Stanchart, Visa launch MCA for payments

DUBAI: Standard Chartered (Stanchart) UAE announced the launch of a Multi-currency Account (MCA), in partnership with Visa, a leading global payments technology company, offering customers access to 14 various currency accounts.

The Account will be linked to the Visa MultiCurrency Debit Card, giving clients the ability to create transactions across multiple currencies to use for travel, online shopping, investment, and remitance.

Integrated within the Bank’s existing i-banking and mobile banking plaforms, the Multi-currency Account is a functionality that is being enabled on Standard Chartered’s Current and Savings products (covering both Islamic banking and Conventional) that will allow clients access to 14 currency accounts.

The Bank’s latest innovative solution is designed to ease the daily cashless transactional needs of customers, regardless of where they are in the world. The card enables consumers to load 14 currencies used by UAE residents. These currencies include: Dhs ( UAE Dirham), USD ( US Dollar), GBP (British Pound Sterling), EUR (Euro), CHF (Swiss Franc), AUD (Australian Dollar), SGD (Singapore Dollar), CAD (Canadian Dollar), HKD ( Hong Kong Dollar), JPY (Japanese Yen), NOK ( Norwegian Krone), NZD (New Zealand Dollar), SEK ( Swedish Krona) and ZAR (South African Rand).

Rola Abu Manneh, Chief Executive Officer for Standard Chartered UAE, said: “The ethos behind the Multi-currency Account is to give our customers a simplified and secure plaform for international spending.”