Multi Currency Prepaid card is a Visa co-branded card program for medical treatment purposes to facilitate usage outside of the UAE.
Central funding from the governmental entity’s account towards the cards is through access of a system portal with an approval work follow (maker-authoriser).
Cardholders will be able to use the Multi Currency cards for international POS and cash withdrawal under a secure environment, with Chip and PIN and contactless authentication, without the need to manage FX exposure.
FAB offers the Multi Currency Prepaid card to Government and Federal Entities within UAE, which are banking with FAB, hence cardholder KYC is limited to the entities offered with the card program.
Features and Benefits
General features and benefits availed to the Government client:
- Up to 24 currencies on either one card (multiple currencies) or one currency per card (single currency)
- Client access to Online Portal for complete card management
- Options for bulk reload or individual reload through client portal
- Dedicated call centre 24/7 to respond to cardholders’ inquires
- Mobile app to support cardholders inquiries
- Ease of use, safe and convenient, Chip and PIN, contactless card
- Eliminates the risk of carrying cash in multiple currencies for the cardholder
- Locked FX rates and no incurred FX charge on cards
- Funds are debited directly from government accounts in FAB
Multi-currency program supports a variety of currencies where it includes the following and many others:
|List of Countries||Currencies|
Multi Currency card online portal offers a range of services that makes it convenient, secure and easy to manage your cards portfolio.
Clients will have access to real-time transaction activities online for the Multi Currency card module to issue and activate cards and perform actions on cardholders, as well as upload Payment files in a secured environment from the convenience of your office.
Dedicated individual(s) from the entity will be given access to the secured Online Portal under agreed Terms & Conditions.
Automated, scheduled and self generated reports to provide visibility on the program performance.
Benefits to Cardholder
- 24/7 IVR centre
- No FX transactions - FX is locked
- Mobile application for track spending
- Visa Platinum Card benefits