An international travel card is a prepaid forex card that offers the easiest and safest way to manage your hard-earned money on your travels abroad. It comes preloaded and can be used to make all kinds of transactions abroad without incurring currency conversion charges. The best part is that it is accepted world and provides immunity against forex exchange rate fluctuations.
So, if you are a frequent traveler and constantly worry about foreign currency exchange rates, a multi-currency international travel card can remove all your worries. Just like a credit card, you can use your forex card to make foreign transactions. The benefit of a forex card is that you do not have to incur cross-currency or currency conversion charges on each transaction you make with it.
Features of an international travel card
A multi-currency international travel card comes with a host of features and benefits you can avail yourself of on your travels abroad, which are:
● Depending on your forex card issuer, you can load your forex card with up to 20 foreign currencies at once and travel anywhere without worrying about cross-currency charges, depending on your service provider.
● You can get affordable currency exchange rates while loading or reloading your forex card.
● Since the forex exchange rates are predetermined at the time of loading, you are immune to foreign currency fluctuations.
● You can use your forex card to make all kinds of international bookings and payments for hotels, restaurants, stores, airlines, and petrol pumps at zero or minimal extra charge.
● It is not restricted to just swiping at PoS terminals. You can also withdraw cash from any approved international ATM without paying currency conversion charges. However, you will have to pay a flat withdrawal fee on each transaction you make with your forex card.
● The process of making a foreign transaction is similar to that of your credit card.
● It comes with the security features of a credit card, ensuring the safety of your transactions abroad.
● Your days of standing in long queues to buy or exchange foreign currency are long gone. You can load or reload your forex card with the foreign currencies of your choice at the best foreign currency exchange rates.
● It enables you to stay in touch with instant transaction alerts.
● You can keep track of your spendings and check your balance through instant SMS alerts.
● If you happen to misplaced your forex card, you can immediately inform your bank to freeze your balance until a new forex card is issued.
● You can get easy encashment if you happen to have a balance in your forex card after returning to India.
Conclusion
So, if you are a traveler, getting a multi-currency forex card or an international travel card is as crucial as obtaining your travel documents, tickets, etc. The best part about a forex card is that it is inexpensive than your credit card and easier to use than a traveler’s cheque.