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[ Print Version ]
 Visa & MasterCard Gold - An improved world of opportunities and privileges
 
Description
 

At SBM we recognise that as a Gold Card customer, you deserve a high level of service and a variety of benefits and privileges designed to give you real peace of mind and make your life easier.

 
 Features
 
  • Minimum card limit starting as from Rs 50,000
  • No need to bank with SBM
  • Chip card
  • Different repayment options
  • Interest rate on Retail Purchase and Cash advance 2% per month
 
 Benefits
 

Your advantages as a SBM Gold Credit Card customer:

  • Our cards are chip-based and provide the highest level of card payment security to our customers
  • Benefit from secure online shopping through Verified By Visa or MasterCard SecureCode. SBM eSecure adds a new level of security to SBM Credit Cardholders who shop online. Once registered to SBM eSecure (link to SBM eSecure page), you get a unique password to key in when shopping online at merchants who are already certified by Verified By Visa and/or MasterCard SecureCode
  • Free travel accident insurance and permanent disability cover for the Gold cardholder, spouse and children under the age of 23 years for which a full paid or partially paid fare ticket has been purchased by the means of the card
  • Worldwide acceptance at over 20 million POS (Point of Sale) and over one million ATMs
  • 24 hr assistance through our Cards Hotline (230) 202 1256 or our Call Centre on (230) 207 0111 from 08hr00 to 18hr00 on weekdays
  • You can choose from different repayment options, with a minimum of 5% to align to cash flow requirements. You can also enjoy from a range of 15 days up to a maximum of 45 days interest free period on retail purchases if you choose to pay 100% of your balance due.
  • Supplementary card – share the benefits of being a SBM Gold cardholder with close ones simply by giving them a supplementary credit card
  • We put at your service several easy, simple and hassle free payment methods to settle your credit card bill so you can choose which suits you best:
    • Settle your credit card account anytime and anywhere through SBM Internet Banking facility if you have a SBM account
    • Monthly repayment from your designated SBM account
    • Send a cheque together with the deposit slip included at the bottom of your statement to “Online Services, Level 4, SBM Tower, Port Louis.
    • Pay at any SBM branch counter through cash or cheque
    • Transfer funds from your designated SBM account through any SBM branch counter
  • Cardholder emergency assistance provided by Visa/ MasterCard:
    • Lost and stolen card reporting is one of the 24-hour emergency services provided by the Visa/ MasterCard Call Centre Service which also answers general enquiries and offers product and service information
    • Emergency Card Replacement - As a SBM Gold cardholder, you can expect a replacement card within 24 hours or one business day anywhere in the world
    • 24-hour Emergency Cash Disbursement in emergencies
 
 gold_dual
 
Holding both an SBM Visa & MasterCard Gold provides you enhanced benefits as follows:-
  • Additional Credit Options
    • MasterCard and Visa are both solid credit card choices. Having a card from each company gives the customer more credit options in terms of additional credit limit.
  • Communication & Network
    • Being two different, yet similar, companies Visa & MasterCard use their own separate network and hence provide another option to the customer if ever there are communication problems over one network.
  • Lost or damaged Card
    • If ever one card is mislaid, stolen or damaged, the customer has the fallback option of using the other card.
  • Merchant Preference
    • There are some merchants, especially abroad, who prefer one brand rather than the other. Holding dual cards will enable the customer to avoid such worries.
  • Card Scheme Generic Campaigns
    • Both Visa & MasterCard run generic campaigns for their specific brands at least once a year and customer holding both cards will benefit from both campaigns.
  • Personal Travel accident Insurance Cover
    • Free personal travel accident cover of up to USD 150k for SBM Gold cardholders.
 
 Eligibility Criteria
 
  • Individuals aged 18 years and above
  • Mauritian residents / expatriates
  • Minimum income of Rs30,000 per month
  • Supplementary cards will be issued to immediate family member only
  • Must satisfy the bank’s credit /lending criteria
 
 Documents Required
 
  • Copy of identification (Passport / National Identity Card)
  • Original salary slip / letter from employer
  • Copy of latest utility bill (CWA, CEB, MT)
  • Occupation/Work permit and work contract (for expatriates only)
  • Full passport copy (for expatriates only)
  • Letter of reference from Bank (for expatriates only)
  • 2 passport size photographs (for photo card)
  • Bank statement for last 3 months (only for non SBM Customers)
  • Bank statement for last 6 months (only for self – employed)
 
 FAQs
 
  • What is a credit card?

A credit card works in the same way as cash but is a safer alternative. You can use the card in lieu of cash; the bank pays the merchant and at the mid of each month the bank sends you a statement of all your transactions made during that period and the minimum amount you have to pay.

