ANZ has joined with the University of Sydney to launch a student ID card that doubles as a Visa reloadable pre-paid card.
The card, the first of its kind to be issued at an Australian university, follows a successful pilot with 2000 students in late 2009.
The reloadable cards, which include photo ID, personal information and building access, have a maximum daily balance of A$1000 and can be used at retail locations and ATMs across the country. There is no issuance fee and cards can be reloaded free of charge on campus.
ANZ managing director retail products John Harries says: "This kind of two-in-one card makes sense for university students as it gives them the convenience of the Visa network and they can stay in control of their money as the card uses their own pre-loaded cash."
The partnership with the University of Sydney comes six months after ANZ launched a MySpace recharge card for teenagers using the social networking site.