Forex travel cards are an underrated forex tool that can simplify your international travel in an extraordinary way. This blog is for the savvy traveller who has already made the smartest choice for their trip and is now ready to find the best one on the market. So let’s explore how to choose the best forex card for your upcoming international travel.
Also Read: Comparison of Forex Card vs Credit Card, Debit Card, and Cash
Factors for Travellers to Consider While Choosing a Forex Card
1. One or Multi-Currency Forex Card
As the name implies, you can only load a single foreign currency in a one-currency forex card and add multiple currencies in a multi-currency forex card. The choice between these two cards is entirely based on the number of travel destinations you plan to visit. Choosing the right forex card type saves you from the trouble of carrying multiple cards or currencies.
2. Range of Global Currencies Available
Whether it’s a one-currency or a multi-currency forex card, the availability of your desired currency is a crucial factor. Exotic currencies are rarely loadable in forex cards, so the next option is to load a one-currency card with US Dollars. The loaded US Dollars are then converted into the required currency spontaneously on the transaction abroad without any cross-conversion fee.
3. Exchange Rate
Even though forex cards protect you from exchange rate fluctuations while travelling, keep an eye on the exchange rate charged by the forex card issuer while loading currency. Card issuers charge a forex markup or currency conversion fees. Refer to the interbank rates, which is the average exchange rates, to verify whether the exchange rate fixed by your card issuer is too high.
4. Fees
Forex cards incur a few charges to look for, but always less than using credit or debit cards abroad. Moreover, not all the fees are charged by card issuers, so always look for cards with fewer charges.
These can include fees such as issuance fees on your initial currency loading, ATM charges per withdrawal, cross-currency conversion fee on swiping in a currency that is not loaded in your forex card, reload fees on adding additional amount onto your card, and encashment fee on withdrawal the balance currency from the forex card as Indian Rupees on arrival after your trip.
5. Security Features
Forex cards should come with robust security features such as an EMV chip, PIN protection, and 24/7 fraud monitoring. This ensures that your funds are secure even if the card is lost or stolen, offering peace of mind while travelling.
6. Complimentary benefits
Some forex cards offer complimentary perks like access to airport lounges, travel insurance, a free international SIM card or gift vouchers that can enhance your travel experience. So don’t miss the chance to grab them.
7. App and Emergency Assistance
Many forex cards come with a mobile app to manage your card balance, track expenses, and reload funds easily. Emergency assistance, such as blocking a lost card or receiving emergency cash, will also be available in the app to ensure you’re always supported while abroad.
8. Issuance Time Taken
Typically, it takes around a few hours to even a week to complete your documentation and receive a forex card after application. So it is always good to apply well in advance of your trip to avoid any last-minute rush.
9. Customer Support
Ensure the forex card provider offers round-the-clock customer support, both locally and internationally, whether it is an issue with your card, currency loading, encashment or if you need assistance during your travels.
10. Global Acceptance
Ensure that the forex card is widely accepted at international merchant locations, including hotels, restaurants, and retail outlets. Cards supported by global networks like Visa or Mastercard are accepted worldwide.
Smartest Way to Buy a Forex Card – ExTravelMoney
Evaluating all these factors for each forex card in the Indian forex market can be time-consuming and mentally draining.
So here is ExTravelMoney, an online forex aggregator, that simplifies this process by creating a marketplace where we compare the best forex card issuers available near you and make it simple for you. By evaluating offers and exchange rates, ExTravelMoney finds the ideal forex card tailored to your travel plans, ensuring you get the best value for your money.
Apart from the competitive exchange rates, there are a lot more benefits to explore:
- Availability of Diverse Card Types and Currencies: Buy VISA and MasterCard multi-currency and one-currency forex cards in 12+ global foreign currencies.
- Same-Day Issuance: Cards will be issued after a quick online payment and document verification. You can collect it on the same day from the chosen store near you or have it delivered to your doorstep.
- Zero Fee: We charge no issuance fee, loading, reloading & unloading fee.
- Wide Acceptance: We provide you with Visa and MasterCard forex cards from India’s leading forex card issuer companies, including Thomas Cook. They are accepted at 70 million POS and ATMs worldwide.
- Easy Reload and Unload Process: Do it from anywhere around the world with one call or message to our customer service.
- Mobile App: All the forex card issuers partnered have an online portal to track transactions.
- Forex Experts One Click Away: Whether it is for forex card booking, reloading, encashment, or whatever you need, our customer care executives are available to answer your calls and messages.
Now that you know what to look for, don’t waste any time! Head over to ExTravelMoney to find the best forex card at unbeatable rates, and start your trip with the ultimate financial partner in your pocket.
Also Read: How to Use Forex Card – A to Z Guide for Indian Travellers
Ann Mariya Job is the Associate Content Writer at ExTravelMoney.com. Holding a Bachelor’s in Journalism, she excels in creating deeply researched, engaging, and crisp content. Her work helps readers understand the complexities of foreign exchange, overseas money transfers, and international travel.