A travel card or a forex travel card is a prepaid card that comes preloaded with a single or multiple foreign currencies. It is a safe and easy way to carry foreign currency on your travels abroad. It enables you to make all kinds of transactions, such as international bookings and payments at hotels, airlines, restaurants, and stores, without worrying about foreign transaction charges.
Depending on your forex card issuer, you can load your travel card with up to 10 to 20 foreign currencies at once and travel the world without incurring currency conversion charges. The best part is that a forex travel card is accepted worldwide and ensures immunity against foreign exchange rate fluctuations.
Features of a forex travel card
Compared to cash, it is the safer option to manage your money abroad. You can carry foreign currency abroad without worrying about cash misplacement or theft. Here are the common features of a forex travel card:
● It is embedded with a chip and PIN technology.
● It is not linked to your bank account, ensuring no security lapse.
● If you misplace or lose your travel card, you can easily replace it at a nominal cost.
● You can load and reload your forex card anytime from anywhere.
Why get a forex travel card for your travels abroad?
● It enables you to load it with multiple foreign currencies at once and travel anywhere without incurring currency conversion charges.
● It protects you against fluctuating foreign exchange rates on your travels abroad.
● You can make bookings and payments at hotels, restaurants, airlines, stores, and petrol stations at minimal or zero extra charges.
● You can also withdraw cash from any authorized ATM at a flat withdrawal fee.
● If you lose your forex card, you can immediately inform your bank to get a new one. Keep in mind that forex card replacement comes with a nominal fee.
● You can keep track of your spendings through instant SMS alerts.
● You can transfer the remaining balance to your bank account after returning to India.
So, if you are traveling abroad, it is crucial to get a multi-currency forex travel card and safely manage your money abroad.