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Student Cards (International)
Many Bangladeshi students are going to different countries for study purpose. Every year they need USD to meet their educational expenses. Students carry this USD is in the form of cash or other means with them or their parents or relative send this money to them in ways that are not at all convenient at times. Also, our Credit Card policy is not student friendly since they legally cannot be employed. To make this fund transfer convenient we may issue MBL VISA Student Card for these types of students. It is pertinent to mention here that this segment is on the rise.
The proposed MBL VISA Student Card would be a Pre-paid product and there would be no credit risk on bank’s part as the card’s USD limit would be set by the bank upon receiving equivalent Taka from the cardholder prior to activation of the card. Bank shall earn Card fee and a fraction from the merchant commission whenever the card is used at a merchant point.
The terms and conditions of the product may be as under:
a.
MBL VISA Student Card would be Pre-paid in nature.
b.
Card Fee would be USD 30.00 (plus Govt. VAT). However, the fee may be reviewed or revised by the Management of the Bank whenever deems necessary.
c.
There shall be no loading charge. However, cardholder’s excess/useless amount (if any) may be refunded on receipt of Cardholder’s application and the conversion may incur processing fee @ 1% of the converted (refunded) amount.
d.
Application procedure:
i.
MBL VISA Student Card application form (Designed as per BB Guidelines: Appendix 5/64) duly filled in.
ii.
Original and photocopy of admission letter issued by the foreign educational institution in favor of the student (such as Acceptance Letter or I-20 )
iii.
Full time course.
iv.
Refund Policy of the foreign institution.
v.
Guarantor/Financer details.
vi.
Original and photocopy of estimate relating to annual tuition fee, board and lodging, incidental expenses etc. issued by the concerned educational institution.
vii.
Attested copies of educational certificates of the applicant.
viii.
Student Declaration (in the format of Bangladesh Bank)
ix.
Valid Passport.
x.
VISA (depending on the different cases)
xi.
Photograph of the student.
It is to be mentioned that as per Bangladesh Bank guidelines ADs are allowed to release foreign exchange for admission and study by Bangladeshi nationals in regular courses such as undergraduate, post graduate, language course pre-requisite to bachelor degree & professional diploma/certificate courses in recognized institutions abroad (Copy enclosed).
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