Brac Bank launches multi-currency debit card

Brac Bank launched a multi-currency debit card to enable customers to do international transactions and purchase from international e-commerce sites.

The customers can use the Visa debit card for various purposes; in hotels, restaurants, shops while travelling abroad, avail medical services in foreign hospitals, purchase foreign software, and boost advertisements on social media, said a press release on Tuesday (15 March).

Previously, customers needed credit cards to do international transactions.

According to the media release, customers can avail reward points for every eligible transaction, and interest charges or late fees 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.

They can use the card at POS overseas and conduct transactions in the local currencies of their visiting countries. To avail 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 the Astha app and keep track of their transactions.

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 in 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 the lifestyle and living standard of people are improving. We thank Bangladesh Bank for its necessary regulatory support for introducing 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.