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Seylan Bank `the highest Visa Card issuer in Sri Lanka`
Wednesday, 6 September 2006 - 5:09 AM SL Time
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Q. How does the imposed 1% Stamp Duty by the State affect the Credit Card Customers?
A. All Banks have been lobbying against this stamp duty that could discourage the customer who may look for alternative sources of making payments for purchases. There had been several discussions between the regulators and the Banks. Commissioner of the Inland Revenue Commissioner, A. A. Wijepala says that it is very unlikely that it would be reviewed or reduced, therefore Seylan Bank made a bold corporate decision to absorb the levy without causing any inconvenience to the customer. This is basically a business decision to identify and help the Card industry. Seylan Credit Cardholders are free of Stamp Duty. In addition to this, we decided to waive off the fuel surcharge of 2% and Debit Tax of 0.1% on Seylan Debit Cards.
Q. What are the benefits a Seylan Credit Cardholder receives that are unique in its features?
A. As the outset I would like to mention that Seylan is the largest Visa Card issuer in Sri Lanka. Apart from the usage of Credit Cards that give the customer a purchase power of the credit limit agreed upon, we have offered them various schemes such as the `Grants Scheme` where we reimburse a certain percentage of Surgical, Wedding Reception Bills and School fees, whilst offering a free `Tikiri` minor Savings account to a new born child. `Zero Interest` Instalment Plan is also another benefit offered to Seylan Credit Cardholdes which is been enjoyed by a Majority of cardholders. Through the `Zero Interest` Instalment Scheme cardholders can choose from a range of outlets, purchase and repay in interest free instalment schemes. Seylan Visa Credit Cardholders earn points equivalent to rupees each time they use their cards. These points can be redeemed at selected merchant outlets. Seylan Credit Card members are offered a Seylan Visa Nawamaga IDD Call Card absolutely free at the lowest IDD rates and are loaded with lots of prizes and surprises. All Seylan Visa Credit Card members are entitled to a Travel and Medical Insurance cover absolutely free when the air ticket is purchased using a Seylan Visa Credit Card. Accidents and emergencies abroad, sickness and medical expenses, personal accidental death, baggage loss, delay in checked baggage, loss of passport, personal liability, missed departure/connection are covered by the Travel Insurance Cover. Seylan offers all options for you to travel with ease.
Q. Seylan Bank has a range of cards to cater to many needs, Seylan Visa Pre-Paid Rupee Card is one of them. What does this card offer?
A. This is the first Pre-Paid Visa accredited card launched in Sri Lanka. The unique feature is that you don`t need to maintain an account with the Bank to obtain a Seylan Visa Pre-Paid Rupee Card. If you are over the age of 18 you can obtain a Pre-Paid card at any Seylan bank branch over the counter with a minimum value of Rs.500/-. The card can be used for ATM withdrawals and purchases at merchant outlets. This avoids the hassle and risk of carrying cash. The card is valid for 6 years and can be renewed at no cost. It can be reloaded and is available at all Seylan Bank branches. You can log on to www.eseylan.com and select the `Rupee Card` icon to check balance, transaction details or to deactivate the card in the event the card is lost or stolen. There is no tariff charged on balance inquiry or cash withdrawal from Seylan ATMs
Q. Seylan Visa Traveller`s Card is another first of Seylan Bank? How is the response of customers?
A. The Traveller`s Card as you know is an alternative to Traveller`s Cheques. This avoids the hassle of carrying foreign currency. With the Travller`s Card you don`t need to waste your time at money changers and pay encashment fees, instead you can use the card at any Visa ATM to withdraw or you can use it directly to pay for purchases. The card is issued in three currencies: USD, GBP and EURO, it can be converted to the local currency of the country you visit. Traveller`s Card can be reloaded. You get a free Travel Insurance Cover with the Travller`s Card. You can get your balance encashed over the counter from any Seylan branch / ATM. Traveller`s Cardholders receive a SMS message each time they do a transaction. Cardholders also receive an extra card which could be used at the event of loss/theft of the Main card.
Q. What makes Seylan Card Holders have an edge over any other?
A. We are able to offer our Card Holders the benefit of making their purchases from any part of the world with ease as they are also free of all taxes. We are the first to issue both Debit and Credit Cards over the counter at all Seylan Bank branches island wide. We give our cardholders both Debit & Credit; the option of having their photograph on the face of the card. Since we are a part of the Ceylinco Group we are in a position to cross sell most of our products within the Group, which I would say is one of our biggest strengths.
Q. To conclude, what promotions are in line?
A. Win with Visa Competition is back. All you need to do is use your Credit or Debit Card for purchases above Rs.500/- between the period August 15 to September 30th 2006 that automatically enters you to a draw. Many prizes such as; tickets to witness the ICC Championship Trophy and many more could be won.
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