Best Forex Card For International Travel

If you are obtaining a forex card for the first time, the card is issued instantly at our partnered forex outlet. Loading funds usually takes 2-4 hours after submitting the required documents and payment. Providers like ExTravelMoney can process requests quickly if all documentation, payment terms and compliance requirements are met.

If requested outside regular hours or on holidays, the delivery and loading might get delayed until the next working day.

A zero cross-currency charge card, or zero forex card, allows users to make purchases in foreign currencies without incurring extra charges.

A chip card, also known as an EMV or smart card, is a payment card that contains a microchip embedded on the front of the card. The chip stores data on integrated circuits and transmits payment data to the card reader during a transaction.

Contactless payment is a secure method of payment where you can make transactions by simply tapping or waving your card near a contactless-enabled point-of-sale (POS) terminal. It uses NFC (Near Field Communication) technology to process payments without needing to insert the card or enter a PIN for small transactions (limits vary by country).

PIN protection in a Forex Card is a security feature that requires the user to enter a Personal Identification Number (PIN) for transactions at ATMs or point-of-sale (POS) terminals. It ensures that only the cardholder can access the funds loaded onto the card. Make sure to keep your PIN confidential and avoid sharing it with others for added safety. You can typically change your PIN through the card issuer's online portal or mobile app. This feature will reduce the risk of fraudulent transactions.

The Allpoint ATM network is a surcharge-free network of ATMs that allows participating banks, credit unions, and prepaid card providers to offer their cardholders access to cash without a fee. Allpoint ATMs are located in over 55,000 locations in the United States, Canada, Mexico, Puerto Rico, United Kingdom, and Australia.

Look up AllPoint’s ATM network at www.allpointnetwork.com

A POS (Point of Sale) point/terminal for a card is a location where a customer can use a debit or credit card to make a purchase. POS machines are used in many retail and business establishments to accept payments from their customers. This feature is especially useful for saving time and minimizing physical contact, making it ideal for everyday purchases and travel.

A hold on a forex card is a temporary blocking of a certain amount of money on the card, which is also known as a pre-authorization. This happens when a merchant, like a hotel or car rental company, requests a hold on the card to secure payment for a reservation. A pre-authorization is not a charge, and no funds are debited from the cardholder's account. The cardholder can use the card to pay the final bill at the time of check-out. It may take 7-28 days to release/return these funds to your forex card balance.

They both provide the infrastructure for processing transactions, but the terms, benefits, and rewards are typically determined by the issuing banks. Acceptance Visa and Mastercard cards are accepted in over 200 countries and territories, making them equally reliable for a safe international trip.

Some merchants abroad may give you the option of billing you in Indian Rupees (INR) instead of the local currency. While billing in INR may seem convenient, you get charged an additional fee for it. We recommend that you always pay for your purchases abroad in the local currency of the country you’re in to avoid that extra charge. For ATM transactions, always select the local currency to avoid a DCC transaction and the extra charge that comes with it. By default this option is blocked or not activated for certain forex card issuers.

Here is how you can buy a forex card online in India.

• Go to the link ExTravelMoney - Forex Card and select the foreign currency and its amount you want to load in the card.
• Enter your location. You’ll be shown a list of forex stores near you along with their exchange rate. Select the one offering the best exchange rate.
• Enter your phone number and email address, so that we can verify your order via OTP.
• Once your order is confirmed, you’ll receive the forex store details like their bank account information and store address. Using this information, the payment can be made through online banking or as cash by directly going to the store.

Once payment is made, you can pick up the forex card from the store or it’ll be delivered to your address if you have chosen door delivery option.

Forex cards have some advantages over cash

• Forex cards have better exchange rates compared to cash. For the same amount of money, you can buy more foreign currency in forex card than as foreign currency in hand.
• Forex cards are safer compared to cash. Nowadays forex cards come enabled with chip and pin technology and hence provide more safety features. Cash is only safe as we keep it. It’s entirely dependent on how safely we handle it. Plus, travellers carrying an excess of cash in their wallets are very easy targets for thieves abroad.
• In case of theft or loss of your forex card, you can have the card blocked and also transfer the funds to your new replacement card. This replacement card is usually given as a backup along with your forex card kit. In case of theft of cash, there is no protection for your stolen money. It’s as good as gone. This is one of the biggest disadvantages of cash.
• When you are travelling to many countries, forex cards allow you to load multiple currencies in them. When you are abroad and transacting with your forex card, it automatically detects which country you are in and pays using the preloaded local currency. Whereas, to carry different currencies as cash and making sure they don’t mix up and to pick out the correct currency, is a big hassle. That is something travellers can do without.

