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Coimbatore
IOB unveils multi-currency wallet facility
June 27, 2016
Indian Overseas Bank (IOB) today launched its Multicurrency Prepaid Travel Card, with Master Card Technology Private Limited. The card can offer up to 16 currencies, including the USD, Euro, Sterling Pounds, and Australian Dollars.
R. Koteewaran, Managing Director & CEO of IOB, launched the card in Chennai.
The EMV or chip-enabled card is valid for five years, all over the world, except India, Nepal and Bhutan, and can be used to pay for goods and services in retail outlets, hotels, and ecommerce websites, and also to withdraw money from all ATMs that accept MasterCard.
The card can be used for current as well as future international trips. At a time, the card can load only six currencies. The user can swap one currency for the other as per his/her requirements. There are also provisions for a companion card.
