Have you ever found it frustrating to exchange your Kina to a foreign currency before you travel overseas? Have you ever found it uncomfortable to carry large sums of foreign currency? Many of us haven tended to go around these hurdles by using a credit card but the obvious downside to that is the expensive interest that goes with it. I’ve recently discovered that the BSP Visa Debit Card is the perfect solution and even better much cheaper than the credit card. If you don’t currently have a BSP Visa Debit Card, you should seriously consider applying for one now. Here’s why.
- Carry less cash
The BSP Visa Debit card can be used to access the funds in your account abroad. As long as you see the VISA sign on a particular merchant, you can use the card. This means that you do not necessarily have to carry with you large amounts of foreign currency before travelling abroad.
2. Exchange rate
The BSP Visa Debit card can save you a lot of time. Rather than scrounging around for the best exchange rate to buy foreign currency, you probably only need to change a few K100 just for some handy expenses while the rest of your funds can remain in your account and used whenever necessary. This means you spend less time worrying about the exchange rate. In fact, a recent experience revealed that the rate is much better when accessing your money through the use of the card as opposed to changing your local currency here. Last month, the exchange rate to buy AUD from a local bank was 35 cents for every Kina. Using the BSP Visa Debit card overseas, the rate was .38 which means the PGK could buy more overseas.
Convenience is what’s great about the BSP Visa Debit Card. You can use the card on almost all ATM’s as long as the VISA sign appears. You can use it on EFTPOS machines too and for major purchases, the card comes in handy.
4. Online purchases
It’s not just offline purchases that matter. Whether your here or abroad, purchasing goods and services online is simple and easy with a BSP Visa Debit card. More Papua New Guineans are starting to venture into online commerce so having a BSP Visa Debit card allows you to make purchases online.
5. BSP Visa Alert
One of the fantastic services offered by BSP is the BSP Visa Alert. The alert informs you when a particular transaction is made. An alert by way of an email will be sent to you every time the card is used. If you are unfamiliar with a particular transaction when receiving an alert, you can take immediate action by contacting BSP to investigate. This fraud prevention service is critically important given then increasing number of online fraud related cases.
6. Going overseas
If you’re travelling overseas, it might be best to inform BSP that you’re going overseas and will be using your card so that they are aware of transactions made overseas. As part of its fraud prevention strategy, BSP can block transactions if it suspects that there might be an element of fraud. By informing BSP, they can be made aware of transactions that they might consider suspicious. It is not necessary to inform them of your travel but it does help you protect your funds in case the bank finds something suspicious.
The BSP Visa Debit Card is very useful. Unlike a credit card, you’re using the money in your bank account so there is no borrowed money and no interest on the use of your own funds. Additionally, you’re more responsible in the use of your funds and are limited by how much funds you have in your account.
If you want to know more about the BSP Visa Debit, click this link.