Federal Bank on Wednesday launched three cards — two debit and a travellers card — in partnership with MasterCard to address the needs of its varied customer base.
The Kerala-based private sector bank is offering Federal Bank Maestro Card, Premium Master Debit Card and the Cash Passport Card. Federal Bank Maestro Card is a debit card with a daily transaction limit of Rs 1.25 lakh. Targeting high net-worth individuals, the bank will offer the Premium Master Debit Card with a daily transaction limit of Rs 2 lakh.
Federal Cash Passport Card will target overseas travellers, the bank said. The card will be available in three currencies — US dollars, British pounds and the euro. The travellers card will be prepaid and sold over-the-counter (OTC). Holding an account with Federal Bank is not a pre-requisite for the Cash Passport Card. The loading fee on the card is Rs 100 for any amount and the reloading fee is Rs 75, each time money is added to the card.
satyanarayan.iyer@thehindu.co.in