Major benefits of Multi-currency prepaid forex card | Travel card

Travelling brings a lot of joy to anyone, irrespective of the reason. You may want to take a business trip or go on a leisurely trip with your family and friends to explore the world. Planning your trip becomes vital to ensure hiccups do not spoil your experience.

And one of the vital elements of planning is managing your expenses. You need to think whether you want to carry bundles of notes as cash or opt for a seamless and better option like a multi-currency prepaid forex card. This article explores the second option and looks at how it can make your foreign trips hassle-free.

Traveling abroad with a prepaid forex card

Several questions can come up in your mind when you decide to travel abroad. You may wonder how much cash should I carry. How much will it cost to move from one place to another? What would be the daily expenses for food? Money is a crucial aspect of all these questions. You need money with you even though it is not recommended to keep a lot of it with you when you are in a foreign country.

A forex prepaid card comes across as a suitable option in such cases. It is a multi-currency prepaid card that you can top up with money regularly. It looks just like your credit or debit card and comes loaded with cash. You can use it to pay for your expenses at restaurants, malls, etc. Furthermore, you can also use it to withdraw money from ATMs.

What you can do with a multi-currency card?

A multi-currency card allows you to manage your expenses without any hassles. Here are the several ways it benefits you.

• Options for multiple currencies: Let’s consider an example of you traveling to Europe in different countries. If you are carrying cash while traveling, you will need to get several different currencies. It can become a hassle to carry currency notes of different countries and denominations. A multi-currency forex card streamlines payments and eliminates hassles when traveling. Simply swipe it anywhere to make a purchase.
• Reduces worries related to exchange rate fluctuations: When you pay in credit card /debit card or INR denominated card for foreign currency, you incur the risk of the money losing some of its value as you are not aware of exchange rate being charged or you do not have any option to bargain /decide on exchange rate. You are safe from currency swings with a forex card because the rates are fixed once the card is loaded.
• Offers wide acceptance: Forex cards are accepted anywhere. Any restaurant or shopping destination that takes credit cards will happily accept a forex card. Additionally, you can withdraw money from an ATM using your forex card.
• Offers security: You will unlikely get your money back if you lose it or it gets stolen. That is not the case with forex cards. These multi-currency cards come with advanced PIN protection and encryption systems, making them safe for use anywhere. Even if you lose the card, you can instantly request to block the card and prevent its illegal usage.
• Enables cost-efficiency: In most cases, a forex card will yield a better exchange rate than other options like INR denominated cards or credit card or cash. Along with higher rates, there are several other benefits of using a forex card. It includes no foreign exchange fees and reduced transaction fees than those of international credit or debit cards, etc.

Tips to choose the best prepaid forex card?

Here are some essential tips to help you pick the best forex card for your needs.

• If you travel frequently to visit multiple nations, choose multi-currency cards.
• Online payments should be a possibility with your card. You might wish to book a hotel or a flight online, so you will need to have the option of doing so readily available. But do not use Forex Cards for pre-authorisation for bookings abroad, as the amount gets blocked for several days. It can be rather used for settling the bills.
• Select cards that notify you of your card balance and transaction information. It will help you keep an adequate balance on your card while you are on the move.
• Confirm that the forex card allows you top-ups. As a result, adding money to your forex card will be simple while moving abroad.
• Ensure the currency card you select enables ATM withdrawals. While the world is moving toward a cashless society, there may be instances during your journey when you cannot make payments online. In these situations, keeping some cash on hand is always a better idea.
• It is crucial to get a forex card with safety features. The easiest way to be safe and enjoy yourself without concern is to get a card that allows secure transactions. Card scams and financial fraud can be stressful circumstances to deal with when traveling overseas.

Conclusion

A multi-currency prepaid card comes with exciting benefits designed to make it easier to manage expenses when traveling abroad. Remember to get the best rates and lock them to avoid fluctuations in exchange rates.

As a leading forex card services provider, Orient Exchange provides prepaid forex cards based on your needs. Buy Forex Card at Inter Bank rates from Orient Exchange and get the best value for your money. Contact us today to know more details about our prepaid multi-currency card services.