For those of us who like to travel, we know that one of the hassles that comes along with it is changing large amounts of money to a different currency. Often times, you’d have to wait in long lines at the money changing counter and you’d have to be extra careful with all the cash you have to carry with you.
That said, this will no longer be a problem because RHB Banking Group has now launched Malaysia’s very first multi-currency debit cards which will give users access to 13 foreign currencies alongside the ringgit. So convenient!
Source: The Star
Customers will have the flexibility to take advantage of prevailing competitive exchange rates, and earn interest on foreign currency balances. What’s even better is that there will be no conversion charges or transaction fees, reported The Star.
This newly launched service will be available through two different cards: RHB Multi Currency Visa Debit Card and RHB Premier Multi Currency Visa Debit Card, which customers will be able to use to withdraw cash from any ATM worldwide and enjoy overseas retail spending without additional conversion fees typically associated with credit cards.
Photo provided by RHB
The foreign currencies supported are:
- US Dollar (USD)
- Euro (EUR)
- Singapore Dollar (SGD)
- New Zealand Dollar (NZD)
- Japanese Yen (JPY)
- Australian Dollar (AUD)
- Swiss Franc (CHF)
- South African Rand (ZAR)
- Pound Sterling (GBP)
- Hong Kong Dollar (HKD)
- Canadian Dollar (CAD)
- Thai Baht (THB)
- Saudi Riyal (SAR)
Thinking of your next holiday destination yet?
According to The Edge Markets, RHB managing director Datuk Khairussaleh Ramli said the launch of the debit cards reflects RHB’s commitment to making banking more convenient, fast and seamless for its customers.
“Currently we have more than two million debit cards in circulation and in the first year, we expect to issue 15,000 new Multi Currency Visa Debit Cards,” he said in his speech during the launch.
Source: NST
“The debit card will empower our customers’ lifestyles and provide a gateway for the various financial needs without the hassle of having to open accounts in different countries.”
Customers will have to open the RHB Multi Currency Account with a minimum initial deposit of US$1,000 (RM4,080) or its equivalent in order to get their hands on one of the debit cards.
This is such great news for frequent overseas travellers and students who study abroad! Let us know what you think of this amazing new service in the comments below.
Also read: Finance Ministry: M’sian Uni Students Will Receive RM100 Debit Card Aid Starting March 2019
