MasterCard Collaborates with FNB to Offer Multi-currency Cash Passport

MasterCard’s subsidiary, Access Prepaid Worldwide, in collaboration with First National Bank (FNB) introduced the MasterCard Multi-currency Cash PassportTM to customers, providing them with a safer and more convenient alternative to foreign currency notes when travelling. The Chip and PIN protected travel payment card is secure and easy to use and can be loaded with up to four currencies (Euros, Pound Sterling, US Dollars and Australian Dollars) on a single card.

The Multi-currency Cash Passport can be loaded before departure, and while travelling, with any one or all of the four available currencies. The cardholder can then use the card globally to pay for goods and services at millions of merchant locations or withdraw cash from ATMs wherever the MasterCard Acceptance Mark is displayed.

“We chose the MasterCard Multi-currency Cash Passport as the best way to address the needs of our travelling customers who can now load four different currencies in one card,” says Vicky Ratshefola, CEO of FNB Forex.

“The MasterCard Multi-Currency Cash Passport is Chip and PIN enabled, which significantly improves our clients’ travel experience by giving them one secure, simple and effective way to pay anywhere in the world” she says.

Using the MasterCard Multi-currency Cash Passport means travellers lock-in the exchange rate for each currency so they can better plan what they have to spend. If travellers use all of their funds on the MasterCard Multi-currency Cash Passport while abroad, they can easily reload their card with more currency telephonically during South African business hours.

“The enhancement of being able to reload currencies while abroad is a key advantage for travellers. It adds an additional level of convenience and flexibility, and ensures they never run out of funds while travelling,” says Rajeev Kumar, Regional Director for Middle East and Africa, Access Prepaid Worldwide. “What’s more, because the card is valid for up to five years and can be reloaded easily, it can be used for multiple trips so that it becomes an essential travel companion.”

An important feature of the MasterCard Multi-currency Cash Passport is its ability to move between available currencies if there are insufficient funds available in the chosen payment currency. If the cardholder does not have the currency of the country they are visiting loaded on their card, they can still use it to make a payment. The Multi-currency Cash Passport will automatically convert the local currency of the purchase to one of the other currencies loaded onto the card.

For peace of mind, additional benefits include 24/7 global assistance and, if the card is lost or stolen while abroad, free emergency card replacement or emergency cash provision up to the available balance on the card. Cardholders can check their balance, transaction history and move money between currencies online through a secure website by calling the global assistance centre.

Amounts from US$100 to US$60,000 or the alternative currency equivalents can be loaded and reloaded at will, making it unnecessary to carry or convert large amounts of cash when travelling.

The card can be ordered at FNB Branches that currently offer foreign exchange services or via the FNB Forex Advisory Team on 0860 1 FOREX (36739).

You may also like

Popular News