In case your card is lost or stolen, immediately call the Phone Banking number (1800 103 1222), mentioned on the backside of your card, and report the loss of your card. This facility is available 24X7.

You can call the Phone Banking number # 1800 103 1222 or approach nearest branch for re-issuance of the PIN.

The Card is a Prepaid payment instrument with an Indian Rupee value. The Card is not a credit, charge or a debit card. This Card should not be used for any unlawful purposes.

The unspent amount of the value loaded on your Prepaid Card is the Available Balance.

No, you can use the prepaid card only in India.

You can register your feedback / complaints by calling us at our Toll Free Number 1800 103 1222, writing to us through the email address: customerservice@equitasbank.comor registering your grievance on https://www.equitasbank.com/register-your-feedback.

A company incorporated in India and registered under the Companies Act, 1956 / Companies Act, 2013 can issue and operate PPIs after receiving authorisation from RBI.

The list is available on the RBI website at the link https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043and https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=2491.

PPI issuer is an entity operating / participating in a payment system for issuing PPIs to individuals / organisations. The money so collected is used by the entity to make payment to the merchants who are part of the acceptance arrangement and for facilitating funds transfer / remittance services.

A holder is an individual / organisation who obtains / purchases PPI from the PPI issuer and uses the same for purchase of goods and services, including financial services, remittance facilities, etc. However, in case of a Gift PPI, the targeted beneficiary (though not being a purchaser) can also be a holder.

No interest is payable on PPI balances.

PPIs can be loaded / reloaded by debit to a bank account. The loading / reloading of PPIs shall be through payment instruments issued by entities regulated in India and shall be in Indian Rupees (INR) only.

The limit on loading of PPIs via electronic / online is within overall limit of respective type of card.

The PPIs may be issued as cards, wallets, and any such form / instrument which can be used to access the PPI and to use the amount therein. PPIs in the form of paper vouchers shall no longer be issued.

Like any PPI, prepaid meal instruments may be issued as cards, wallets, and in any such form or instrument (except in the form of paper vouchers) which can be used to access the PPI and to use the amount therein. Prepaid meal instruments can be issued as Full KYC PPIs without cash withdrawal and funds transfer facility.

PPI issuers, including their agents, shall not create new PPIs each time, for facilitating cash-based remittances to other PPIs / bank accounts. PPIs created for previous remittance by the same person shall be used.

Yes. PPIs can be issued on solo basis by a PPI issuer or on co-branded basis with another entity.

The co-branding partner shall be a company incorporated in India and registered under the Companies Act, 1956 / Companies Act, 2013. In case the co-branding partner is a bank, then the same shall be a bank licensed by RBI. In case of co-branding arrangement between a bank and a non-bank entity, the bank shall be the PPI Issuer.

Between the two partners, one will be designated as a PPI issuer who shall be responsible for addressing all customer service aspects relating to the co-branded PPI.

The meaning of KYC is as defined in paragraph 6 of the PPI-MD.

Minimum details shall necessarily include a mobile number verified with OTP and a self-declaration of name and unique identity / identification number of any ‘mandatory document’ or OVD or any such document with any name listed for this purpose in the Master Direction on KYC, as amended from time to time.

Funds transfer from a Small PPIs 'minimum detail PPI' to bank accounts or to PPIs of same / other issuers shall not be permitted.

PPI holder has the option to close the PPI at any time and transfer the outstanding balance to his / her 'own bank account' after complying with KYC requirements. The account to which the closure proceeds are to be transferred has to be 'duly verified by the PPI Issuer' before allowing such transfer. PPI holder can also transfer the funds 'back to source' (source of payment from where the PPI was loaded) at the time of closure.

PPI issuer is responsible for verifying that the bank account pertains to the PPI holder for which it may devise suitable methods of verification.

PPI issuers shall give an option to the KYC compliant PPI holders to close the PPI and transfer the balance to bank account as per the applicable limits of this type of PPI. For this purpose, customer to visit nearest Equitas Bank branch and provide request letter for credit of proceeds to customer’s bank account along with bank statement/cancelled leaf/ Passbook to evidence the bank details.

Every successive payment transaction using a PPI has to be authenticated by explicit customer consent. Similarly, the PPIs issued in the form of cards (physical or virtual) shall necessarily have an Additional Factor of Authentication (AFA) as required for debit cards, except in case of PPIs issued under PPI-MTS.

Where a PPI holder has not exercised the option of converting into any of the new categories, the PPIs issued to his / her shall mandatorily be converted into a minimum detail PPI with all the applicable features as on March 01, 2018. While the PPI holder shall be allowed to use the existing balance for purchase of goods and services, no further credit / loading shall be allowed till the minimum details are obtained.

A PPI with no financial transaction for a consecutive period of one year shall be made / treated as inactive after sending a notice to the PPI holder. It can be reactivated only after validation and applicable due diligence.

The holders of such PPIs shall be permitted to redeem the outstanding balance in the PPI, if for any reason the scheme is being wound-up or is directed by RBI to be discontinued.

Refunds in case of failed / returned / rejected / cancelled transactions shall be applied to the respective PPI immediately, to the extent that payment was made initially by debit to the PPI, even if such application of funds results in exceeding the limits prescribed for that type / category of PPI.

Refunds in case of failed / returned / rejected / cancelled transactions using any other payment instrument should not be credited to a PPI and should be credited back to the same payment instrument.

PPI issuers shall put in place a formal, publicly disclosed customer grievance redressal framework, including designating a nodal officer to handle the customer complaints / grievances, the escalation matrix and turn-around-time for complaint resolution. The framework shall include, at the minimum, the following :

Bank PPI issuers shall be guided by the Department of Banking Regulation, circular DBR.No. Leg.BC.78/09.07.005/2017-18 dated July 6, 2017 on Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions.

PPI issuers shall provide an option for the PPI holders to generate / receive account statements for at least past 6 months. The account statement shall, at the minimum, provide details such as date of transaction, debit / credit amount, net balance and description of transaction. Additionally, the PPI issuers shall provide transaction history for at least 10 transactions.

In case of PPIs issued by banks, customers have recourse to the Banking Ombudsman (BO) Scheme.