Since a few weeks, SBM has introduced a new card in its game. The SBM Smile Prepaid Card.
The similarities/differences as compared to a debit card or a credit card :
- Limit of Rs10,000 per day for the MUR card and up to Rs20,000 for the foreign card.
- Similarly as the debit card, the money is yours. So no interests charged like the credit card.
- You have a PIN code to protect unauthorized access to the money onto your card.
- The card is valid only 6months
- Any money unused after the 6months can be transferred back to your main account.
- The prepaid card is VISA branded.
- Whenever needed, recharge your prepaid card by transferring money to it (through banks)
- Card activated on the same day of application made.
What can make me get hold of a smile prepaid card?
Below are some desirable features to make the prepaid MUR card more widely accepted :
- Very important : Allow recharging through Internet Banking or ATMs to remove the hassle of going to a bank for recharging the card.
For example, it does not really make sense for a parent to lose precious time going to the bank monthly when he needs to top up his kid’s pocket money onto the card.
- Remove (or Increase) the Rs10,000 daily limit (The card holder needs to understand the risks)
- 6months validity is a too short period. Increase it.
Anyone wants to try it and let us know? Please share your suggestions/critiques about this new card.