Article Trunk



What unique characteristics do multi-currency forex cards have?

11.14.2022 · Posted in Writing and Speaking

A multi-currency forex card is the best option to carry foreign currency in a safe, easy, and cashless manner on your travels abroad. You can use it anywhere you go and make all kinds of transactions. For instance, you can make purchases of goods and services at no extra cost. Besides that, it also allows you to withdraw cash from ATMs without incurring currency conversion charges.

A multi-currency forex card can be loaded with multiple foreign currencies at once at the best exchange rate. After loading your card, you are protected against fluctuating foreign exchange rates throughout your journey. It is safer than cash and easier than using a traveler’s cheque.

Key features of a multi-currency forex card

A multi-currency forex card comes with a host of features and benefits that you can avail of to enjoy stress-free international travels. For instance, you can get the most attractive foreign currency exchange rate while loading your forex card.

Here are the features of a multi-currency forex card:

● You can load it with multiple foreign currencies at once. However, the number of foreign currencies depends on the forex card issuer’s policy.

● As the foreign currency exchange rate remains unchanged after loading your card, you are always protected against currency fluctuations.

● You can make international bookings and payments at stores, restaurants, hotels, bars, airlines, petrol pumps, etc at minimal charge.

● You can avoid the hassle of standing in long queues to exchange currency. You can load your card at the best exchange rate.

● You can withdraw cash from visa-enabled ATMs at no currency conversion charges. You will, however, have to incur a flat ATM withdrawal fee on every transaction you make.

● It provides enhanced security to protect you from scammers. You receive an SMS alert on your mobile number or email every time a transaction happens through your forex card.

● If you misplace your forex card or if it gets stolen, you can immediately inform your bank to block your card and freeze your balance. You can get a new forex card with the balance amount transferred to it.

● Upon your return to India, you can request your bank to transfer the remaining balance to your bank account.

● It allows you to track your spending and check the balance of your forex card through your bank or card issuer’s forex website.

In short,

If you are traveling abroad, getting a multi-currency forex card is as essential as arranging your travel documents. Unlike your credit card, you can avail of attractive foreign currency exchange rates and protect yourself from currency fluctuations.

Comments are closed