident and non-resident individuals (minors are not included) who hold Savings or Current bank account with HSBC India can apply for a debit card.
How secure is the HSBC Debit Card?
HSBC debit cards are very secure as it contains embedded chip on every card. This chip provides latest security features and protects from fraudulent transactions especially counterfeiting and skimming. When you apply for a HSBC debit card, the card that is sent across is initially inactive for safety purpose. Only after the cardholder activates the PIN which is sent separately, can the card be used for any purchases or online transactions.
Online transactions are particularly secure with HSBC debit cards because of the 3-D Secure (3DS) technology. This is an added layer of security for online transactions through the card. This service is offered to the customers with the payment partner Visa through their Verified by Visa (VbV) service. It is not possible to transact online with HSBC debit card without the VbV service. Also, to enhance the security feature of using HSBC debit card, those cards that have been issued after 1 December 2013 have an option of choosing domestic or international usage. Those cards that opt for domestic usage cannot be used outside the country. This helps in curbing misuse of the card without the knowledge of the cardholder.
FAQs: HSBC Debit Cards
(1) Is it possible to use the HSBC debit card for both ATM and online transactions?
Yes, the HSBC debit Card can be used for both ATM and online transactions. This is accepted on websites in India that accept Visa debit cards.
(2) What is the security feature on the HSBC debit card?
HSBC has added an additional layer of security particularly for purchase transactions at retail outlets. The swipe machines are enabled to accept the debit card with the ATM PIN. If the PIN entered is incorrect, the transaction is declined. You will need to provide an alternate card or make cash payment. Usage of PIN for swiping the debit card at these types of outlets is mandatory.
(3) How can I apply for a debit card?
One can apply for a debit card by visiting the nearest HBSC branch and submitting an application form with the required documents. Alternatively, you can also submit your application online on the bank website.
(4) What is the purpose of One Time Password (OTP)?
If you are using HSBC debit card to make an online transaction, an OTP is sent to your registered mobile number to complete the payment. This is done to protect your card against fraud transactions and that the rightful holder of the card is authorizing the payment.
(5) How many online transactions can I do with the HSBC debit card?
There is no upper limit on the number of online transactions that you can do with HSBC debit card. However, the total amount of online transactions per day is limited to the same amount as daily purchase limit offered on the card.
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