AXIS Bk launches currency prepaid card for inbound travellers

Mumbai, Feb 2 (PTI) Eyeing business from foreignnationals and people from the diaspora visiting India, privatesector lender Axis Bank today launched the country''s firstcurrency prepaid card for such travellers.

The ''India Travel Card'' can be funded with any majorinternational currency and after conversion, will allowcustomers to use the deposited amount in Indian currency toeither shop or withdraw at ATMs, the bank said in a releaseissued here.

Apart from being safe, the card will allow the user toaccess Indian rupee anytime without being concerned about amoneychanger and the balance left in the account can bere-converted to a foreign currency at the end of travel, itsaid.

As of now, a majority of Indian banks offer preloadeddebit cards for travellers going abroad but this is the firstinstance of inbound travellers being given such a facility.

It will have a limit of Rs 50,000 and customers canreload the card within six months from the date of firstcredit, it said, adding that to start with the card will beavailable at the bank''s branches in Mumbai, Delhi andChennai.

Using the card, a customer can access 4.7 lakhmerchant terminals and over 44,000 ATMs across the country totransact, it added.