Comments
Eyeing business from foreign nationals and people from the diaspora visiting India, private sector lender Axis Bank on Wednesday launched the country’s first currency prepaid card for such travellers.
The ‘India Travel Card’ can be funded with any major international currency and after conversion, will allow customers to use the deposited amount in Indian currency to either shop or withdraw at ATMs, the bank said in a release issued here.
Apart from being safe, the card will allow the user to access rupee anytime without being concerned about a moneychanger and the balance left in the account can be re-converted to a foreign currency at the end of travel, it said.
As of now, a majority of Indian banks offer preloaded debit cards for travellers going abroad but this is the first instance of inbound travellers being given such a facility.
It will have a limit of Rs 50,000 and customers can reload the card within six months from the date of first credit, it said, adding that to start with the card will be available at the bank’s branches in Mumbai, Delhi and Chennai.
Using the card, a customer can access 4.7 lakh merchant terminals and over 44,000 ATMs across the country to transact, it added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.