PNB launches signature-based debit card

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New Delhi, Nov: Punjab National Bank (PNB) today lunched signature-based debit card.

Two types of signature-based debit cards, Classic Card and Gold Card, will be the only cards which will be issued to the customers from now, a PNB statement said.

The signature-based Classic Debit card will be issued free of any charge both for fresh request or replacement of existing debit card.

However, Bank may charge nominal fee for issuing Gold Card, the statement added.

The cardholder will enjoy cash withdrawal on ATMs and shopping on pos and e-commerce limit of Rs 25,000 each in case of Classic card and Rs 40,000 and Rs 60,000 respectively in case of Gold card.

The cash holder also has advantage of using the new card for e-commerce, as presently majority of merchant establishments facilitate online shopping.

In case of signature-based debit card, the cardholder will have the advantage of not keying in the PIN while trransacting on POS terminal, however, the cardholderr has to enter the PIN for ATM transaction. It works on the principle of a credit card, the signature of the card user is verified by the merchant, the statement said.


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