The introduction of a VISA platinum card for Standard Chartered Bank excel customers could not have come at a better time. The world takes VISA these days and there are a lot of economic variable attached to this development that make a whole lot of business sense. 

Even though the development is long overdue, Standard Chartered Bank should be highly commended for this step in the right direction. From a banking sense, it reduces the cost of doing business for card holders since VISA carries fraud guarantees on all purchases. Also, inflation is easily held in check by the Central Bank as the use of plastic reduces the need for more supply of actual bank notes. 

From the business side, more purchases can be made by card holders from any where VISA is accepted, over the internet, ATMs and actual zip zap systems around the world and now holders of such cards do not need to travel with actual foreign currency and or travel’s check. 

Visa debit is a popular payment option. More Visa payment transactions are made using Visa debit cards than Visa credit cards. With a debit card the money for each transaction comes directly out of a cardholder’s bank account. It’s safer than carrying cash and easier than writing a check.  

Each purchase is recorded automatically on a monthly bank statement, helping cardholders track and manage their expenses. There are other reasons too why this is a beautiful development and it should be highly encouraged so that all other banks followed suite 

It’s the card that works like a check, only better. It’s not a credit card; it’s a debit card – which means it comes out of your checking account just like a check. And even better it is universally accepted at over 25 million merchants. In addition, you get all of these great benefits with Platinum Visa CheckCard.

 Visa’s Zero Liability policy means 100 percent protection for you. Visa’s enhanced policy guarantees maximum protection against fraud. You now have complete liability protection for all of your card transactions that take place on the Visa system.

Should someone steal your card number while you’re shopping, online or off, you pay nothing for their fraudulent activity. If you notice fraudulent activity on your card, promptly contact your financial institution to report it. It is important to continually monitor your monthly statement to identify any unauthorized transactions.

** Visa’s Zero Liability policy took effect April 4, 2000, and is a great improvement on the previous policy. The former policy required that you report fraudulent activity within two business days of discovery. After this two-day period, you could be held responsible for up to $50 of the unauthorized charges.

With the new Zero Liability policy, you’re no longer required to report fraudulent activity within two days and you’re not responsible for any fraudulent transactions made over the Visa network. The Zero Liability policy covers all Visa credit and debit card transactions processed over the Visa network—online or off. The only transactions not covered under the Zero Liability policy are commercial card, ATM, and non-Visa-branded PIN transactions.

For transactions on other networks, the liability decision is left to the financial institution that issued your card. The issuer has the option of extending the same protections afforded by Visa’s Zero Liability policy … thanks a trillion