8 Questions Students May Ask When They Receive Their First Forex Card

Your bags are packed, you’re ready to go! You’ve got your college acceptance letter, your tickets are booked, the visa has arrived… what’s missing in this picture?

Money. And then your parents hand you a Thomas Cook Borderless Prepaid card. A card loaded with the currency of the country you’ll be studying in. With this card, you can pay your fees, buy groceries, withdraw cash and generally use for all your financial needs.

It’s a prepaid forex card that gives you the power to move independently in a foreign country, without the worry of carrying large amounts of cash. However, if this is your first time travelling abroad, or handling money on your own, you’re bound to have some questions and some worries.

Let’s put your mind at ease, by answering some of these questions below. Let’s get to know your news Borderless Prepaid Card and how it can help you when you’re studying abroad.

1.What if I lose the card?

We’ve chosen the biggest worry to start with. The borderless prepaid card is a light, slim card that can easily fit into your wallet, pocket or money pouch. With this card, you don’t need to worry about carrying large amounts of cash (or losing it). If you do happen to misplace it, Thomas Cook gives you the option of a backup card or a replacement card for free. In this case, if you do lose your card or if it gets stolen, you can easily apply for another.

2. What if I run out of money?

If this is your first time living abroad or handling money on your own it’s understandable that you’re worried. It isn’t easy to anticipate every cost and in the first few months, you may cross your budget a little bit, while you adjust to new prices, a new currency and a new country. If you do run out of money, your parents can reload your card an indefinite number of times*.

*Subject to FEMA regulations.

3. Are there any offers on this card?

The Borderless Prepaid Card is packed with features and benefits that make life abroad, a lot easier. And the fun starts at the airport. Once you purchase a Borderless Prepaid Card, you can register for Thomas Cook’s Thanks Again Loyalty Program. Simple registering in the program gets you 100 “Thanks Again” points.

You can also earn more for every 1 dollar spent at over 100+ airports in North America. Furthermore, if you’re looking to save up for your summer trip (either home or to a new country), the Thanks Again program allows you to redeem your points in the form of Jet Privilege Miles. Additionally, you can also redeem your points at the Taj Inner Circle. 

4. Can I be careful with my parent’s money?

Carrying a Forex Card for the first time does mean independence, but it also comes with responsibility. Although it is your parent’s money, you’ll be in charge. Luckily, if you make a budget and try stick to it, you won’t go overboard or run out of money. Furthermore, with the Thomas Cook Borderless Prepaid Card, you can check your balance, get a record of your recent transactions and add an alert or SMS for every transaction you make with the card.

Knowing your balance and checking what you spend your money on is a good way to manage your budget and keep a track on the money your parents send you.

5. What if I forget my PIN?

Having a PIN or password can add a sense of security and safety when you use your card, but there is the dreaded worry of not being able to remember your PIN.

Although the borderless prepaid card is CHIP and PIN protected, Thomas Cook has added layers of security in case any situation comes up. For instance, if you feel like your PIN has been compromised, you just need to call our Card Services customer care. If your card was stolen, call the same number immediately so they can cancel the card. Furthermore, the embedded microchip in your card is encrypted and is almost impossible to replicate.

To change your PIN, visit and register a new PIN, instead of spending time worrying over the forgotten one.

6.What about cash? Will this card cover all my costs?

The ideal of combination of carrying Forex Currency is both cash and card. The difference is based on the country you will be studying in. It’s advisable to carry cash for certain transactions, like public transport or buying food from a small restaurant or street cart. However, the Borderless Prepaid Card allows you to withdraw local currency at over 1.9 million Mastercard ATMS all over the world.

You can also swipe your card at 31.4 million Mastercard merchants worldwide and keep a tab on your transactions by checking your statements online. This makes it a lot easier to track your money, as opposed to cash transactions.

What’s even better, if you choose to withdraw cash from the Thomas Cook All Point Network – which includes 55,000 ATMS spread across Canada, US, Mexico, UK and Australia – you don’t need to pay any withdrawal fees. All you need to do is search the All Point Network on or download the app (available for Android and ios).

7. Why can’t I just carry my bank debit card?

You can carry your bank debit card to fund your studies abroad, however, there are some things to be noted before you make your choice. For instance, when you swipe your regular debit card, your bank will charge you for each and every transaction – an amount that will add up considerably at the end of the month.

Furthermore, your debit card is linked to your entire bank balance. In case you misplace your card, you run the risk of your entire balance falling in the wrong hands. With a forex prepaid card, your money is limited to the amount on your card.

Finally, a prepaid card is tailormade for foreign exchange and currency. When you buy your Forex on Thomas Cook, you get the best exchange rates.

Also read: 4 Reasons You need Borderless Prepaid Card on Your Next Holiday

8. When can I start using my Borderless Prepaid Card?

The Borderless Prepaid Card cannot be used while you’re in India, however, once you’re in the international airport (even within India) you can start swiping your card. Do note that, if you’re given a choice between the rupee and foreign currency, choose the latter. If you go with the rupee you will need to pay extra currency conversion charges.

When you receive your Borderless Prepaid Card, the first thing you need to do is sign the back of your card. Next, memorise your PIN. Finally, log on to borderless prepaid website and register your card under “My Account” by following the instructions on the site and you’re good to go!

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