Mumbai: 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 private sector bank said in a statement.

IndusInd, amongst the youngest banks in the country with a relatively small size, will be competing for business in the segment with a host of other banks which already have similar offerings, it said.

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

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

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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