Standard Chartered in global access deal

STANDARD Chartered Bank has signed a new deal giving its Moneylink card holders global access to their bank accounts.

The agreement, which will make it possible for customers to use overseas point of sale (POS) debit facilities and automatic teller machines (ATMs), was signed with Mastercard International.

According to Standard Chartered, the new deal makes it the first retail bank in Hong Kong to offer its customers an international, point-of-sale debit service.

Card holders will be able to pay for purchases by directly debiting their accounts in Hong Kong from more than 671,000 retail outlets in over 30 countries.

Customers travelling overseas will also be able to withdraw money from their local accounts from 177,000 ATM machines in more than 60 countries worldwide.

The new services are available through two of Mastercard's consumer banking systems, Maestro and Cirrus. Maestro is a worldwide on-line debit system while Cirrus is one of the largest global ATM networks.