I&M Bank Uganda has unveiled the I&M Bank Multi-currency Prepaid card, a multi-currency card that allows customers to make payments and purchases using money that is pre-loaded on the card.
The card is designed to provide customers with a safe, convenient, and flexible way to manage their finances locally and abroad. It allows users to pre-load funds and make payments without the need for a bank account or line of credit, offering a secure alternative to carrying cash.
The card is widely accepted at Mastercard ATMs, Point-Of-Sale (POS) terminals, and online platforms, making it ideal for everyday purchases, online shopping, and travel.
Customers can load funds instantly through multiple channels, including branch transfers, internet or mobile banking, cash deposits, ATMs, bank agents, and mobile money.
A key feature of the card is its multi-currency capability. Users can hold up to nine currencies, that is; Ugandan Shilling (UGX), US Dollar (USD), Euro (EUR), British Pound (GBP), Kenyan Shilling (KES), Tanzanian Shilling (TZS), Rwandan Francs (RWF), South African Rand (ZAR), and Indian Rupee (INR). This enables international transactions without the need for mental currency conversions.
According to I&M Bank CEO- Robin Bairstow, the product is designed to go beyond everyday payments, positioning it as a practical financial management tool.
“We are seeing more customers look for simple tools that help them manage money on their own terms,” said Bairstow. “This card fits into everyday life, whether someone is supporting family, budgeting monthly expenses, or handling income that does not come in on a fixed schedule.”
The card, which is available to both I&M account holders and non-account holders, offers a range of limits to suit different needs.
Other key benefits include locked-in exchange rates for multiple currencies, reduced foreign exchange fees on international transactions, and a secure, controlled spending experience.
According to I&M Bank’s Head of Marketing and Corporate Communications- Annette Nakiyaga, the card is designed to make everyday money matters simpler and more convenient for customers.
“Our focus is always on creating solutions that make everyday money matters easier for our customers. The I&M Mastercard pre-paid card is designed to make handling money less complicated and more predictable, so people can focus on what matters most,” she said.
Daily default limits include Shs3m at ATMs, and Shs20m for retail and online purchases, with maximum limits up to Shs10m and Shs50m respectively. Customers can request adjustments to these limits as needed.
