What is the Petty Cash Card?
The Petty Cash Card is a financial solution for companies to manage minor business expenses, such as bills, small wages, and office supplies. It allows businesses to issue cards to employees, enabling digital management of funds on a single platform. The card is valid for five years and offers features like easy loading, real-time tracking, and control via a corporate dashboard.
Corporate Benefits:
- Digital Management: Streamline all employee benefits on a single digital platform, eliminating inefficiencies and simplifying petty cash management.
- Hassle-free Issuance and Loading: Issue and load Petty Cash Cards effortlessly from a dedicated corporate dashboard, making card distribution quick and easy.
- Real-time Tracking and Management: Track transactions in real-time, manage card benefits, and adjust controls as needed to ensure efficient resource use and prevent misuse.
- Digital KYC for Existing Customers: Simplified onboarding with a digital KYC process for businesses already partnered with HDFC Bank.
Employee Benefits:
- Easy Card Management: View your balance, spending history, and manage card settings online.
- Pause and Play Your Card: Instantly block and unblock your card if it’s lost or stolen, ensuring security and peace of mind.
- Save on Taxes: Certain accounts on the card offer tax savings.
- Instant Profile Updates: Quickly update your personal details without hassle, keeping your information current without lengthy forms or queues.
Fees and Charges:
| Transaction Amount | Fees |
|---|---|
| Joining Fee | ₹600 |
| Annual Fee | ₹600 |
| Card Replacement Fee | ₹135 |
| ATM Withdrawal Fee for HDFC Banks ATM | Free |
| ATM Withdrawal Fee for other Bank’s ATM | ₹21 |
| Balance Enquiry Fee | ₹10 |
Eligibility Criteria:
The Petty Cash Card is designed for employees to manage petty cash for business-related expenses efficiently. Companies with multiple locations can request this card to streamline transactions and manage expenses more effectively.