The holiday season is here and many of you must be packing your bags for a foreign tour with your loved ones. With changing times our banking needs have upgraded to another level. With almost every country going cashless, having a prepaid forex card is a blessing. This card is the best way to buy foreign currency while travelling abroad. Here are some of the benefits that make this cashless option so favourable for everybody who is planning a vacation.
– Accepted Everywhere: This card is accepted almost everywhere and you will never have any trouble finding a counter that takes this card for foreign currency. It is a feasible option if you have set out on a Euro trip, as you will save a lot of cross country currency exchange cost. Who would want to pay extra while travelling from one country to another?
– Reasonable over Credit/Debit Card: The prepaid forex card is a much cheaper option than a credit/debit card. If you decide to use your credit or debit card in a foreign country, you will be charged with a cross-currency mark-up for every transaction, which can range from 3-5%. Whereas, the forex card already carries foreign currency and it saves on all those extra mark-up costs.
– Safe and Secure: A card is always easier to carry than bundles of cash. And various companies also provide a secondary card along with the original forex card, which can be activated by placing a request on a toll free number when you lose the original one. The forex card can also be hot listed when lost just like your credit or debit card.
– Why Buy Currency: Why should one buy currency when it is more cost effective to buy a prepaid card. One should always opt for a prepaid forex card rather than buying cash and tediously carrying it along.
– Shielded from Currency Fluctuations: The prepaid card is always unaffected by any kind of currency fluctuations. It is because the amount loaded in the card is valued on the exchange rate of the day of the transaction, which remains unchanged.It is a win-win situation for you as no amount of currency hike or fall will affect the money already stocked on your prepaid card.
These are some of the benefits of the prepaid card while travelling abroad. You can plan your trip ease when you have the forex card handy. It is absolutely hassle-free and loaded with advantages. There are several banks like HDFC, ICICI, Axis, SBI and more offers a variety of prepaid cards to make your international trip a joyful one.