2 mn read
A forex card provides a safer and convenient option than carrying liquid cash when you are visiting another country. It carries multiple currencies and is accepted anywhere you go.
It is like your credit card in which you loan multiple foreign currencies at a fixed forex money exchange
rate, and it can be used to withdraw cash from international ATMs or make all kinds of transactions when you are in another country.
Features of a multi-currency forex card
Forex cards are loaded with features and benefits to make your international trip hassle-free.
- A forex card comes with all the security features of a credit card, which means that your sensitive information is stored in an encrypted format using chip technology.
- They can beloaded with multiple currencies, but if required, you can reload your forex card from the comfort of your room.
- Forex cards are widely accepted, canceling out the need to find ATMs or alternate payment methods.
- Foreign exchange cards are protected from fluctuations in foreign currency values as the foreign currency amount loaded,which is locked into the forex card, is based on that day’s exchange rate.
- You are free from paying currency conversion charges every time you use your forex card. Thus, it cheaper than your debit or credit card.
- You do not necessarily have to have a bank account with the bank to get a prepaid forex card. You can choose from a variety of foreign exchange cards based on your needs.
- You can avail yourself of the most attractive forex money exchange rates while loading foreign currency into your forex card.
- It enables you to withdraw cash from all visa-enabled ATMs without incurring currency conversion charges.
- If you lose your card, you can contact your card issuer to hotlist your card and freeze your balance.
- Unlike debit and credit cards, there are no charges when you swipe your forex card at PoS terminals abroad.
- Forex cards are accepted anywhere in the world. Cash withdrawal at ATMs and making payments at hotels, restaurants, petrol pumps, and merchant outlets are just one swipe away.
- You can encash the balance amount when you return at currency exchange rates.
- It allows you to temporarily block your card and reactivate it whenever you visit again. This way, you can avoid maintenance charges or penalties for not using your card.
- You can check your balance or make a statement inquiry on your forex card issuer’s website.
- There is also a 24×7 customer care service to answer your queries.
Advantages of a multi-currency forex card
The benefits that make forex cards the best available option compared to carrying liquid cash are:
In short, a forex card is the most safest and inexpensive way to carry foreign currencies when you are traveling abroad. Get the best forex exchange money rate and enjoy stress-free travel.