The Multi-Currency Foreign Travel Card from State Bank of India (SBI) is a prepaid card that may be filled with money in several currencies. The card may be used at ATMs (automated teller machines) and merchant terminals overseas, according to the country's largest lender.
"Customers may withdraw cash from over 2 million ATMs and pay for products and services from 34.5 million merchants throughout the world with this card," SBI said in a statement.
SBI's Foreign Travel Card has the following features:
* Prepaid travel card with chip and PIN (personal identifying number);
* US Dollar, British Pound, Euro, Singapore Dollar, Australian Dollar, Canadian Dollar, and UAE Dirham are among the seven currencies that can be utilised.
* An extra card is accessible as a backup;
* Global help available 24 hours a day, 7 days a week, with free card replacement if lost or stolen;
* No information about your bank account is necessary;
* With a valid passport and Form A2, the card can be reloaded until the expiration date on the card. Form A2 is a statement under the Foreign Exchange Management Act (FEMA) for the acquisition of foreign currency for remittance purposes.
Application Instructions:
* You may get this card by going to your local SBI branch or going to the bank's official website.
Services that can be obtained include:
* Card administration through the internet, including safe access to balances and transaction data;
* Locator services for ATMs;
* While reloading the card, users can lock in their currency exchange rates.
* If a currency's balance is inadequate to pay for a transaction, the amount is automatically withdrawn from the card's other currencies.
* Exchange rate volatility and variations are avoided for customers.
* Charges that are clear;
* Emergency cash replacement up to the card's available balance in the event of a lost or stolen card.
Limit:
* A minimum of $200 is required;
* $10,000 is the maximum amount that may be withdrawn from ATMs or spent at merchant points.
* A client can only have one active account at any given time.
* According to their laws and regulations, certain ATM operators and merchants may levy a withdrawal fee or establish their own limitations.
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