Events | Number 5, June 2004 | Bank Tejarat Launches Prepaid Cards

Bank Tejarat Launches
Prepaid Cards

Seyyed Ali Milani
Chairman of the Board &
Managing Director of Bank Tejarat

Recently Bank Tejarat has taken a very praiseworthy step to provide facilities for people who travel to Iran. Tourists and businesspersons coming to Iran can now procure for themselves Prepaid Cards which will make their trips to this country much more enjoyable and vastly safer, because they do not need to carry much cash with themselves.

According to Mr Milani, the Managing Director of Bank Tejarat, these cards are not actually credit cards but act as money to avoid the necessity of carrying cash. They can be obtained from many agencies across the world. All persons traveling to Iran, Mr Milani added, can refer to any one of these agencies and buy one such card paying in Euros, Dollars, Pounds, Yens or Swiss Francs which will be exchanged against Rials at official rates.
These cards can be easily used in Iran when shopping, paying hotel charges, etc. They can also be used in the Automatic Telling Machines (ATMs) of Bank Tejarat to receive cash in Rials, and to receive statements though the POS systems.

Mr Milani added that whatever amount in Rials remains unused by the end of one’s trip to Iran it can be cashed back in the original foreign currency and/or sent back to one’s account in one’s own country through the banking system. These cards can be used in any Iranian city or town or any of the 330 ATMs across the country. The ceiling on the amount that can be paid each day through ATMs is 2m Rials, about 233$ at the present official daily rate.

These cards can solve one of the main problems that people traveling to Iran are facing, namely the problem of carrying cash.