Launches Pre-paid Travel Card in 3 universal currencies – USD, GBP & EURO.
Standard Chartered Bank has launched the SmartTravel FX Card, India’s first Gold prepaid travel card which can be used for making payments in three of the most popular international currencies, viz, the US dollar, Euro and Sterling Pound.
The SmartTravel FX Card can be preloaded with any amount subject to limits prescribed by the Reserve Bank of India (RBI) for international travel. The Card, a Mastercard Gold Card, can be used at any of the one million ATMs and 25 million merchant establishments in over 210 countries displaying the MasterCard or Maestro or Cirrus mark. All transactions made on this card, while being billed in the base currency (USD for USD card, GBP for GBP Card and EURO for EURO Card), are treated as local transactions and will not incur additional cross-currency charges levied on all international debit and credit cards.
CDK Sai Narain, General Manager, Consumer Transaction Banking, Standard Chartered Bank said, “The new SmartTravel FX card combines extraordinary convenience with safety. It is the ideal solution for all, from vacationers to business travelers. The currencies in which the card is denominated are universally accepted, which makes the card valid across most countries Indians travel to. The safety features minimize the risk from loss of the Card. This is yet another initiative from Standard Chartered Bank in making consumer transactions seamless.”
Once issued, the card is valid for a period of two years or until it is fully used, whichever is earlier. Upon expiry of card a new card can be issued to the customer with the previous balance automatically loaded onto it. The card can also be reloaded with funds for further usage subject to the limits prescribed by the RBI. The customer also has the option of redeeming any funds not spent overseas upon his return to India. Customers are also entitled to a host of benefits like free access to lounges at select international airports in India and discounts at select duty free shops, exotic resorts around the globe, hotels and fine dining restaurants. The card also entitles the customer to a ‘UNICONNECT’ international SIM card absolutely free of cost which will help reduce international roaming and calling costs for the customer substantially while simultaneously keeping the customer in touch with his dear and near ones
If the card is lost, all that the cardholder needs to do is inform the bank and the bank shall hotlist the same immediately thus protecting the available balance on the card. A replacement card will then be sent across to the customer so that he/she may resume usage of the same. An innovative new feature is that the customer is provided with full flexibility to define limits for card usage on a day to day basis, thus ensuring that even if the card is lost the limits specified will not be breached as the card will automatically restrict usage. This feature makes the card much more secure than any debit / credit cards where if lost the entire savings or credit line extended is at risk.
Standard Chartered Bank in India
Standard Chartered Bank is India’s largest international bank with 90 branches in 33 cities, a combined customer base of around 2 million retail customers and more than 2,000 corporate and institutional relationships. Key businesses comprise Consumer Banking, including deposits, loans, wealth management, private banking and SME banking; and Wholesale Banking, which includes cash transaction banking, treasury, corporate finance and custody services. For more information, visit www.standardchartered.co.in.
