The Hindu Business Line : Bank of India launches `Star Vidya Card'

Bank of India has introduced the `Star Vidya Card' to enable college students get rid of the hassles of carrying cash for paying their tuition fees, mess bill or towards any other purchases made within the campus. The bank is now in the process of tying up with various educational institutions to complete the roll out.

For students

The card, customised for individual educational institution, is issued to students with a validity period of six years. It can, according to BOI sources, be used for drawing cash at any BOI ATM as also ATMs of banks participating under `Cash Tree' and `Bancs' shared network, albeit with a cap on drawals.

Benefits

Explaining the benefits of the card to the institution, the sources said the installation of the `electronic data capturing' (EDC) machine at various points of sale would enable the authorities to just swipe the card towards the candidates dues instead of handling cash (physically) along with attendant risk of pilferage, loss etc. Card charges

While it offers usage convenience, it is not for free. The bank charges a one-time issuance fee of Rs 25/card, programme management charges (including transaction authorisation) of Rs 15/month, EDC machine rent of Rs 550/machine and commission at 1.5 per cent as applicable (based on volume).

More Stories on : Credit Cards & Debit Cards | Education | Public Sector Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
United India officers flay outsourcing

MindTree, LANSA sign pact

LIC Kottayam divn earnings

Bonds continue to slide

South Indian Bank to sell MF products

Bank of Baroda looking for partner to enter insurance sector

SBI's ATM cards for KCC holders

Bank of India launches `Star Vidya Card'

A code for better customer services

New DGM for SBH