RHB Singapore unveils prepaid multi-currency Visa Card

Consumers can exchange 11 currencies on the app.

RHB Singapore has launched a prepaid multi-currency visa card in what it claims is the city state’s first such product offered by a bank.

Also read: RHB Bank Berhad unveils mobile banking app for business clients

Consumers first need to download the RHB TravelFX app before they can apply for the RHB Multi-Currency Card through the app. Once approved, they can then proceed to fund their RHB TravelFX card wallet with Singapore Dollars from any Singaporean bank account and start exchanging 11 currencies (SGD, AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, THB, USD) at competitive foreign exchange rates that are accessible 24-hours.

The product does away with the need to maintain a bank account with RHB and provides convenience to travellers who no longer need to bring excessive cash and deal with leftover currencies.

The RHB TravelFX App and Multi-Currency Card also enables customers to make purchases in local currency when overseas, withdraw local currency from the Visa/Plus ATM network, spend online in any currency of choice and perform foreign exchange within the card wallet.

Users can also benefit from an extra level of security as they can lock the card when it is not in use and are eligible for round-the-clock concierge service offered by RHB Singapore.

“Customers will benefit from the convenience and competitive FX rates offered by this facility. The App gives customers total control over the FX rates that they want to buy at, by setting an alert on the App at their preferred rates, and exchange for foreign currencies anywhere, anytime -- enhancing one's travelling experience,” Wong Chung Yee, head of personal financial services and wealth management at RHB Singapore said in a statement.

The RHB Multi-Currency Card is a Visa prepaid card issued by Wirecard and distributed by RHB Bank Berhad in Singapore.