Studying abroad! Know how a forex card is advantageous for a student living abroad?

Are you planning a trip abroad or studying abroad? Why not avoid the difficulties of currency conversion and the hazards of carrying cash in a foreign country by using a Prepaid Forex or Travel Card? Read on to learn more about these cards and how they operate.

When traveling overseas, a Travel Card is one of the most convenient methods to carry foreign cash. Consider it a prepaid card that can be loaded with a variety of common currencies like USD, EUR, CAD, GBP, AED, SGD, and more. After the card has been filled, you may use it as a debit card to pay for all of your travel costs in the local currency of the destination. You can swipe your Travel Card anywhere card payments are accepted, from hotel reservations to admission tickets, bus or train passes, shopping, and restaurant bills. The card can also be used to withdraw local money from ATMs in other countries.

One thing you need to look at here is, that you have two types of forex cards, single currency cards, and multi-currency cards. On a single currency card, you will only be able to load the currency of one nation, but on the multi-currency card, you can load up currencies of multiple countries. So, if you are looking to visit a single country, go for the single currency card, and if you are visiting multiple countries, go for the latter one.

So, what are the benefits of this student forex card or the travel card?

It is one of the best and safest ways to carry cash when you travel abroad. Since you load it up even before you have started your trip makes you plan the budget ahead and also helps in keeping the expenses under check. It helps to carry a large sum of cash easily and conveniently since you make payments using it almost everywhere, at any time. You also need not worry about the fluctuating forex rates during your trip since the value of the currency is locked at the forex rate on the day of loading the currency. We at Orient Exchange have an expert team to keep a live track of the exchange rates and predict the best rate that is available in the market. This helps you to get better value for your currency than most forex card dealers offer. Apart from these, a forex card is also the cheapest way to carry currency abroad since it does not attract extra charges like credit and debit cards. The card can be used for online purchases as well.

But how does it help students who are traveling abroad?

Since the source of expenses for students are their parents, parents must have a direct influence on their children's expenses. And it's where the forex card has an upper hand. Parents can recharge their wards travel cards from the place they are at. And you can load up to 250000 USD per financial year which is quite enough to cover the expenses. In this regard Orient Exchange, a foreign currency exchange gives the best forex card for students which has the best exchange rates, as well as a flexible usage routine as you can reload it anytime, from anywhere. The best part when you buy it from Orient Exchange is that when you come back to India and encash the remaining cash in the forex cards, we do it at the best rates available in the market and so you get more value for your hard-earned money.

So, after knowing everything about the forex card, you also have to know one more thing, and it is the most important part when you have decided to own one. It is about deciding the money changer from whom you can buy a forex card. You have to take care that the money exchange service provider from whom you are buying the travel card is authorized by the RBI to do forex services. It is because if the dealer is not an authorized forex seller, there are high chances of you being cheated out of your money. They may quote a very low exchange rate which will reduce the value of your money and very high transfer fees which will cost you much.

And to make the process of acquiring the forex cards even simpler, forex dealers like Orient exchange have a facility to order it online, sitting from the comfort of your home. The document verification will be done online and the product will be delivered offline by the respective executives of each company.