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Our Bureau

Mumbai, Aug 22

UTI Bank in association with MasterCard launched an international debit card for small and medium enterprises and self-employed professionals. The card has a five-year validity and a daily Point of Sales usage limit of Rs 2 lakh, said a press release from the bank. It would also feature daily cash withdrawal limit of Rs 50,000 and zero lost-card liability.

According to the release, the card offers personal accident cover of Rs 5 lakh and access to MasterCard lounges at domestic and international airports in five cities in India. The card can be used by current account holders.UTI Bank currently has a portfolio of 4.7 million debit cards.

Mr S. Chatterjee, Executive Director, UTI Bank, was quoted in the release as saying, "Our customer research indicates that SME cardholders make larger purchases, maintain higher balances and are willing to pay higher fees for quality services."

More Stories on : Credit Cards & Debit Cards | SSI | Private Banks

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