SBI launches Foreign Travel card in Orissa

The foreign travelers from Orissa need not bother about the matching of signature on the traveler's cheque or loss of currency note any more while travelling abroad.

Ensuring a hassle free travelling for them, the State Bank of India (SBI) has launched its high-end forex card Vishwa Yatra Foreign Travel Card (VYFTC) in the state.

According to VSG Chandrasekhar, chief general manager of SBI, Orissa circle, the card aims at foreign travelers and students studying abroad as its potential customers. Besides, corporates can also purchase the card for their employees going abroad.

VYFTC is issued in US dollars and is acceptable anywhere in the world except India, Nepal, and Bhutan where Indian currencies are accepted.

He said, the card can be made use of at 8,50,000 VISA ATMs in the world and millions of merchant establishments and is available in denominations from 500 dollars to 10,000 dollars for individual travelers. The card can be reloaded and topped up while in use abroad.

The card is secured by a four digit PIN at ATM and by signatures at point of sales and is insured up to Rs 50,000 in case of its loss.

Personal accident insurance of Rs 2 lakh and comprehensive travel cover in case of loss or delay in checked baggage is also available without any extra cost. The card is issued with a nominal fee of Rs 100. Every time the card is reloaded, a transaction charge of Rs 50 is levied on the customers.

Although no transaction charge is levied for goods purchased from merchant establishments, the carrier has to pay 1.75 dollar every time he withdraws cash from an ATM abroad.

VYFTC is available at seven selected branches in the state, including main and commercial branches in Bhubaneswar, Cuttack commercial branch, Rourkela commercial branch, Sambalpur commercial branch, IRE Matikhalo in Chhatrapur and Sunabeda branch. However, the cardholder need not be an account holder of SBI, Chandrase4khar said.