BRAC Bank launches multi-currency debit card

BRAC Bank has launched a multi-currency debit card to enable the customers to do international transactions and purchase from international e-commerce sites, said a statement.

The customers can now use this VISA debit card at hotels, restaurants, shops while travelling abroad, avail medical services in foreign hospitals, purchase foreign software, boost advertisements on social media, and many more.

Previously, the customers needed credit cards to do such international transactions. They will also enjoy reward points for every eligible transaction.

Since this is a debit card, the customers can now shake off their worries about interest charges or late fees, which are not applicable here. Moreover, they can enjoy discounts at more than 300 partner merchants.

The cardholders can withdraw cash from any VISA ATM 24/7 from any part of the world. The customer can also use this card in Bangladesh for withdrawal from any ATM, shopping, dining, POS and e-commerce transaction, just like any other regular debit card. Not only this, customers will earn reward points for local and international transactions through this card. They can use their reward points to redeem previous purchases.

They can use the card at POS overseas and conduct transactions in the local currencies of their visiting countries. To enjoy the facility, an individual customer needs to open/maintain a savings/current account with BRAC Bank and endorse their passports from the nearest BRAC Bank branch by availing of Travel Quota or Medical Quota.

The existing debit cardholders need to replace their current card to avail these facilities. A cardholder can spend a maximum of $12,000 in a year against their annual travel quota entitlements.

The customers can avail of Internet Banking through Astha app and keep track of their transaction.

Commenting on the multi-currency debit card, Md. Mahiul Islam, Head of Retail Banking, BRAC Bank, said: "Our multi-currency debit card proposition is a comprehensive solution that is designed to meet all the banking needs of our customers who travel overseas. They can afford not to carry cash while travelling as the card is accepted at ATM, POS and online shopping. It has a multi-currency transaction facility, discounts, reward points and of course all the perks and privileges offered by VISA."

"We think this is the right time to introduce this card as the country is progressing and lifestyle and living standard of people are improving. We thank Bangladesh Bank for its necessary regulatory support to introduce this card. As a customer-centric bank, BRAC Bank will continue to explore new services to cater to the evolving needs of the customers," he added.