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Friday, August 17, 2012

IndusInd Bank enters into prepaid forex sector

IndusInd Bank on Thursday entered the prepaid forex segment by launching a card offering cash in six currencies.

A customer can load an amount in the card in the country before travel and use the card to withdraw cash from automated teller machines and shopping at merchant establishments, the bank said in a statement.

IndusInd has tied up with ElectraCard Services (ECS), which will provide technology and processing services.

The Indus Forex card will be available in US dollar, euro, Sterling pound, Singapore dollar, Australian dollar and Saudi riyal.

Customers can use multiple ways to track spends and check balances through various means. Also, in order to help them in case of card losses, customers are given two cards, so that the second one can be used, it said.


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