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Wednesday, May 16, 2012

Federal Bank launches three cards

Federal Bank on Wednesday launched three cards -- two debit and a travellers card -- in partnership with MasterCard to address the needs of its varied customer base.

The Kerala-based private sector bank is offering – Federal Bank Maestro Card, Premium Master Debit Card and the Cash Passport Card.

Federal Bank Maestro Card is a debit card with a daily transaction limit of Rs 1.25 lakh (up from Rs 50,000 limit per day on other cards).

Targeting high net-worth Individuals, the bank said it will offer a Premium Master Debit Card with a daily transaction limit of Rs 2 lakh.

Federal Cash Passport Card will target overseas travellers, the bank said. The card will be available in three currencies – US dollars, British pounds and the euro. The travellers card will be prepaid and sold over-the-counter (OTC). Holding an account with Federal Bank for the Cash Passport Card is not a pre-requisite. Loading fee on the card will be Rs 100 for any amount and reloading fees will be Rs 75 each time the money is added to the card.


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