Com Bank launches International Travel Card

Two financial services giants, one local and one global, have come together to launch Sri Lanka’s first internationally-affiliated Travel Card as a more effective alternative to travellers’ cheques for overseas travellers.

The Travel Card, a product of JP Morgan Chase & Co and MasterCard, has been launched by the Commercial Bank of Ceylon, offering travellers out of Sri Lanka a secure and convenient facility to withdraw cash in the local currency of the countries they visit from over one million ATMs worldwide.

Available to any person entitled to purchase foreign currency for overseas travel, each pre-paid, PIN-protected Travel Card can store between US $ 500 and US $ 10,000, and can also be used as an international debit card for purchases at outlets that accept MasterCard, the Commercial Bank announced this week.

On arrival at their destinations, travellers using the Commercial Bank - Chase Travel Card can withdraw any amount up to the full value of the card from any Automated Teller Machine of the Cirrus or MasterCard networks. For those who need more than US$ 10,000, the Commercial Bank could issue two or more Travel Cards, the Bank said.

“Given the prevailing limit of US$ 1000 in currency notes for overseas travel, the Travel Card represents a quantum leap in convenience to travellers especially because the popularity of travellers’ cheques is on the decline,” Deputy General Manager - International at Commercial Bank Jegan Durairatnam said.

“The most significant aspect of this facility is that it will be accepted virtually anywhere in the world because it is affiliated to JP Morgan Chase.”

The Travel Card cannot be used in Sri Lanka.