Gift Card FAQs

A Gift Card is a Prepaid Instrument variant. It is a non-reloadable magnetic strip based card which can be used for POS and E-Comm transactions.

Any person who is holding a fully KYC Complied account with Saraswat Co-operative Bank Ltd. can apply for Gift card.

Approach any of the nearest Saraswat Co-operative Bank Branch, you would be required to fill a Gift Card Application form and provide account debit instructions (Cheque / Authority Letter) and the Gift Card Kit will be issued to you across the counter.

Saraswat Co-operative Bank Gift Kit contains the Gift Card, PIN Mailer, Welcome Letter and MITC Document.

A Gift Card will be issued by charging Rs. 50/- (per card) + GST.

Gift card can be used at any POS terminals and for E-commerce purchases. The Card holder can use the Card for E-Comm transactions provided his / her Mobile Number has been provided to the Bank at the time of Card issuance.

The Gift card will be activated within 24 hours from the date of issuance.

Unlike some other Gift Cards, Saraswat Co-operative Bank Gift card comes with a PIN for safe and secure transactions; making its use more secure. Additionally, all E-commerce transaction will be secured with OTP Authentication.

The transaction alerts will be received by the Beneficiary Cardholder only if his /her mobile number is registered at the time of Card issuance. If, the Card applicant’s number is registered as the beneficiary number then, the transaction alerts will be received by the applicant.

The Gift Card Application Form has space for mentioning the Beneficiary details i.e. Name and Mobile Number. If the same is provided at the time of Card issuance, then the same will be registered against the respective Gift Card. The Beneficiary Cardholder shall receive the OTP for Ecom transactions on the said Mobile Number registered with the Bank. If no Mobile Number is mentioned, then the Card cannot be used for Ecom transactions.

In case if you don’t receive an OTP; it is likely that your Mobile number is not provided at the time of Card issuance. However, If the same is registered and yet the OTP is not received then, contact Banks Toll Free Number 1800-266-9545.

In case of declined transaction, contact the nearest Saraswat Co-operative Bank Ltd. branch or contact Bank’s Toll-Free number 1800-266-9545

The amount of failed transactions shall be refunded to the Card on or before 25 days from the date of the transaction.

No, cash withdrawal is not allowed from the Gift Card.

No, Gift card cannot be re-loaded.

The Gift Card can be used for making purchases online at all RuPay accepting merchant websites. However, the E-Comm transactions can be possible only if the Mobile number is registered at the time of Card issuance.

Minimum amount = Rs. 100/-
Maximum amount = Rs. 10,000/-

In case of card is stolen or lost, immediately contact on Bank’s Toll-Free Number 1800-266-9545 to hotlist the card. However, there will be no re-issuance in case of stolen or lost Card. The Card Balance will be forfeited.

In case if card is damaged, immediately contact Bank’s Toll-Free Number 1800-266-9545 to hotlist the card. The Cardholder will have to approach any of the Bank Branch to apply for a replacement / duplicate Card on submission of the damaged card.

Charges for re-issuance of duplicate card is Rs. 100/- + GST. The balance available on the original card shall be carried forward to the new card after deducting the re-issuance charges.

The Gift Card will be valid for a period of 3 years from the date of issuance of the Card or the Expiry date printed on the Card; whichever is earlier.

No, Funds cannot be transferred from one Gift Card to any other card.

No, there are no charges for the usage of the Saraswat Co-operative Bank Gift Card. Please refer Terms and Conditions for further details.

No, it is not necessary to provide customer details, however Mobile number of the beneficiary is optional and needs to be obtain only if the card is to be used for Ecom transactions.

There are no such transaction limits, the entire amount in the Gift card can be spent at a single instance.

If your Gift card is not getting accepted for POS transactions, then please contact us at 1800-266-9545 or you can also visit our nearest Branch.

After the expiry of the Gift card, the Cardholder can request for re-issuance of a new card within 3 months from the expiry of the original card. A New Card would be issued after deducting the applicable charges. In case, the Cardholder does not approach the Bank within 3 months from the expiry then, the Card Balance shall stand forfeited.

No, the Gift Card shall not be eligible for any further benefits / offers provided by the merchants i.e. there is no additional cashback or discount available.

Locate Us