An international currency card was launched by the Air Canada and CIBC on 26th September which will let the Canadian consumers to conduct purchases across the globe utilising up-to 10 diverse currencies.
Olga Petrycki, CIBC director of public relations, in an email to the press wrote, to apply the for the plastic card an applicant must be a PR holder at Canada, should be able to submit an address proof of Canada and also has to be at age of majority in his/her province.
The card can be used by a mobile application and can be accessed at all those locations where Visa is accepted. Consumers without a smart phone can administer their card on-line.
Vice-president - Global Sales at Air Canada, Duncan Bureau said, “This innovative card gives travelers flexibility and security when dealing with foreign currencies so they can focus on exploring new places.
This card can be used to make online purchases and also for dinning at restaurants. Cardholders can also make 1 free cash withdrawal at any ATM in each country every month.
Petrycki also added that the foreign exchange rates depend upon the time of purchase, and are based on the CIBC’s live streaming interbank charges. The customer locks in the exchange rate at the time-of-load, giving the cardholder peace of mind as to exactly how much they are spending abroad.
Below mentioned currencies can be used with the new card launched by the Air Canada and CIBC:
- Dollar: Australian, Canadian, Hong Kong, US
- Great British pound
- Japanese yen
- Mexican peso
- Swiss franc
- Turkish lira