The third largest private sector lender of the country, Axis Bank has launched the first currency prepaid card of the country. The card targets foreign people coming to India and would specifically cater to the needs of such travellers.
The card christened as 'India Travel Card' is loadable with any foreign currency and following conversion can be used in the form of Indian currency in ATMs and merchant locations, said the bank.
The card is not only safe but it will also allow the user access to rupee currency all the time without hassle of currency exchange points and lack of available cash.
So far many banks have offered debit cards to Indian travellers going abroad but it is for the first time that a card of this genre has been designed for the inbound travellers.
The card has a limit of Rs 50,000 and can be reloaded within six months of the date of first credit. The card will be available in the Delhi, Mumbai and Chennai branches of the bank.
This card would enable the customer to access 4.7 lakh merchant terminals and more than 44000 ATMs all over the country, the bank said.