Frequently Asked Questions: BankIT 

Frequently Asked Questions: BankIT 

What is BankIT? 

It is the most comprehensive digital financial assistant in India that provides seamless connectivity between banks, businesses, end-users, and program partners. Founded in 2019, BankIT Services Pvt. Ltd. provides financial management services, contactless payments, and speedy transactions across 400+ banks, investments, and other financial services to customers through an ISO 27001:2013-certified technology company. As part of its commitment to simplifying and securing the lives of its customers, BankIT offers a complete package of "CAP" that consists of a consumer card, an application, and a portal. Our platform serves you in a wide variety of ways, including purchasing, investments, travel, payments through LIC and Fastags, as well as payments through Aadhar biometrics. 

What is a Gift Card? 

A Gift card is a one-time pre-loadable prepaid card with a specific amount of money to be utilized by the user.    

BankIT gift card uses which network platform? 

BankIT issues cards on the RuPay platform. 

What are the features of BankIT gift cards? 

-  It is a non-reloadable card 

-  Maximum load value is ₹10,000/- 

-  These are accepted at every merchant’s outlet/E-commerce. 

- One card can be used to purchase from different brands.  

- The card can be used only in India.   

What is the minimum card load? 

The minimum load value is ₹500/- 

Can a gift card be activated with cash? 

Yes, gift cards can be activated with cash. 

Which modes are helpful for loading a gift card? 

BankIT makes loading cards easier by providing various modes such as Net Banking, UPI, Credit card, and Debit card.  

What are the ways to check the balance in BankIT Gift cards? 

There are two ways to check the balance on Gift cards, 

1. Click on the link given after issuance of the card at, the link will direct the user to the YES PAY portal. 
For Virtual cards details follow the below steps :


a) Select Virtual Card in Gift Type  

b) Enter your registered mobile Number

c) Enter OTP and send it to your registered mobile number

d) Submit to check your Available Balance


For physical card Details follow the below steps:
a) Select Virtual Card in Gift Type  

b) Enter the last 6 digits of your physical card

c) Enter the KIT Number

d) Enter the expiry date (MM/YY)

e) Enter Card PIN

f) Submit to check your available balance.


fo enter card number> enter OTP; check the balance after logging in to the portal. 


2.     Customer can contact BankIT customer support or yes banks customer support to inquire about the balance. 


How much is the validity of a gift card? 

The gift card is valid for one year from the date of issuance, which can be renewed later.

Is there any charge on the gift card? 

Yes Bank takes charges on issuance, replacement of card, Balance inquiry, and Pin registration. For which you may contact yes bank customer Care.

Is there a surcharge on the gift card? 

Yes, the surcharge is applicable to a gift card if used at fuel pumps. 

Is there any service charge applicable to the Gift card? 

BankIT does not take any charge for performing transactions, only merchants impose service charges. 

What to do in case of losing the card? 

In case of card loss, the customers can block the card themselves or contact the call center and immediately ask the service to block the card. In addition, one must also request to transfer the balance immediately.

What is the process to apply for a refund on the card? 

The customer can request the transfer of balance from one card to another.

Also, one can request to transfer the balance from the original to a new card with a replacement fee of INR 100+ GST applicable. 

Is the BankIT card PIN enabled? 

Using a PIN for transactions is mandatory for BankIT physical Gift cards. 

 What is the process to receive a card statement in BankIT Gift card? 

Customers can call the yes bank service center for card statements. 

Is the amount of unused or expired gift cards transferable? 

With BankIT the amount of unused expired gift cards can be transferred to a newly issued gift card. 

What is the process to use BankIT gift card on a purchase from other merchants? 

BankIT Gift cards can be similar to a debit card, the user needs to enter the card number, CVV, and expiry date for any online purchase and a pin code in case of offline purchase.