Standard Chartered Bank Nigeria Limited has partnered with global retail FX giant – Travelex to introduce a Visa-based prepaid travel card – Cash Passport which makes access to foreign exchange more accessible to the generality of Nigerians when going on foreign trips.
Speaking at the launch of Cash Passport card in Lagos, Mr. Christopher Knight, chief executive officer of Standard Chartered Bank Nigeria expressed Standard Chartered Bank’s commitment to bringing global reach and expertise to bear in providing the Nigerian banking public with world class products and services that make life easier for them. “That is why we are partnering with Travelex – the world’s largest global distributor of prepaid travel cards and the world’s largest retail FX business on this initiative.”
Also speaking Mr. Sajid Rahman, regional head Consumer Banking West Africa, Standard Chartered Bank, said that Cash Passport is a secure and convenient option for travelers who need foreign currency when going on foreign trips and are entitled to personal travel allowance. “All one has to do is pick up a prepaid card. The card is loaded with whatever amount the customer wants (within the stipulated amounts for PTA) and there is no need to carry cash when travelling. The funds can be accessed either by withdrawing at over 1 million Visa ATMs worldwide or at over 22 million POS outlets that accept Visa worldwide”.
Mr Rahman further stated that Cash Passport is available to both none customer and customers of Standard Chartered Bank to sign up. All that is needed he said is the necessary documentation to apply for Personal Travel Allowance (valid ticket and travel visa) and the card is issued. The card is also reloadable and funds can be loaded for subsequent trips during the validity of the card. In addition unused funds on return to Nigeria remain secure until another trip abroad as the card remains valid for up to 4 years.”
He added that Cash Passport is supported by Travelex Global Emergency Assistance service which is available 24 hours a day/seven days a week, and so even if the card is lost or stolen, customers are covered. ‘Customers can also access their card usage history balances either on the internet or by phone.”