Are you planning on a foreign trip with your family or company? Want to make your abroad payments easily? If you are planning for an outdoors then you will think about how to book air tickets, food, and restaurants there. Yes, we do have International debit cards but they are more expensive. If you want something which is ideally made for foreign payments then you should buy Forex card. These cards have foreign currencies loaded in them so you don’t need to worry about carrying money abroad. The most attractive thing about these forex cards is they are inexpensive and more convenient for traveling as compared to other cards.
What is a forex card? and its varieties?
A forex card is just like a common atm you can use electronically to make payments on stores abroad. You can also withdraw money from ATMs like other debit cards. In simple terms, The entire usage of the foreign card is similar to a debit card. These forex cards are registered with MasterCard or Visa network so that they can be useful all over the world. There are two types of forex cards available,
- Single currency forex card: the word single will make you understand that it will be used for only one type of foreign currency. In short, your single currency card can hold foreign currency of only one place
- Multi-currency forex card: as the name suggests it can hold more than one currency in it. So if you travel two or three places then it will be useful for you.
How to use this prepaid forex card?
The usage of this card is not so tough. You just need to buy forex card from a money changer or from your bank. They will preload it with foreign money as per your needs. Suppose if you’re going to England they will load it with euros. After this you just have to pay a one-time fee for activation then you can start swiping it. You can travel to any country with this. It will give you money as per the country by detecting your location. The money will be deducted from your bank account automatically. If your forex card money will get finished you can reload it online or you can take help from bank transfer.
Travelers can get so many benefits by forex card:
If you are a traveler then here are a few reasons why you should choose a forex card over other cash options for a foreign trip.
- Convenient: you don’t need to buy foreign currency by exchanging your local cash. A, also you can swipe it anywhere and get cash. These cards are universally accepted so that it can be useful for multiple types of currency.
- Save money: forex cards are cheap without any doubt. If you use a debit card it will deduct so much tax. On the other hand, this card will provide you with better exchange rates. They also don’t charge any DCC and currency conversion fees.
- Track your transaction: it offers you a net banking option so that you can take an eye on your transactions and balance. A, also it provides with your bank statements. And you don’t need to worry about the leftover amount after the trip it will be encashed in your account easily.
- Secure and safe: as like Your debit card you have to enter a pin for using it. It also has embedded chips for security. If there is any theft or loss occurred you can easily block it by contacting your bank or card issuer.
So, if you are going to plan any trip make sure to buy forex card for easy payments and cash requirements. There are so many card issuers are the internet you can compare them and get your card.