Standard Chartered launches SME Banking World Debit Card

First debit card exclusively for SMEs offering rewards for various relationships with the Bank

Standard Chartered Bank, India’s largest international bank, has launched the SME Banking World Debit Card, a first-of-its-kind cash management tool that provides convenience, savings and relationship rewards for small and medium enterprise (SME) customers. This debit card is available to all SME customers having a transactional account with the Bank. The card is a feature of Standard Chartered’s strengthened SME Banking offering launched last year.

The Standard Chartered SME Banking World Debit Card designed to cater to the specific needs of SMEs has the following exclusive features: 

• A first to market proposition of enabling different limits for different cardholders thus mitigating the risk due to multiple cards
• A debit card for each account signatory is now possible thus enabling greater convenience and flexibility in transacting
• High daily cash withdrawal and spending limit of up to a maximum of INR 5 lakhs to support business spends; the highest in the market
• A first to market offering of “360 Degree Rewards” where the SME customer earns reward points not only for transactions on the SME debit card but also for various other product relationships with the Bank 
• International access with global payments at over 30 million establishments and cash withdrawal from more than one million ATMs worldwide

Card holders also get to enjoy complimentary privileges including Kingfisher Airlines King Club membership, Accor Hotel offers, Hertz Club membership, MasterCard Moments (exclusive offers for Spas, Golf, Wine Clubs and Tours) and a host of other local privileges pertaining to travel, stay, business solutions, communications and office support which would be of utmost benefit to the SME customers.

“The strengthened SME Banking offering aims to seamlessly meet the evolving financial needs of India’s fast growing SMEs and power their aspirations for growth in the Indian and international markets”, said Rakesh Singh, General Manager, SME Banking India, Standard Chartered Bank. “The Standard Chartered SME Banking World Debit Card is an innovative and first of its kind cash management tool for a fast-paced business environment. While it allows greater convenience to our customers it also marks our commitment in rewarding our customers for their existing relationships with us, which is a first for SMEs in India.”

Standard Chartered’s strengthened SME Banking offering is based on customer research and aims to provide comprehensive suite of solutions to cater to the evolving needs of SMEs. It offers one-stop-banking solutions to enterprises and their owners by leveraging the strengths of the Bank’s consumer and wholesale banking businesses.