123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

The Best Prepaid Forex Cards In India For International Travel

Profile Picture
By Author: Neha Sharma
Total Articles: 170
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

A foreign exchange card, also known as forex card is used as a form of payment method when travelling abroad. This card is pre-loaded with funds that allow you to access money in the local currency of the country you are travelling in. You can reload the card, as much as you need, during your travelling. In this article, we give you the reasons why the prepaid forex cards are the best for international travel.

• Internationally accepted system

These cards are accepted all over the world. As they have the ability to pack multiple currencies onto a single card, including more features like remote top – up and e- commerce capability, it provides an easy financial convenience when travelling globally. Not only is it beneficial to the consumers who are using this card, sellers and merchants also benefit from this, as they can serve a lot more clients that they otherwise can. It also has the safety feature of the normal banking cards. So, if you lose this card, you can always lock it, and ask for a replacement.

• Exchange rate not affected

Forex cards offer its customers a protection against currency ...
... fluctuation volatility. The amount of the funds is loaded onto the card is will be used as per the foreign exchange rate at the moment of transaction. Thus, through the trip, the exchange rate will remain as the MasterCard or the Visa wholesale rate at the time of transaction rather than forex market.

• Cheaper than currency and other cards

If you have international banking cards such as credit card or debit cards, you can use them in the international trips. However, they will charge an extra charge for this service. As these cards carry the local denomination, when you use this card outside the country, you will be charged for the foreign currency and now the local one. Thus you will have to bear the charges for currency conversion which can range from 3 to 5%. This is a drawback when you are involved with high value purchases. The same method works for local currency. In addition to the currency rate conversion, there is different services and charges.

Forex cards in international travelling will increase as the RBI has asked banks to disable other banking cards for international use.Most international travelers have decided to abandon international debit cards and restrict cards to local use.You can pick from ICICI Bank Travel Card, HDFC Bank Forex Card and SBI's VishwaYatra foreign travel card for your travel abroad.


Author Bio :- Neha Sharma; a finance student, loves to write about Forex and Forex Cards. While she has gathered a lot of information regarding it, she hopes that if she shares it, the public can benefit from it.

Total Views: 306Word Count: 457See All articles From Author

Add Comment

Business Articles

1. How Global Trade Finance Facilitates Cross-border Transactions And Reduces Risk
Author: Riddhi Divan

2. Innovative Uses Of Nickel In Cryogenic And Marine Environments
Author: Online fittings

3. Implementing Predictive Analytics In Your Abm Toolkit
Author: SalesMark Global

4. Comparing The Top 5 Live Commerce Platforms For 2024
Author: Amy Williams

5. Data-driven Precision Marketing For Effective Demand Generation
Author: SalesMark Global

6. Supercharge Your Sales With Optimized Pipeline Velocity
Author: SalesMark Global

7. Best Japan Tour Packages
Author: bharathi

8. Adani Group Stocks Down 20%; Gautam Adani Indicted In Us Over Bribery Charges
Author: Bizzbuzz

9. High-performance Ss Round Bars: Addressing The Energy Sector's Needs
Author: Neelkamal Alloys LLP

10. The Role Of Modern Washroom Solutions In Maintaining Cleanliness
Author: ritika krishna

11. Why Choose Premium Taxi Services In Kochi?
Author: maya

12. Black Magic Astrologer In Kasaragod
Author: Sripandith05

13. The Health Benefits Of Adding Pineapple To Your Pancakes
Author: maya

14. Top Luxury Resorts In Kerala For Your Dream Vacation
Author: maya

15. How To Start Your Shopping Website In Doha: A Simple Guide
Author: maya

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: