Ecobank launches US dollar denominated pre-paid cards

NAIROBI, KENYA: Ecobank Kenya Limited on Thursday rolled out its US dollar denominated Pre-paid Cards to offer the Kenyan public a safe, convenient and easy way to travel without the hassle of carrying foreign exchange.

Once loaded with money, the Ecobank USD Visa prepaid card can be used for bill payments, shopping, ATM withdrawals at any Visa branded ATM or outlet worldwide.

“Prepaid cards provide a more convenient and safer way to make payments and in some cases track expenses and manage funds. Our USD prepaid card will be of great benefit to Kenyans who travel and require to carry foreign currency,” Ecobank Kenya Managing Director / Regional Executive Director, CESA Sam Adjei said.

“Our USD pre-paid card is easy to acquire, easy to set up and easy to use. You do not need to be an account holder to get one. One only needs to walk into any Ecobank branch with their original I.D or passport and the card will be issued on the spot,” Adjei said.

According to the Central Bank of Kenya, there were only 1.8 million pre-paid cards in Kenya as of February this year.

Kenyans travelling overseas for medical treatment, trade, holiday or studies will find these cards very useful.  

Similarly, foreign nationals currently working or studying in Kenya can use the product.

Pre-paid cards are a growing segment of the financial services market in Kenya and have become a popular mode of payment.

He said that with Pre-Paid Cards, customers stay in control, because you spend what you have loaded onto the card ensuring better money management.