  • Who can apply for a gold card?

 If you earn a net monthly salary of Rs 30,000 or more, you will be eligible to apply.

  • Can I apply for additional / supplementary credit cards?

Supplementary cards can be issued to close family members, that is, spouse and children. The expenditure limit will be shared between the primary and supplementary cardholder(s). However, the statement will list down the individual card expenditure.

  • How secure is a credit card?

SBM Credit Cards are chip-enabled which makes the card totally secure. Even if you lose your card all you need to do is to call us immediately on our cards hotline (230) 202 1256, available on a 24/7 basis, or (230) 207 0111 between 08hr00 to 18hr00 on weekdays and we will cancel your card.

  • Do I need to open / hold an account with SBM to have a Gold credit card?

No need to have an account with us if you are applying for a Gold or Platinum card.

  • Will the credit card cost me anything?

You have to pay an annual fee. Any other charges are up to you. If you repay within the interest free period and if you don’t withdraw cash there will be no extra fees or charges. All fees and charges are detailed in our tariff guide. Ask for your copy in any SBM Branch.

  • Will the merchant charge me an additional fee for paying with my card?

No, the cost of an item is the same whether you pay by card or cash.

  • What is meant by the billing period and when is the payment due date?

Presently, the billing period for all your transactions starts from 15th of the month until 14th of next month. The payment due date falls on the 30th/31st of the month after the last billing date. You have 15 grace days to repay your bill.  All payments must be effected by the payment due date indicated on your bill. Overdue accounts are subject to late payment fees and finance charges.

  • What happens when I choose to pay less than the total amount charged?

As a credit cardholder, you have the flexibility to pay less than the total amount due on or before your due date. You must however, pay at least 5% of your statement closing balance. By paying less than the total amount due you will need to pay finance charges (interest). The finance charge will be levied on your opening balance and on all new transactions posted to your credit card account within the statement period, accrued from date of transaction until the end of the statement period.

  • What is a finance charge and how is it calculated?

A finance charge is the interest charged to your card account when you do not pay the total amount due. As such you will be charged interest (finance charge) if you only pay the minimum amount due or any amount between the total amount due and the minimum amount due, on or before the Payment Due Date. A finance charge is also levied on cash advance transactions from the date the cash advance is effected until it is fully paid irrespective of having chosen 100% repayment option.

  • What if I am not able to pay the minimum amount due by payment due date?

If you are unable to pay the minimum amount due by the payment due date, the current tariffs and charges will be applied, please refer to our tariff guide https://www.sbmgroup.mu/downloads/fees/BOM_Template.pdf

  • Can I use my credit card for online purchases?

Yes you can. However, you first need to register your credit card for SBM eSecure at any SBM branch or contact your Personal / Private Banker.

  • What if I pay in full the total amount due?

If you pay in full the total amount due on or before the payment due date, then no finance charges will be applied on your credit card account. This, however, does not apply if you performed cash advance, where interest accrues as from day one of the transaction. Quasi cash transactions are considered as cash advance and will attract interest and cash advance fees. All forms of Betting are quasi cash transactions

  • What to do if I lose my card?

You should immediately report the loss or theft of your credit card by calling our cards hotline on (230) 202 1256, available on a 24/7 basis, or call centre on (230) 207 0111 between 08hr00 to 18hr00 on weekdays.

FAQ – Gold Card Insurance Cover

The set of 'Questions & Answers' below do not cover all the aspects of the Insurance Policy. Hence you need to carefully read the Policy document for a more detailed picture of the Agreement.

  • Who provides the Insurance Cover?

State Insurance Company of Mauritius Ltd (SICOM) is the underwriter.

  • Is there any geographical restriction on the policy coverage?

No. The services & benefits are provided on a worldwide basis.

  • When is a customer eligible for cover under the policy?

When a Gold card is issued to a customer, he/she is automatically enrolled. Customer does not have to pay any premium to be eligible.

  • When is a cardholder covered during a trip?

Whilst traveling in a public transport by air or on land or on water and the fare or hire costs for traveling in or on the public conveyance have been charged in whole or in part to the Gold card and the insured person need to present the appropriate receipt or voucher that confirm payment was made with Gold card.

  • What age limit does the policy cover up to?

The policy covers the cardholder as long as he/she holds a valid SBM Gold card . 

  • Who are covered under the policy?

The cardholder and his/her immediate family who are traveling together on a trip which has been charged to his/her Gold card. The family comprises of the Cardholder, Spouse and Dependent children. Spouse means the legal spouse.

