Australia: NAB celebrates games with M2006 Cash Passport

Stocks and Financial Services Press Releases Tuesday December 13, 2005 09:51
The National Australia Bank (NAB) today launched the commemorative NAB M2006 Cash Passport, which is set to be the most practical collector's item of the Melbourne Commonwealth Games.

NAB Chief Operating Officer, Business and Private, Bruce Munro said the NAB M2006 Cash Passport will not only be a fully functional, pre-paid travel money card with PIN protection, but also a limited-edition keepsake from Melbourne's biggest-ever event.

"The NAB M2006 Cash Passport will reduce the need for card holders to carry large amounts of cash in their pockets during Games time, which we all know can be risky. This will be a safer way for people to get around during such a busy period, without forgoing the convenience of instant cash. Cardholders have access to local currency from VISA and PLUS ATMs 24 hours a day, 7 days a week.

"And with only 3000 NAB M2006 Cash Passports on sale, it is going to be a sought after memento for travelers, athletes and Melburnians alike. It can be loaded with Australian dollars at the cardholder's convenience in any of our branches. Cash Passport is also reloadable by using BPAY or simply visiting one of our branches (via phone or internet banking) Mr Munro said.

The NAB was the first major bank to offer the Cash Passport in Australia, and since launching the product in October this year, over 700 cards have been sold in the available currencies – British Pound, Euro, Australian Dollar and US Dollar.

The NAB M2006 Cash Passport is a special edition product the bank has developed as part of its partnership with the M2006 Games. This special edition Cash Passport Card will only be available in Australian Dollars.

"The NAB is proud to contribute to the biggest event Melbourne has ever staged and the NAB M2006 Cash Passport is part of our program to make the Games a memorable and enjoyable experience for all of our customers," Mr Munro said.

The Cash Passport, a world first in travel money, was launched by Travelex in August 2002, as an enhancement to the Visa TravelMoney card that had been in the market since 1997.
Travelex Managing Director Australasia, Martin Crawford said the NAB took a leading position among the major banks in the travel money market with the NAB M2006 Cash Passport.
The NAB M2006 Cash Passport goes on sale today in all major CBD branches nationally and other selected branches very close to where Games events are being held.
--www.theasianbanker.com (December 13 2005)--

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