To know more read about the Comparison of Forex Cards vs Cash, Debit & Credit Card .

If you are obtaining a forex card for the first time, the card is issued instantly at our partnered forex outlet. Loading funds usually takes 2-4 hours after submitting the required documents and payment. Providers like ExTravelMoney can process requests quickly if all documentation, payment terms and compliance requirements are met.

If requested outside regular hours or on holidays, the delivery and loading might get delayed until the next working day.

Forex cards offer a wide variety of benefits for travellers and students going abroad ;

• Forex Cards offer better exchange rates for loading currencies than buying foreign currency as cash.
• Forex Cards are loaded with foreign currency at locked-in exchange rates. Thus they are immune to the fluctuation of currency value in the forex market.
• Forex cards are more secure than carrying cash as they come enabled with chip and pin technology for safeguarding the money in them.
• Forex Cards can be used to carry multiple foreign currencies at the same time in a single card.
• Forex Cards have no additional charges when swiping at PoS counters abroad, unlike Debit and Credit Cards.
• Forex Cards have no Dynamic Currency Conversion Fee when used abroad since they are already loaded with the local currency of that foreign country.
• Forex Cards are universally recognized and accepted, unlike Traveller’s Cheque which has become an outdated payment instrument.

To know more, read The advantages of Forex Card and its benefits for travellers .

You can easily transfer money from your forex card to your Indian bank account. Simply head to your bank branch, request transfer of funds from your forex card to bank account.

If you have a different forex card which is not of your bank’s then what you can do is encash the funds in your forex card by approaching the bank/forex vendor from whom you bought the card. Once you encash the foreign currency in the card and get back equivalent Indian rupee, you can deposit that amount in your bank account.

However, if you are abroad, say in the US and have a forex card loaded with US dollars, then you can directly transfer the money in the card to your local bank account in the US for a small fee. All you would need is to approach your local bank in the US with ;

• Your forex card
• Local bank card (debit) or account information
• Passport

These are the ways you can transfer money from your forex card to your bank account.

Forex cards cannot be used in India at ATMs or for swiping at PoS counters. They have a specific purpose, which is for use abroad. However, you may be able to use forex cards in India for online payments that have to be paid in foreign currencies.

Also, they cannot be used in Nepal and Bhutan.

Withdrawing money from a forex card is very easy. It’s just like the way you withdraw money from your debit card.

When you are abroad, go to an ATM, swipe your card there, enter the amount of currency you want to withdraw, and collect the money from the ATM machine.

When you are in India and want to withdraw money from your forex card, go to the vendor who issued the card and encash the funds in your card. You’ll receive the equivalent Indian rupee back.

When you are buying a forex card from us, reloading it is very easy. Simply visit ExTravelMoney’s online portal and select the reload forex card option to complete the entire procedure online, even when you are in the midst of your travels abroad.

If you are in India and want to reload your forex card, you also have the additional option of reloading the forex card by directly going to the vendor store from where you purchased the card.

Yes, forex cards can be used for online transactions where the payment has to be made in foreign currency. The card does not function in India at ATMs, PoS counters, or in Indian e-commerce websites where the payment has to be made in Indian rupees.

Forex card is not a debit card. But it can be said to perform almost the same functions as your bank debit card. The exception is that a forex card is meant to be specifically used abroad.

Forex cards are pre-loaded with the foreign currency of the country you are traveling to. The forex card is not linked to your bank account, and the funds in the forex card are not part of the funds in your bank account.

No, forex cards cannot be used as a credit card. A credit card, as the name suggests, is a card that allows the user to purchase goods through it on the basis of credit given by the card company.

However, a forex card is somewhat opposite of a credit card. Funds are loaded into it beforehand itself by the user. The user of a forex card can only use the funds available in the card and no more. They won’t get any credit from the forex card issuer.

