The benefits of having an international travel card?

With the advent of globalization, the number of people traveling around the world is increasing exponentially. Traveling abroad requires a proper plan that includes arranging your passport, getting visas, and buying airline tickets. Another crucial aspect of traveling abroad is having a plan to carry foreign currency. 

One of the safest, easiest, and cashless ways to carry your money abroad is through a prepaid foreign travel card, which is also known as a forex card. It helps you take care of your expenses on your travels abroad without worrying about foreign exchange rate fluctuations. It is not limited to just swiping at PoS terminals, you can also use your forex card to withdraw cash from ATMs without zero currency conversion charges.

Here are the top benefits of having a prepaid foreign travel card:

●     Easy to use

The best thing about a forex card is that it eliminates the need for constant calculations. You can load the foreign currencies of your choice at an affordable foreign exchange rate and use it to pay for all your expenses on the go.

●     Cost-effecticient

Compared to a credit card and traveler’s cheque, a forex card gets you better foreign exchange rates. On top of that, you can avail of benefits such as zero-cross currency withdrawal, low transaction rates, etc. Some foreign travel cards come with no withdrawal charges.

●     Locked-in foreign exchange rates

Carrying credit card or a debit card exposes you to foreign exchange rate fluctuations, due to which you can lose a significant amount of money while exchanging currency. However, with a forex card, the foreign exchange rates remain the same throughout your journey, protecting you from fluctuating foreign exchange rates.

●     Easy replacement

In case you misplace your forex card, you can immediately contact your forex card provider to block your card. Your bank will freeze your balance and issue another card in your name. You can receive your forex card within 2 to 4 working days domestically.

●     Easy encashment

Another benefit of having a forex card is that you can easily encash the remaining balance on your card after returning to India. As and when you land in India, you can contact your card issuer to credit the balance to your bank account.

●     Improved security

A prepaid foreign travel card comes with the safety features of a credit card, making it safer than carrying liquid cash. It comes with a chip and PIN technology that stores your data in encrypted form, barring scammers from stealing your sensitive information.

In short,

If you are a frequent traveler, it is better to carry a forex card to pay for all your expenses. With a forex card, you do not have to worry about the ever-changing foreign exchange rates with added safety & security.