Forex cards offer many advantages over carrying cash for international travel, helping to lower currency exchange fees and save you time and money in the form of convenience fees.
Multi-currency forex cards provide you with an efficient, safe and secure means of moving funds between 22 currencies without incurring mark-up fees.
1. Convenience
Forex cards provide a safe and simple way to transport foreign currency. Just like debit or credit cards, forex cards can easily be managed. In case of loss, simply contact your bank immediately so they can issue you with another card.
Checking your card balance online from any location is convenient and reloading them through your bank account is effortless. Furthermore, conversion charges are eliminated as rates are locked-in upon issuance – perfect for Indian travelers planning international trips! One such card that stands out amongst its peers is YES Bank Multi-Currency Travel Card as being highly secure with low cross-currency charges – perfect for contactless payments, concierge services, airport lounge access and Miles and More membership benefits rolled into one co-branded co-branded product co-branded product offering benefits like contactless payments, concierge services, concierge services access plus free membership with Miles and More membership benefits!
2. Security
As opposed to cash, most forex cards utilize secure microchip technology that makes them more resistant to counterfeiting and skimming, as well as providing protection from theft and loss. With PIN protection in place to safeguard card holders against loss and theft, forex cards offer safer travel when travelling overseas than cash does.
These cards provide 24/7 global assistance and security features that keep travellers safe while travelling; some even offer a locked-in exchange rate that helps save up to four percent in exchange rates.
Prepaid travel cards provide global use for transactions like booking flights and hotels, shopping both online and offline stores, dining out, withdrawing money from international ATMs and withdrawing it with minimal or no markup fee as opposed to currency conversion charges at airport forex counters.
3. Multi-currency
A forex card is the safest way to transport funds abroad, offering all of the security features of both debit and credit cards, with some even offering backup cards in case of loss or theft. Plus, these cards often offer lock-in exchange rates that reduce transaction costs – saving both time and money!
Students traveling overseas either for study or vacation can use a multi-currency forex card to avoid currency conversion charges, particularly as some countries charge higher cross-border fees than others.
Axis Bank’s Prepaid Miles and More Card is ideal for Indian travellers visiting overseas locations frequently, offering contactless payment without needing to enter a PIN number.
4. Insurance
The best forex cards offer insurance benefits that can help travellers protect their funds when traveling abroad. In addition, these cards feature contactless payment and an exchange rate lock-in – plus, some cards even allow users to top-up online making them convenient and user friendly!
Multi-currency cards are an ideal option for travellers visiting multiple international locations. For instance, the YES Bank Multi-Currency Travel Card enables travellers to load up to 10 currencies onto one single card at an issuance fee of only Rs 100 and minimal cross-currency charges, making this card the ideal option for travelling internationally. In addition, this prepaid card can easily be managed anywhere around the globe through its dedicated customer care portal.
5. Safety
YES bank’s Multi-Currency Travel Card is among the finest forex cards available in India, providing secure payment, contactless technology, chip + PIN authentication, fixed exchange rates and an online customer care portal to make managing your card easy.
Many of these cards provide users with the ability to migrate funds between currency wallets without incurring mark-up charges, saving travellers money when funds in one currency become exhausted. Furthermore, many come equipped with security features such as loss of card replacement cover, ATM assault coverage and personal accident coverage for added peace of mind while travelling. Thus choosing the appropriate forex card can make your travels smooth.