  • What’s the meaning of dependent children and how are they covered?
    • Dependent children include unmarried children, step children or legally adopted children
    • Dependent children should be under 23 years of age
    • The death benefit for a dependent child is limited to USD2500
       
  • Is the Insurance cover valid only when cardholder is abroad?

No. It’s valid anywhere in the world including Mauritius.

  • A cardholder rent a car from a licensed Car rental company in Mauritius and charge the bill to his Gold card. He suffers an accident while driving in Mauritius. Is he covered?

Yes.

  • A cardholder is in the U.K. He has paid for his trip abroad with his Gold card. While walking on the road, a car hits at him. Is he covered?

No. Cardholder will only be covered whilst he is traveling in a mode of transport (public) for which he has paid with his Gold card.

  • A cardholder is abroad and falls sick. He stays in a hospital. Will he be covered under this policy?

No. The policy covers only for bodily injuries sustained in an accident.

  • What are the different means of travel/common carrier under the policy?

Any public transport by Road, Rail, Sea or Air

  • If an accident occurs to a cardholder/family whilst staying in an airport ,seaport, railway station or road station for the purpose of boarding a public transport, is the cardholder /family covered?

Yes provided the trip has been wholly/partly charged to the Gold card.

  • I have paid for my spouse travel trip with my Gold card but I am not traveling with him/her. Is him/her eligible for cover?

No. The Cardholder need to travel with the spouse so as to be eligible for the insurance cover.

  • I have availed my spouse with a supplementary Gold card. She pays her journey with her card. Is she covered?

Yes.

  • I have paid for the trip of a friend with my Gold card and we are both traveling together. Is my friend covered under the policy?

No. Only cardholder, spouse and dependent children are covered.

  • Will  a supplementary card holder have the same privilege as a principal cardholder when he/she pays with the supplementary card for a trip.

Yes

  • What is the written notice period to be given to underwriters in case of an accident or any other events which may give rise to a claim?

The notice should be given as soon as possible or as soon as reasonably practical and furnish to the insurers without expense to them all such information and evidence required.

  • When will cardholder eligibility for the Benefits and Services under the insurance policy stop?
    • When he/she no longer holds the Gold credit card. The card has been cancelled and card account has been closed.
    • When the bank terminates the Agreement with the Insurance company.
  • What happen in the event the cost of travel has been partially charged to the credit card?

If the insured cardholder provides documentary evidence that at the time of the purchase of the tickets, the balance available on the credit card account was insufficient, then the cardholder will get the full claim upon an accident.
Otherwise the claim payable will be based on a pro rata basis (% of amount charged to card/total ticket costs)

  • Before making a claim what does a cardholder need to do?

He/She must read the Policy and the relevant sections, terms, conditions and exclusions to ensure that he/she is covered. Documentary evidence such as receipts, tickets, credit card slips or other evidence to support a claim needs to be submitted.

  • How is a cardholder required to make a claim?

Cardholder or his representative should contact SICOM at their head office in Port Louis along with all supporting documents. Claimants need to keep a copy of their documents for their own reference.

  • Does the customer need to be aware of the Insurance Policy cover before undertaking to travel?
    Absolutely. The customer should be informed:
    • that he/she needs to pay  the journey  with the Gold card
    • he/she and immediate family traveling together will be covered
    • he/she has not got to pay for any insurance premium…it’s free.
    • he/she needs to go through the policy to know more about the coverage details.

A copy of the insurance brochure should be handed to customer. He/She can also have the full insurance details on the bank’s web site: www.sbmgroup.mu

Compensations payable

 
 Precautions
 
  • Sign your card as soon as you receive it.
  • Keep a note of your card number and file it in a safe place separate from the card.
  • Keep your card in a secure place, and treat it as if it were cash.
  • Do not forget to take your card from an ATM or POS merchant after completing your transactions.
  • Watch and make sure only one sales slip is printed for each transaction at merchant’s point of sale.
  • Keep the customer copy of your sales slips and check them against your monthly/quarterly statements.
  • Destroy the PIN advice after memorizing it. For extra security, change your PIN regularly at any of our ATMs.
  • Do not let anyone else use your card and PIN.
  • Never keep any written record of your PIN close to your card.
  • Do not choose obvious numbers for your PIN such as your ID Card Number or date of birth.
  • When writing down or recording your PIN, do it in a safe place.
  • Make sure your PIN is protected from view when you use the ATM or any other electronic payment terminal. If you think someone has seen it, change it.
 
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HOTLINE : 207 0111 / 202 1500 [FROM 08:00 TO 18:00 MONDAY TO FRIDAY]

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