EastWest launches Southeast Asia’s first multi-currency prepaid card
Cashless travel abroad, now possible with EastWest Travel Money
Winter clothing? Check. Various medications? Check. Camera? Check.
Cash for shopping? Not required.
With EastWest Travel Money, safe and convenient cashless transaction abroad is now a viable option for globetrotting Filipinos.
Any frequent traveler knows that carrying bulk cash around can become a safety and security concern. And with fluctuating foreign exchange rates, there is the constant challenge and hassle of finding the money changer that can offer the best deals. In a pioneering effort to address these needs, EastWest Bank recently introduced Southeast Asia’s first multi-currency card which can carry up to six currencies simultaneously. Powered by Visa, it can load US Dollar, Euro, British Pound, Australian Dollar, Hong Kong Dollar and Japanese Yen. For inevitable purchases that require cash, the EastWest Travel Money can also be used to withdraw in local currencies from any Visa-affiliated ATMs worldwide.
Travelers who tend to overspend during international trips can also use the card to help control spending. The EastWest Travel Money is not linked to any deposit account so cardholders can only spend the pre-loaded amount.
The minimum load amount is roughly the equivalent of US$10 in any of the currencies, and the maximum load amount across all currency wallets is US$12,000 per month. Since it is prepaid, there are no annual fees, finance charges, monthly payments and other post-purchase add-ons.
Once loaded, currencies are locked in so funds are protected from fluctuating foreign exchange rates. Cardholders also do not need to worry about maintaining a minimum balance to keep using the card.
As a security feature, should the card get lost or stolen, EastWest Travel Money comes with a companion card which can be used as an emergency card to access the loaded funds. Monitoring and tracking of load balances, transaction details, changing of PIN and locking/unlocking of card can easily be done via https://travelmoney.eastwestbanker.com.
Handy travel buddy
The EastWest Travel Money is now available at any EastWest branch store. Interested individuals can purchase without the need to open an account with the bank.
Until December 31, 2013, the bank is waiving the P500 card application and the US$5 loading fees for new applicants. So for the next trip, travelers should include EastWest Travel Money in their must-bring checklist.
For more information about EastWest Travel Money, log on to www.eastwestbanker.com or visit the nearest EastWest branch store.
EastWest is a subsidiary of the Filinvest Development Corporation (FDC), one of the largest and well-established business conglomerates in the country. FDC, established in 1955, is identified with the Gotianun family and, aside from banking, its business interests include real estate, sugar, hospitality and tourism, and power-generation.