Bidvest Bank and MasterCard recently announced the launch of the Multi-Currency World Currency Card – MasterCard’s first prepaid travel card that allows cardholders to load up to 17 currencies on the same card at any time.
The card can be loaded both before departure and while travelling, with any one or all available currencies including: the US, Australian, New Zealand or Canadian Dollar; British Pound; Euro; Thai Baht; Argentine Peso; Brazilian Real; Indian or Mauritian Rupee; Chinese Yuan; Israeli Shekel; UAE Dirham; Saudi Riyal; Japanese Yen; and Swiss Franc.
The cardholder can then use the card globally to pay for goods and services at millions of merchant locations or withdraw cash from ATMs wherever the MasterCard acceptance mark is displayed.
Travellers can lock in the exchange rate on the local currency of their destination ahead of time. The card matches the relevant currency loaded onto the card with that of the country they are in.
The card is not linked to a primary bank account or credit card, is chip and PIN protected, and if it is lost or stolen a free card replacement will be sent to the cardholder abroad in less than 48 hours.
Cardholders can check balances, transaction history and transfer between currencies either via the World Currency Card mobile app or online via the ‘My Account’ online portal. Alternatively, currency can be preloaded or topped up via the Bidvest Bank online forex ordering portal, or at one of the bank’s branches.
The card can be set up as a corporate card, where an employer can load funds for travelling employees and keep track of where, when and how much money is being spent.