A multi-currency forex card is a prepaid travel card that allows the user to load multiple foreign currencies in one single forex card. Depending on the country you are in, the card will automatically choose the correct currency and make payments accordingly at PoS machines or withdraw the correct currency when using ATMs.

A multi-currency forex card is very useful when you are planning to visit multiple foreign countries in a single vacation or are planning to visit multiple foreign countries within a span of 5 years (maximum validity of most forex cards is 5 years).

Depending on the card issuer, one or multiple foreign currencies can be loaded in a forex card.

At ExTravelMoney, we offer forex cards with at least 16 currencies in them!

• 1. US Dollar
• 9. Swedish Kronor
• 2. Euro
• 10. UAE Dirham
• 3. British Pound
• 11. Saudi Riyal
• 4. Australian Dollar
• 12. Thai Baht
• 5. Canadian Dollar
• 13. New Zealand Dollar
• 6. Swiss Franc
• 14. Hong Kong Dollar
• 7. Japanese Yen
• 15. South African Rand
• 8. Singapore Dollar
• 16. Danish Krone

Forex cards usually come along with their own net banking facilities. You would have a username and password through which you can log in to your forex card net banking application and check the balance.

When you purchase a forex card, these facilities would be explained to you by the card issuer, and you would get an envelope with the forex card and your login details.

There are a few additional charges in a forex card. They are:

• Forex card encashment/surrendering charges

When you are encashing a forex card, a charge is levied on you. Usually, this is very low, around Rs 100. However, at ExTravelMoney, most of our forex cards can be encashed free of charge!

• Forex card reloading charges

Many banks and money changers charge a fee for reloading a forex card. Again, this is usually around Rs. 100, and again, ExTravelMoney offers customers free card reloads for forex cards purchased through us.

• Forex card ATM withdrawal charges

Many forex cards have a fixed ATM withdrawal fee of US$ 2 or its equivalent per ATM usage for funds withdrawal. For checking balance, this is usually around US$ 0.5 or its equivalent.

ExTravelMoney offers ATM cards that have the first 3 foreign ATM withdrawals free of charge. After the first 3 ATM withdrawals, a fixed fee of US$2 for ATM withdrawal and US$0.5 for checking balance at ATMs abroad will be applicable.

A zero cross-currency charge card, or zero forex card, allows users to make purchases in foreign currencies without incurring extra charges.

The KYC documents required to purchase a forex card are:

• Indian Passport
• Confirmed Air Ticket showing travel within 60 days
• PAN Card
• Valid Visa (Mandatory for some countries)

After placing your buy forex card order, our customer support team will update the order status via email, SMS, and directly through a phone call if needed.

These timely updates will let you know if your forex card is ready to be picked up from the store or out for delivery to your address (if you have chosen door delivery option).

The minimum amount of foreign currency to be loaded in a forex card, through ExTravelMoney, is USD 50 or its equivalent in other foreign currencies.

The maximum amount of foreign currency that can be loaded in a forex card is USD 2,50,000 or its equivalent in other foreign currencies.

Please Note: This forex card limit of USD 2,50,000 is part of the forex limit given to a resident individual in a single financial year as per the Liberalized Remittance Scheme (LRS) of RBI.

In case of loss or theft of the card, travellers can simply block the card by contacting the card issuer. This can either be done by the 24*7 Phone Banking or Prepaid Net Banking facility provided along with a forex card. Then, the replacement secondary card, which is usually present along with your original Forex card kit, can be enabled and would be ready for use abroad.

It is not necessary to surrender the backup amount in your forex card after returning to India from a trip abroad. The funds can be held indefinitely. However, sometimes an inactivity fee may be charged by the card issuing agency. Also, the validity of most forex cards is up to 5 years. So, you must encash any leftover foreign currency before the end of this 5-year period, or that money will be lost from your card.

If you forget your forex card PIN, you can get in touch with your card provider through the toll-free number provided on your card. That way, you’ll be able to regenerate the PIN.

For enhanced security features, all major forex cards available through ExTravelMoney.com are chip-based cards. These cards are more secure than forex cards just using magnetic strips. However, some merchants still use card machines that only have swipe facilities. Considering that, the forex cards also come equipped with a magnetic strip that can be used at such PoS terminals.