Seylan unveils Sri Lanka’s first multicurrency travel card

Thursday, 3 July 2014 01:05 - - {{hitsCtrl.values.hits}}

Seylan Bank GM/CEO Kapila Ariyaratne (third from left) hands over a mock-up of the travel card to IATA-AASL President Riza Ahamat while (from left) Seylan Bank Chief Manager Credit Cards Nimesh Fernando, Seylan Bank Senior Deputy General Manager Bank Retail Banking Tissa Nanayakkara and Seylan Bank Deputy General Manager Marketing Tilan Wijeyesekera look on

– Pic by Sameera Wijesinghe

Seylan Bank yesterday launched the first-ever multicurrency travel ‘Visa’ card as part of its offering to redefine travellers’ experiences. Loaded with a bouquet of multi-currencies, the US Dollar, Sterling Pounds, Euros, Saudi Arabian Riyals and Australian Dollars, this chip-enabled Seylan Travel Card also allows users the absolute convenience of simultaneous access to all five currencies at the same time in any part of the world. The card will simply pick the destination (transacted) currency to avoid any currency conversion fees to the customer. Once purchased the card minimises the exposure to currency fluctuations. It will also be extremely useful to corporate customers who constantly travel overseas and especially visit multiple countries without any hassle of loading new cards and avoiding additional currency conversion costs. Corporates also have the ease of tracking expenditure and gaining various other benefits. This pre-paid, Visa-accredited card brings instant worldwide acceptability and offers its users the sheer convenience of free cash withdrawals at 2.2 million Visa accredited ATMs and transactions at over 30 million merchants across the world. It also has the added benefit of seamless online transactions, thus bringing a world of shopping to one’s fingertips. Seylan Bank also hopes to stay ahead of the competition by offering an excellent follow-up service with its 24-hour call line, instant transaction notifications by text message and additional benefits such as free medical insurance of $ 50,000 to card holders. Furthermore the Seylan Travel Card does not require a commission of proof of identity to obtain cash or purchase goods and services. “I believe that while there are other cards offering similar facilities, we are the only one to offer the facility of simultaneous access to five currencies,” Seylan Bank General Manager/Chief Executive Officer Kapila Ariyaratne told the media at the launch. The Seylan Travellers’ Card which was introduced to the market in 2006 provided customers with three currency options. While the Multi Currency Travel Card is a new concept in Sri Lanka, it can also be described as an upgraded version of the previously available card. Ariyaratne elaborated on this by saying: “The card which is even now in use by thousands of our customers, both personal and corporate, was yet another first and was gradually expanded to allow travellers to carry with them five currencies safely and conveniently.” The versatility of this card will be further expanded with new currencies such as the Singapore Dollar and the Indian Rupee being made available in the near future. The card, which adheres to Central Bank exchange rates, will be issued over the counter at Seylan Bank branches. Reinforced security features also allow the bank to grant its customers the added convenience of an additional card for use in the event of the primary card being lost or stolen. In describing the functionality of the card, Seylan Bank Senior Deputy General Manager Retail Banking Tissa Nanayakkara said: “We see the Seylan Travel Card fast becoming every Sri Lankan’s preferred travel companion, one that goes hand in hand with one’s passport. Seylan Bank is both proud and happy to take this initiative and make foreign travel more convenient and more secure to the thousands of travellers every day.” Seylan Bank also signed a MOU with IATA, Sri Lanka to promote among its members as their ‘preferred travellers’ card’. The bank said the partnership will no doubt enhance the awareness and the ease of access to the private as well as the corporate traveller bringing added convenience.