Tuesday 18 September 2018

6 benefits of multi-currency forex cards

You have planned for your dream tour since many months. You are excited about the trip. Your family is over-joyed about going on their first international trip. Together, you’ll are ready to explore new places, culture, cuisines and share a unique experience altogether.    Yes, you have researched about the best places to visit and checked whether your flight is on time. But do you have a plan B? Do you know what to do if you or any of your family member suffers an accident or any other health scares?   

Do you have additional cash in place? These questions might be unanswered for now, but we have answers for all of them. Several banks are offering multi-currency forex card to make your task easier. This card acts just like your credit card that can be used in any MasterCard or VISA outlet abroad. You can use them during emergencies or make additional purchases.

Some primary benefits of using forex cards are:

1) If you plan to travel to many countries in one trip,  and you are carrying cash, it can get cumbersome. To make your travel hassle-free a multi-currency forex card comes handy. These cards are generally available in 22 currencies.

2) One of the primary reasons why travellers opt for a forex card is   due to the attractive rates. You can book the exchange rates well in advance and saves you from fluctuating prices in the market.   Imagine travelling to Europe, and you  have to exchange the Euro to INR rate, be ready for some mental gymnastics.        

3) Your forex cards  and bank account have no connection.They are standalone cards. A forex card works like a  debit card without even liking your account to it. There are many security measures included in the forex card such as a  chip, PIN code, and the benefit of blocking the card in case of theft.             

4) Unlike travellers’ cheques, forex cards are widely accepted. You can use your card at retail outlets, ATMs and even on e-commerce websites.  

5) Some multi-currency forex card offers concierge services. Imagine having someone take you through the immigration, baggage counter, experiencing the services chauffeur, etc. the moment you land in your destination? Perfect, right?

6) The best part about forex cards is that the left-over foreign currency can be used in any other destination. They come with a validity period of 3-5 years. You can also encash it by paying a cash-out fee.

Now that you know the benefits of a multi-currency forex card, how do you intend to spend them on your next trip abroad? 

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