Are you going for a world tour next month with your loved ones? You all must be excited about the new places and cultures you will discover. You may have already obtained your travel documents, such as passports, visas, and tickets.
Have you thought about how to carry your money abroad? Are you planning to carry wads of cash in multiple foreign currencies, use debit cards, or credit cards? The best option to carry your hard-earned money abroad is to buy a multi-currency forex card.
Multi-currency forex card
It is a prepaid travel card that comes preloaded with multiple currencies. It is the safest and easiest way to carry your money abroad and conveniently pay for all your travel expenses abroad. You can use your multi-currency forex card to make international bookings and payments at all PoS terminals. Besides that, you can use it to withdraw cash from ATMs and opt for a forex card balance check to keep track of your expenses.
Here are the top reasons to get a multi-currency forex card for your travels abroad:
- Easy to use
If you are a frequent traveler, you will have to go through the hassle of purchasing multiple currencies and carrying wads of liquid cash to multiple countries. The downside is that you are at risk of cash misplacement and the stress of being stranded abroad. However, a multi-currency forex card simplifies your payments abroad and enables you to enjoy hassle-free travels. Like your credit card, you will need to swipe it at PoS terminals to make payments.
- Better foreign exchange rates
A multi-currency forex card can get you the best foreign exchange rates compared to buying currency from money changers or using your credit card to make payments abroad. The best part about a multi-currency forex card is that you do not have to worry about currency conversion charges and cross-currency charges. You can even withdraw cash from any visa-enabled ATMs at a nominal withdrawal fee.
- Protects you against foreign currency fluctuations
When you purchase foreign currency in cash, you lose some of its value if the foreign exchange rates fluctuate. However, with a multi-currency forex card, the foreign exchange rates remain constant after loading your forex card, as the rates are locked in once you load your card.
- Safety and security
A multi-currency forex card comes with a chip and PIN that ensures the safety and security of your transactions. It enables you to opt for a forex card balance check to keep track of your expenses. Also, if you lose your forex card, you can immediately inform your issuing bank. The bank will block your card to prevent unauthorized transactions until a forex card is issued to you.
Other features include:
- You can change your ATM PIN online.
- Temporarily block and unblock your forex card.
- Host-list your forex card when it is lost.
- You can get insurance against unauthorized transactions.
- It is widely accepted
Multi-currency forex cards are accepted worldwide. You can use your forex card to make bookings and payments at merchant outlets, shopping malls, restaurants, hotels, bars, airlines, and petrol pumps at zero foreign transaction charges. Additionally, you can use your forex card to withdraw cash from any ATM without worrying about currency conversion charges.
- Travel to the world with ease
Another benefit of a multi-currency forex card is that you can load it with multiple foreign currencies and travel to your preferred countries without worrying about cross-currency charges. The number of foreign currencies permitted to load onto your forex card depends on your forex card issuer. It generally ranges between 10 to 20 countries. The best part is that you can easily encash the remaining balance upon our return to India.