State Bank of Hyderabad, a subsidiary of India's largest lender, State Bank of India has launched the rupee pre-paid cards.
Mr. M. Bhagavantha Rao, Managing Director of the bank said that the new facility of the prepaid card will be available at all the SBH branches for the customers and non-customers of the bank according to compliance of the ‘know your customer' guidelines.
In a press release by the bank said that the stored value card is supported by a magnetic strip based technology, it also has a specified expiry date and will be usable at the bank's ATMs.
No prior Banking relationships are required to get the card, one just need to meet all the guidelines of the bank. Balance enquiry and viewing of card statement will also be possible through State bank ATMs and online.