Sunday, December 25, 2011

Reliance Any Time Money Card

Reliance Any Time Money Card Introduction Debit cards are incredibly handy for daily expenses and general cash withdrawal needs. They provide the flexibility to withdraw cash from ATM or to make purchase at merchant establishments. Initially the use of debit cards was confined to bank accounts.

A traditional Debit Card can be linked to

  • Saving accounts (relatively low interest rate)
  • Current account ( Zero interest rate)

Mutual fund schemes such as liquid funds, on the other hand, offer investors market-linked returns by investing into a diversified portfolio of money market / short-term debt instruments.

Reliance Any Time Money Card Reliance Mutual Fund (“RMF”) offers Reliance Any Time Money Card (“the card”), linked to mutual fund schemes offering you instant access to your investments. The card will allow you to withdraw / spend against your own mutual fund investments by providing you access in Visa-enabled ATMs and merchant outlets across the world.

Key Features of Reliance Any Time Money Card

  • The card offers you the benefit of Mutual Fund Investments along with the convenience of debit cards
  • Allows cash withdrawal and transaction in Point of Sales (PoS) terminals in Visa-powered ATM / PoS terminals
  • Allows Balance Enquiry in Visa-enabled ATMs
  • You have the choice to withdraw from any scheme linked to the card in HDFC Bank ATMs
  • In non-HDFC Bank ATMs and PoS terminals, transaction will happen only through Primary Account only
  • Card will offer instant liquidity up to a permissible limit as fixed / determined by the Bank for ATM cash withdrawals or 50% of the balance in scheme account or Rs. 50,000 (whichever is lower) as set by RMF, per day, from time-to-time
  • You can spend up to 50% of the balance in the primary scheme account or Rs. 100,000 per day (whichever is lower) at PoS terminals

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