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China Issues First VTM Card
China began to issue its first global debit card in Chengdu, this capital of southwest China's Sichuan Province recently.
The card, the first international travel cash card - Visa Travel Money (VTM) and jointly issued by the China Merchants Bank and the U.S. based Citibank, can be used in 531,000 China's VTM automatic machine tellers in 125 countries and regions.
As the principal card can has as many as eight affiliated cards, every family member can share the same account. Moreover, it offers convenience for business people, tourists and students residing abroad.
A minimum balance of 1,000 U.S. dollars is required to open the account. There are two types of account, one for credit and the other for debit.
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