State Bank of India (SBI) in tie-up with MasterCard on Monday launched its first multi-currency international debit card to allow consumers to use a single card to pay in multiple currencies.
“To begin with, the prepaid debit card will enable customers to load four currencies – US dollar, euro, Great Britain pound and Singapore dollar.
The multi-currency foreign travel card gives an option to load currencies of choice at SBI’s branch network.
At present, the card can be issued at an annual fee of Rs. 100 without any interchange fee to customers.
Customers will have to pay the traditional ATM withdrawal charges of $1.75 in the US, €1.5 in Europe, £1.25 in Britain and S$2 in Singapore.
The card is aimed at corporates and professionals, tourists and students travelling abroad and will be available at 100 SBI branches in four major cities.
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