An international trip is not cheap! we don’t want other hidden costs added to your expenses. Forex cards are a convenient, safe and smart way to carry and spend money while travelling abroad. Forex card is a pre-paid traveller’s card that is easy to use. It offers you the flexibility of using it at merchant locations as well as withdrawing money from ATMs. It can be easily reloaded even when you are travelling. Forex Cards offer greater security and increased protection against theft. A forex card comes with several benefits. This is the easiest and cheapest way to carry a big chunk of money. Forex cards are the best alternatives for all financial transactions and paying in foreign currency when you are travelling abroad – whether it’s shopping, travelling, entertaining or sight-seeing. Besides it is safer than cash; cheaper than other cards and convenient as credit or debit cards. There are costs levied by banks for international transactions on credit or debit cards, high service charges on card payments etc. Forex cards can be used for multiple trips just be reloading it. You also get to enjoy special privileges and discounts if available.
A prepaid forex card can be loaded with multiple currencies. A person travelling to multiple countries should load multiple currencies as per their need in the same forex card, which in banking parlance is called having multiple wallets in the same card. This will enable the traveller to save a lot on cross currency conversion charges (which is approx. 3%) and exchange fluctuation; because they have the advantage of paying in local currency of visiting nation.
The maximum amount which can be loaded on a travel card is equivalent of US$ 250,000 per annum for the purposes covered under LRS scheme notified by RBI..
Forex cards are issued on either visa or master card platform. So it is immaterial who is the issuer of the card. Looking into the features, again are more or less same, offered by various issuing banks. One differentiator is the whether destination currency is available on the card or not. But the major differentiator is the rate applied and after sales service. Travfx’s partners are authorised stockiest of cards of multiple banks & issuers and provide the best rates for forex cards
Apart from the usual benefits of using plastic money, Forex cards have some specific advantages as listed below:
At the outset, decide on the total quantity of forex that is required and how much to take in cash and balance in card. Check whether the destination currency is available on the card or not. Check the rates online and the offers available on cards.
We can provide the best rates and offers on forex cards due to our arrangements with multiple banks. Best option is to apply online for forex card, which can be delivered or picked from any of our locations.
Depending on your need, you can load different currencies on same card. Reloading of travel card or addition of new currencies can be done before leaving the country or even when you are travelling.
Just select the “Reload Forex Card” on our Home page and follow the steps. Scan copy of the relevant Reload form need to be sent which is downloadable from the order confirmation mail or final Successful Transaction page.
Forex cards are very convenient and economical way to carry foreign exchange while travelling abroad. But before buying the same one must check if the destination currency is available on card or not. If destination currency is not available on card it may turn out to be expensive. Secondly the most important part is to carry good amount of destination foreign currency in cash form to avoid exchange loss at airports. Use the forex card maximum and preserve the cash as it fetches better encashment rates as compared to leftover balance in cards.