Thursday 12 July 2018

Best forex cards in India in 2018

Be it holidays or business trip or enrolling your child to the best university abroad, you need to have a planned budget in place for all of the above. While freezing on your travel deals, booking the best seats in the flight and filling in forms for the university, lock-in on forex rates as well. Even a small fluctuation in rates can dent your plans.

To ensure you experience a hassle-free journey in getting one, banks such as HDFC have introduced Regalia Forex Card. Thomas Cook has Borderless Prepaid card while Induslnd and Yes Bank have followed suit. Here is a detailed analysis of each of them:

1) Thomas Cook’s Borderless Prepaid Card: It is a multi-currency card designed for frequent travellers. You can load currencies from eight countries that include The United States of America (USA), Europe, Australia, Switzerland, Canada, Japan, Singapore and The United Kingdom (UK). They also offer one currency card where you can only load US dollars. One of the advantages of this card is the validity period which is for 5 years.

2) Induslnd Bank’s Multi-Currency Forex Card: The IndusInd Bank’s Multi-Currency card is also custom made for those who travel extensively. You can relatively manage the card well as users can load up to 8 countries’ currencies. Besides, you can use this card at 1.6 million VISA and VISA Plus ATMs across the globe. Also, it offers dining and secure transaction facilities.

3) HDFC’s Regalia ForexPlus Card: It is specially designed for the globetrotters. The forex card offers a wholly seamless and hassle-free payment experience. Although you can initially add only USD dollars, you can later use it for other currencies as well. You can also withdraw cash from ATMs of All Point Network without paying any fee. Make sure you have a Regalia Forex card before boarding your flight.

4) Yes Bank Multi-Currency Travel Forex Card: This card is an ideal solution for those who wish to travel to multiple destinations. The card can load currencies from 10 countries and provides least cross-currency charges.

5) Axis Bank Multi-Currency Forex Card: Here Axis Bank offers three variants – multi-currency, contactless multi-currency and multi-currency image card. Axis Bank's multi-currency options allow you to travel around the world without resorting to old payment methods. The card can hold currencies from up to 16 countries and is valid for 5 years. You can use this card at any VISA ATM, for purchasing products from e-commerce websites abroad and any VISA merchant. This card offers insurance cover up, timely SMS alerts and other such benefits.

Note: You need not have an account with the above banks to get a forex card. One can purchase them with ease.

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