ISLAMABAD: Meezan Bank has introduced a Foreign Currency (FCY) Debit Card specifically for exporters and freelancers with Exporters’ Special Foreign Currency Accounts (ESFCA) with the Bank.
Utilizing the Mastercard payment system, this card allows use of the card in retail stores all over the world, use of ATMs enabled by Mastercard for cash withdrawals, and cross-border payments without the need of central bank approval.
The FCY is also equipped with NFC functionality for contactless payments at retail points of sales for smooth transactions. In addition, it provides real-time tracking of expenses so that the user could keep an eye on them.
According to Syed Iftikhar ul Haq, group head-consumer finance of Meezan Bank, the FCY Debit Card has been launched for the convenience of the consumers to make cross-border payments easier and more secure for those working or travelling abroad, as is the case with online shopping and international business: this will make it easier for the customers to keep track of their cash flow and total financial expenditure, giving them peace of mind while delivering such services.
Launching FCY Debit Card is only a week after the signing of an agreement with Visa for the launch of the Meezan Visa Student Debit Card to be issued free of cost to the account holders of the Meezan Asaan Student Account.
This would be an important addition to the Bank’s product portfolio for the exporters, freelancers, and students and more so reaffirm the Bank’s commitment to providing innovative and convenient banking solutions.
