Bidvest Bank has collaborated with MasterCard to launch the Multi-Currency World Currency Card in South Africa.
Travellers will only need one payment card, as up to 17 currencies can be loaded onto the same card at any time.
The 17 available currencies include: the US Dollar, British Pound, Euro, Australian Dollar, Thai Baht, Canadian Dollar, Argentine Peso, Brazilian Real, Indian Rupee, Chinese Yuan, Israeli Shekel, United Arab Emirates Dirham, Mauritian Rupee, Saudi Riyal, Japanese Yen, Swiss Franc, and New Zealand Dollar.
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, and decide exactly how much they want to spend in a particular foreign currency, without having to think about conversion rates.
The card is smart and intelligently matches the relevant currency loaded onto the card with that of the country they are in. For example, if both Pounds Sterling and Euros are loaded onto the card at the same time and the cardholder is in London, the card will automatically default to the Pound wallet in order to avoid additional foreign exchange fees.
The card comes with Chip and PIN protection, providing a more secure way to pay for goods and services on their travels. If the card is lost or stolen, a free card replacement will be sent to the cardholder abroad in 24-48 hours, and emergency cash can be arranged.
Cardholders can check balances, transaction history and transfer between currencies either via the World Currency Card mobile app – available from the iOS and Android app stores – 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.