Card holders can load the British pound, the US dollar, the South African rand and the Euro while having guaranteed protection against foreign exchange rate swings and attendant losses. The new card branded with MasterCard offers a convenient alternative to foreign currency notes. This allows users and travellers to avoid forex and cross currency fluctuation costs and concerns, especially when travelling and trading in the United States, United Kingdom, Europe and South Africa.
The card comes as a product of Stanbic Bank's collaboration with MasterCard and can be reloaded as often as the cardholder wants. It is additionally useful as the card can be used for e-commerce transactions, point of sales purchases and ATM cash withdrawals at more than 36.9 million locations in over 210 countries, where MasterCard is accepted.
Nana Dwemoh Benneh, Head Personal and Business Banking, Stanbic Bank Ghana said, with the Stanbic MoneyWallet, it was no longer necessary for customers to worry about carrying cash during their travels: "We are in the market to provide state of the art solutions for our customers to help improve their lives. The introduction of MoneyWallet is one of the many interventions that we will roll out this year to continually advance the business of customers."
The Stanbic MoneyWallet has a five year life span, is activated instantly on purchase and it cleverly detects which currency to use depending on the user's location; even changing currency when there is insufficient local currency on the card at any location. There are no added costs to card holders when used for point of sales payments and e-commerce and users have access to 24-hour customer service and support and in the event of a lost, damaged or stolen card, can receive emergency cash.