What's the Cost of Replacing Your Debit Card at Banks? Know Here

In today's digital age, debit cards have become an essential financial tool for countless individuals. They provide convenient access to one's bank account for various transactions, but what happens when your debit card is lost, stolen, or damaged? Many banks charge fees for replacing these crucial cards, and the fees can vary depending on the type of card and the financial institution. In this article, we will explore the debit card replacement charges imposed by some of India's prominent banks, shedding light on the costs involved.

# Debit Card Replacement Charges by Leading Banks :

SBI (State Bank of India):
SBI charges a replacement fee of Rs 300, along with an 18% Goods and Services Tax (GST). This applies to all debit card replacements.

HDFC Bank :
HDFC Bank's replacement or reissuance charges for debit cards stand at Rs 200, exclusive of applicable taxes.

ICICI Bank:
ICICI Bank levies a fee of Rs 200, accompanied by an 18% GST for replacement debit cards.

Yes Bank:
Yes Bank's card replacement charges amount to INR 199, with additional taxes applied.

Canara Bank:
Canara Bank imposes a replacement fee of Rs 150, supplemented by an 18% GST for debit card replacements.
Punjab National Bank (PNB):

PNB's charges for replacing a debit card range from Rs 150 to Rs 500, depending on the type of card.

# Important Debit Card Safety Tips :

When it comes to safeguarding your debit card and personal finances, here are some critical tips to keep in mind:

Never disclose the PIN: Your Personal Identification Number (PIN) should always remain confidential.

Monitor Point of Sale transactions: Ensure that your card is swiped by the vendor in your presence during Point of Sale transactions.

Protect the CVV2: The three-digit number on the back of your debit card, known as the CVV2, should never be disclosed to anyone.

Secure e-commerce transactions: When engaging in online shopping, make sure the website's URL starts with "https" for secure transactions.

Report suspected compromises: If you suspect that your card's security has been compromised, immediately contact your bank to hot-list the card and request a replacement.

# What to Do When You Lose Your Debit Card :

In the unfortunate event of losing your debit card, it is crucial to act swiftly to protect your financial interests. You can report the loss through various channels, including phone banking, the bank's mobile app, online banking, or by visiting a bank branch. Blocking your card as soon as possible is vital, and you can request a duplicate or new card once your card is blocked.

Understanding the charges associated with debit card replacement and following best practices for card security can help you navigate the financial landscape with confidence and peace of mind.