Axis unveils India Travel Card
Eyeing business from foreign nationals and people from the diaspora visiting India, private sector lender Axis Bank today launched the country's first currency prepaid card for such travellers.
Axis Bank has launched India Travel Card, India’s first and only Indian Currency prepaid travel card for foreign nationals and non-resident Indians travelling to India.
The India Travel Card will initially be available at select Axis Bank branches in Mumbai, Delhi and Chennai as well as a large network of money changers. The card will be made available at over 190 well-located Axis Bank branches in the next few months, the bank said. A customer can exchange foreign currency with the Branch/Money changer and receive a Rupee-denominated prepaid card with the same amount as converted in Indian rupees at the prevailing exchange rate. The card can be used at more than 4.7 lakh merchant outlets and over 44,000 ATMs.
The advantages for its users are like avoiding the need to carry physical currency notes, International Credit and Debit Cards, and Travellers Cheques. While helping the user to avoid issues such as loss of currency, thefts, frequent currency fluctuations, the card also allows the user access to Indian rupees anytime, anywhere without having to find a money changer or a bank branch.
The card has a limit of Rs 50,000 that can be used at any point of time and customer can reload the card at selected Axis Bank branches within 6 months from the date of first credit.
