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Prepaid Forex Travel Card
Prepaid Forex Travel Card
Prepaid Forex Travel Cards offer ease of carrying & spending money on your international travels. They are also called multi-currency cards as multiple currencies can be loaded into them. You can use it at merchant locations and also to withdraw cash from ATMs. These smart and flexible forex cards offer increased protection against theft and greater security. And if you run out of balance, you can easily reload them no matter where you are traveling.
Prepaid Forex Travel Cards are the ideal choice for longer trips to international destinations. They also offer a cost-effective and convenient substitute for international debit or credit cards, where you may end up paying a charge of 2 – 5% on withdrawals. On the other hand, you can load multiple currencies on your prepaid card if you are visiting different international countries. It will save you cross-currency conversion charges of approx. 3% and also exchange fluctuations. Under LRS notified by RBI, you can load a maximum currency amount equivalent to US $2.5 Lakhs per annum on your prepaid Forex travel card.
Among forex Cards
Among forex cards issued on MasterCard and visa platforms, the differentiating factors are the currency available on the card, the rate applied, and the customer service you receive after availing of the card. With our wide network alliance with banks and forex risk management competence, we offer forex travel cards from multiple banks at the best rates in the industry.
Why you should get a Forex Card?
Widely accepted at all the department stores, railways, dinners, etc.
Load up to 16 currencies on a single multi-currency forex card
Reload from anywhere while traveling
Cost-effective with lower charges
No markup fees or charges
Offers safety & security – easy reporting of loss or theft at the contact center
Important things to be mindful of while using a Forex card
There are no charges on swiping at POS.
ATM withdrawals may be chargeable
Do not use ATMs in foreign countries to check your balance or account statement. You may end up paying charges. Rather use internet banking to know your balance
Use the currency that is available on your forex card to make the payments to avoid cross-currency charges
Ensure there’s enough balance on your Forex card for the currency that is charged for payment, especially when you have multiple currencies loaded on your card>
Beware of international card frauds. Always ensure the card is swiped and charged in front of you. Keep your Forex card safe and secure