Here’s Why Forex Card can be the Best Companion for Leisure Travel
Travelling has become a much sought-after activity preferred by people to break their onerous and monotonous routine. With technology catching up, travelling is now more convenient and comfortable. Apart from finding the best travel airlines and accommodation, another important aspect of planning a trip across the globe includes, ‘how to carry the foreign currency?’. Here’s where the Forex Card comes in and answers this quandary.
What is a forex Card?
Forex card is one of the most convenient and effective ways to carry money while travelling abroad. It is a Forex prepaid card with preloaded funds that can be withdrawn anywhere around the globe in the choice of your currency.
What is a forex Card?
Types of Forex cards
When we travel to a different country we incur charges for using a debit or credit card. To avoid this extra Levy, travellers are now offered a safe solution with:
a. Single Currency Forex card: This card can help withdraw preloaded money in one particular currency. This card can be reloaded time and again as per the need.
b. Multi-Currency Forex Card: This card can help withdraw money in more than one currency. The travellers can preload the card with multiple currencies of their choice and use it as and when needed.
Apart from being a safe companion to a traveller, these Forex prepaid cards come with a host of powerful benefits.
Benefits of Forex Card
1. Easy to Use: Figuring out the currency and constantly calculating can be a tiresome job when travelling. International Forex Card helps you to avoid such situations and is very convenient to use.
2. Nominal Charges: when you use a multi-currency travelling card you pay a nominal charge on the usage which increases a lot more when the domestic debit or credit cards are used. Exorbitant rates are charged on domestic cards.
3. Single card- multiple currencies: This simple card is your one-stop solution to get money in multiple currencies without any hassle. For Example, Thomas Cook offers a Forex Prepaid card that helps you to load multiple currencies like U.S dollars, Euro, Pounds, Japanese Yen, Australian dollars, Swiss France, Canadian dollars, Emirates Dirham, and Singapore dollars.
4. Globally acceptable: These Multicurrency travel cards have become one of the most secure international payment tools. It is accepted throughout the world and is quite significant amongst international travellers.
5. Cash can be withdrawn from ATM: Cash in the local currency can be withdrawn from any international ATM. The card detects the country and encashes the currency of that country automatically. A nominal ATM charge is incurred for such a transaction.
6. Safe and Secure: Most International forex cardsare embedded with magnetic strip technology that makes them much safer as compared to regular debit or credit cards. In case of any theft, theForex purchase card can get instantly blocked and you can transfer the balance amount to another account immediately.
7. Hedge the foreign exchange rate: The foreign exchange rates are volatile and to hedge yourself from such changes you can lock in the rate of exchange at the time of loading such forex card. This prevents budget deviation.
8. Perks and perquisites: A lot of deals and discounts are offered by the issuer as an incentive while issuing a forex card.
9. Insurance coverage: Many companies and banks provide insurance benefits with multicurrency forex cards. Cover against theft, loss of card, baggage delay, accidental death etc is also offered to the cardholder.
Conclusion
The forex prepaid cards are the safest and most secure mode of payment overseas. They are a cheap alternative to domestic cards and protect cardholders from exchange rate fluctuations. With multiple benefits of a forex card plan a trip abroad and take your favourite companion in your pocket and have a leisure hassle-free experience.
