NAIROBI, Kenya, Dec 4 – Ever planned for a trip overseas and the thought of losing all your money while on tour slowly creeped through your mind?
This has been the common fear amongst most travelers who end up having to cut their trips short or start making frantic calls to colleagues back home to send them more money.
This has seen a rise in the number of banks collaborating with VISA to enable their customers to access their money from anywhere in the world.
I&M Bank have taken this venture a notch higher with the introduction of the VISA International Prepaid Travel Card, designed to give customers a secure and hassle-free travel experience either official or leisure.
The travel card from I&m Bank is distinct from either credit or debit cards as it does not require one to have an account with the bank. One just has to walk into any I&M bank branch in the country fill out the necessary paperwork and start enjoying the benefits that come with the card.
There are currently two variations of the card; the standard travel card that takes money in US dollar denominations and the Safari Card, in Kenya shillings.
Travel Card is ideal for international business travelers, especially for companies with employees who travel a lot. Employers can top up the card with allowances instead of having their personnel carrying liquid cash.
The card has also proved to be a hit for parents with students studying abroad. Parents feel Travel card is an efficient alternative to remit money to their children, as they can keep reloading the card with money from Kenya.
The basic denomination of the card is in US Dollars, but one can withdraw cash in any currency, anywhere in the world.
Due to fluctuating market rates, a customer can negotiate with the bank to get a mutual rate to safeguard the customer from exchange rate volatility.
The maxim limit on the card is pegged at $10,000 (Sh751,000) in line with international anti-money laundering practice.
This card is accepted at all Visa Merchant outlets and 24 hour VISA ATMs worldwide.
So, no more carrying cash or travellers\’ cheques, paying commissions and tracking expenses.
Your card is protected against misuse at ATMs with a PIN. In case your card gets lost or stolen, all you have to do is call I&M Bank Call center help line number +254 20 3221000 and report the loss of your card.
Your I&M International Travel Card is valid up to the last day of the month indicated on your card.
Within this period, you can use your card as often as you like. In case your money is exhausted, this card offers the facility to reload even in the middle of your journey.