Sterling Bank introduces prepaid card

MANILA, Philippines - The Sterling Bank of Asia and iRemit Inc. have co-branded a Visa re-loadable prepaid card specially designed for overseas Filipinos called the iRemit ShopNPay Visa Card. It is a prepaid plastic card that can easily be acquired without opening an account with the bank. The cards may be loaded with remittances from P100 to P100,000 per card (with P100,000 as maximum aggregate load per month) and may be allowed P40,000 worth of withdrawals per day. The expiration period for the card is five years. The iRemit ShopNPay Visa card allows funds to be accessed in over 29 million Visa accepting merchants around the world and in more than a thousand BancNet POS merchants nationwide. The card may also be used for ATM withdrawals, online banking through Bancnetonline, and mobile banking.