The Hindu Business Line : UTI Bank plans euro debit card

This follows a growing demand for euros from businessmen and leisure travellers who head for European destinations. UTI Bank has already launched a US dollar-denominated travel currency debit card.

Stating this during an interface with Business Line here today, Mr Sujan Sinha, Vice-President (Retail Banking) of UTI Bank, said that the introduction of euro-denominated debit card would greatly benefit visitors to those countries where euro is the common currency. A dollar-denominated debit card in these countries would necessitate another round of conversion before the money can be deployed.

Mr Sinha said that those wanting the dollar debit card or the soon-to-be-introduced euro debit card need not be customers of the bank. "Most banks which issue international debit cards insist that the facility can be availed of only by their existing customers. Our international debit cards can also be used by those who are not our customers," he said.

According to him, the bank has begun the process of forging tie-ups with travel agents and moneychangers for marketing these cards.

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