Travelling has become part and parcel of everyone's life nowadays. Be it for business or leisure purpose; travelling is no more an arduous journey fraught with peril. While the travel category is keeping pace with technology and convenience, the way you pay your expenses overseas has also changed over time. Enter forex cards.
What are forex cards?
Also known as prepaid cards, is slowly becoming a fad amongst the frequent travellers. A forex card is just like a debit/credit card that you can swipe and use at any merchant as well as ATMs abroad. These cards are loaded with multiple currencies that differ from bank to bank. It is a successor to travel currency cards. You can apply for a forex card online as well.
There are two different kinds of forex cards:
1) Single-currency forex card: You can only preload one particular currency in the card. You can reload the card as and when required.
2) Multi-currency forex card: You can preload the card with multiple currencies. There are different cards available under this category that banks, other institutions and travel agencies offer to the customers
Some of the forex card benefits are:
1) They are cheaper than exchanging currency. Even banks enjoy the perk of supplying a forex card as the customers receive better conversion rate
2) In this case, you need not share a great rapport with the bank. You can choose from an array of forex cards as per your suitability
3) They are safer than carrying hard-cash. These cards come with inbuilt pin and chip. Forex cards are also not connected with your bank account. So, it is a secured means of finance as well
4) One of the important forex card benefits is that if the card gets stolen, you can use the extra card given to you by the bank via the kit. However, you first have to file a report of theft post which you can use the spare card
5) Forex cards are universally accepted and recognised
6) You can block the card as you return from your trip. You can then unlock it when you travel to another country. This is done free of cost
7) You have dedicated customer care assistance in case of any query
When applying for forex card online or offline, you have to have the following documents handy:
1) Application form
2) Passport original as well as a copy
3) Visa copy (if you are travelling to many countries)
4) Copy of the air ticket
5) PAN card
A forex card is a boon for travellers who are looking for a fitting and secure way of making payments abroad.
What are forex cards?
Also known as prepaid cards, is slowly becoming a fad amongst the frequent travellers. A forex card is just like a debit/credit card that you can swipe and use at any merchant as well as ATMs abroad. These cards are loaded with multiple currencies that differ from bank to bank. It is a successor to travel currency cards. You can apply for a forex card online as well.
There are two different kinds of forex cards:
1) Single-currency forex card: You can only preload one particular currency in the card. You can reload the card as and when required.
2) Multi-currency forex card: You can preload the card with multiple currencies. There are different cards available under this category that banks, other institutions and travel agencies offer to the customers
Some of the forex card benefits are:
1) They are cheaper than exchanging currency. Even banks enjoy the perk of supplying a forex card as the customers receive better conversion rate
2) In this case, you need not share a great rapport with the bank. You can choose from an array of forex cards as per your suitability
3) They are safer than carrying hard-cash. These cards come with inbuilt pin and chip. Forex cards are also not connected with your bank account. So, it is a secured means of finance as well
4) One of the important forex card benefits is that if the card gets stolen, you can use the extra card given to you by the bank via the kit. However, you first have to file a report of theft post which you can use the spare card
5) Forex cards are universally accepted and recognised
6) You can block the card as you return from your trip. You can then unlock it when you travel to another country. This is done free of cost
7) You have dedicated customer care assistance in case of any query
When applying for forex card online or offline, you have to have the following documents handy:
1) Application form
2) Passport original as well as a copy
3) Visa copy (if you are travelling to many countries)
4) Copy of the air ticket
5) PAN card
A forex card is a boon for travellers who are looking for a fitting and secure way of making payments abroad.
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