|Private sector lender, IndusInd Bank has forayed into the prepaid foreign exchange cards segment by launching a prepaid card on Thursday. Indus Forex Card would be available for six different currencies.
Indus Forex Card would be a Visa branded card, and would enable the cardholder to withdraw cash and make purchases at merchant locations. The card would be loaded with cash at a bank branch, and can then be used to make transactions in various currency.
Customers can load the card with six currencies, viz. US Dollar, Singapore Dollar, Australian Dollar, Euro, Great Britain Pound and Saudi Riyal.
Card would be issued for Rs. 150, and a loading charge of Rs. 100 would be levied on subsequent charges, other charges like ATM withdrawal, balance enquiry, re-issue of pin would be currency specific. Customers would also get a variety of options to track their account through SMS and periodic statements.