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Royal Mint launches debit card made of gold - but it isn't cheap - SKYNEWS

OCTOBER 12, 2019

Potential customers will be pleased to know the card has no foreign exchange or transaction fees.

BY  David Chipakupaku

 

The card is made of 18-carat gold

Image:The card will come engraved with the customer's name and signature

The Royal Mint has produced its first payment card - made of gold and costing nearly £20,000.

The 18-carat card can be personalised for customers "who value high-quality luxury items that make a statement".

The Mint has worked with Mastercard and payments technology firm Accomplish to make the debit cards, which cost £18,750 each.

Mastercard say they are part of an account called Raris and will be engraved with the customer's name and signature.

Any other details on the card will cost extra.

Royal Mint chief executive Anne Jessopp said they are "hugely excited" about the launch, which she called an "acknowledgement of growing consumer demands for unique and luxury payments cards".

 

Ms Jessopp said it represented "a combination of over 1,100 years of Royal Mint craftsmanship with tomorrow's payment technology".

 

The card is made of 18-carat gold

Image:The Royal Mint says there is 'growing consumer demands for unique and luxury payments cards'

Other than the hefty card fee, there are no other charges and no special criteria for applicants to meet.

The account also has no foreign exchange or transaction fees.

Mark Barnett, Mastercard president for the UK and Ireland, said: "This is a really exciting project, joining the outstanding heritage of the Royal Mint and Mastercard's focus on payment innovation and security, together with our worldwide acceptance network."

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