
KCB Bank Kenya, in partnership with Mastercard, has launched a multi-currency prepaid card supporting 11 hard currencies worldwide, designed to simplify and enhance international transactions.
Key Features and Supported Currencies
The Mastercard KCB Multi-Currency Prepaid Card allows users to transact in 11 different currencies, including the Kenyan Shilling (KES), US Dollar (USD), British Pound Sterling (GBP), Euro (EUR), Swiss Franc (CHF), Australian Dollar (AUD), Canadian Dollar (CAD), Indian Rupee (INR), Japanese Yen (JPY), South African Rand (ZAR), and Chinese Yuan (CNY).
Why Choose the KCB Multi-Currency Prepaid Card?
1. For Frequent Travelers
- One Card, Multiple Currencies: Avoid the need to carry multiple currencies or cash by loading 11 currencies onto one card.
- Global Acceptance: Use your card securely at various outlets worldwide, from coffee shops in New York to boutiques in Paris.
- Save on Forex Fees: Benefit from favorable exchange rates, letting you spend more on experiences and less on fees.
Read: I&M Bank Partners with Mastercard to Introduce Business Credit Card for Expense Control
2. For Students Living Abroad
- Convenient Access: Easily load money via M-Pesa, KCB iBank, or at any KCB branch.
- Parental Support: Family members can fund your card remotely to ensure uninterrupted access to money.
- Expense Management: Monitor and track your spending through the card’s online portal.
3. For Athletes and Sports Enthusiasts
- Worldwide Usability: Compete globally without worrying about accessing funds.
- Flexible Currency Wallets: Hold funds in currencies like USD, EUR, GBP, and ZAR for ease during international events.
- Secure Transactions: Advanced security features protect your funds, allowing you to focus on your goals.
Additional Benefits
- Self-Serve Portal: Manage your card and convert currencies in real time through the KCB Bank card services portal.
- Cost Savings: Enjoy reduced conversion costs and favorable exchange rates to simplify global spending.
- Enhanced Convenience: Eliminate the need for multiple physical cards or separate currency accounts.
Read: Absa Kenya, VISA Launch First Metallic Infinite Card in Kenya
Charges Associated with the KCB Multi-Currency Prepaid Card
- Card Issuance Fee: Ksh 500 (exclusive of excise duty).
- ATM Withdrawal Fees:
- Ksh 30 for withdrawals at KCB ATMs (KES transactions).
- Ksh 250 for withdrawals at other bank ATMs.
- USD 2 for foreign currency withdrawals at KCB ATMs with matching currencies.
- Wallet Transfers: Exchange rates apply based on the prevailing market rate.
How to Apply for the Mastercard KCB Multi-Currency Prepaid Card
To get started with the KCB Multi-Currency Prepaid Card:
- Visit a KCB Branch: Bring your National ID and KRA PIN (for residents). Non-residents must comply with current Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
- Complete the Application Form: Fill out the necessary paperwork at the branch.
- Fund Your Card: Load money onto your card via M-Pesa, KCB iBank, or at any KCB branch.