Axis Bank launches MY MONEY CARD

• Designed to meet banking / payment needs of youth
• Prepaid, re-loadable, rupee-denominated personalized card on the VISA platform
• Can be used for cash withdrawals at ATMs, POS transactions at VISA enabled terminals and for online shopping through ‘Verified by VISA’

Axis Bank, India’s third largest private sector Bank, today announced the launch of the MY MONEY CARD, an innovative money management tool for today’s youth. The Card is a prepaid, re-loadable, rupee-denominated card on the VISA platform which enables parents to disburse money to their children staying away from home. The Card can be used for cash withdrawals at ATMs, POS transactions at VISA enabled terminals and for online shopping through ‘Verified by VISA’.

The MY MONEY CARD is designed to meet the banking / payment needs of the youth. It is an excellent tool to make today’s youth financially responsible by making them aware of their expenses and inculcating a habit of spending wisely. The card also gives parents the opportunity to track their wards’ spends and a convenient mode of disbursement of funds.

Mr. R. K. Bammi, President  & Head – Retail Banking, Axis Bank commenting on the launch said, “Axis Bank is the leader in the prepaid cards business and is currently offering a bouquet of innovative rupee-denominated prepaid cards to customers for different payment needs. Axis Bank is committed to being a total solutions bank and the MY MONEY CARD is another step in that direction.”

One of the major advantages of the card is the fact that parents can set usage limits on the card usage as well as withdrawal limits at ATMs. The card can be funded by parents by paying cash at any Axis Bank Branch or by depositing Cheques/DDs at any branch. The money gets transferred to the card in real time in the case of cash transactions.

The MY MONEY CARD has a five year validity and has a lost card liability insurance cover of up to Rs. 50,000/-. The card also offers the user numerous discount offers from merchant outlets of leading youth brands.

About Axis Bank:
Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments encompassing Large and Mid-Corporates, SME, Agri-Businesses and Retail.

With its 1390 branches (including extension counters) and 6,270 ATMs across the country, as on 31st March 2011, the network of Axis Bank spreads across 921 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Bank also has overseas offices in Singapore, Hong Kong, Shanghai, Dubai and Abu Dhabi.

The Bank’s website www.axisbank.com offers comprehensive details about its products and services.