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If you are travelling overseas any time soon and expect to use your BSP Visa Debit Card while overseas, you need to read on. It’s very important.
Recently, a colleague of ours travelled overseas relying on using his BSP Visa Debit Card to withdraw cash while overseas. While he did withdraw, he found out that there were limitations on the use of his card particularly on withdrawing cash from overseas ATMs.
On enquiring with the bank, he had found out that the Bank has restrictions on use of Classic BSP Visa Debit Cards overseas.
Here’s the notice he received:
An important lesson to learn if you’re going overseas as pointed out by a colleague is to check with the bank that you expect to travel overseas. Although the notice clearly indicates that the restriction appears to be of immediate effect and a “blanket” cover, it’s important to advise the bank.
What you could possibly encounter is that if you use your BSP Visa Debit Card once, you may not be able to use it until after 24 hours from the time of your last use. This might also be the case even if you withdraw less than the maximum amount as stated in the notice.
The other option to save all this hassle is to exchange your Kina before travel. The problem is that it might be unsafe carrying cash around and the higher rate of exchange.
So here’s a few things to note if you’re travelling overseas and intend to use a PNG Bank issued card:
- Consult the bank of your expected travel
- As them about restrictions in place for your card
- Consider exchanging your PGK before travel
- If you do take cash out overseas, go for the max. This may minimize risk of having restricted access to your funds despite not reaching the maximum amount in the earlier transaction
- Use your card less on withdrawing as fees are high on a per transaction basis
