Multicurrency forex Cards: Know 5 key Benefits for Travellers

by Puja Gupta Blogger

A Forex Card is your best bet when traveling abroad, it is the easiest way to carry foreign currency on your business or leisure trip. Forex Card is a prepaid travel card that can be used to pay for expenses and be loaded with any foreign currency of your choice. It can be used like a debit card or credit card, either to pay for your expenses in local currency or withdraw local currency from an ATM.

The banks issue a wide range of forex cards that provides the solution to different monetary needs when traveling abroad. With a Forex Card in your pockets, it negates the necessity to carry cash to other countries. Making it one of the safest ways to carry money on any international travels. Easily pay the transportation costs, restaurant bills and shopping etc with a swipe or a wave of your magic Forex Card. There are two types of Forex Card- Multicurrency Forex plus Card and a Single currency card.

Here are a few advantages of carrying a forex card when traveling abroad.

Multicurrency Travel Card: It is a card that is loaded with all the major foreign currencies that enable any traveler to enjoy a comfortable and convenient experience of international travel across the globe. US Dollar, Euro, Australian Dollar, Japanese Yen, or Pound are a few of the currencies that can be supported internationally at ATM’s.

Safe & Secure: The common issue that people go through while traveling abroad is the chance of getting cheated for not being aware of the services a Forex Card offers. It safeguards the interest of the travelers from such deception. It is unsafe to carry a bulk amount of cash and can turn out to be risky as it can be stolen. However, the Forex card is a much safer option.

No extra charges: Forex Card is loaded with the native currency of the respective nation, hence the variation or dynamic currency conversion will not be applicable. In case of withdrawal from credit/debit card, the traveler will have to pay an additional charge for currency conversion (barring the flat fee) while in case of Forex Prepaid Card the charge is restricted to only a flat fee.

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Source: https://www.sooperarticles.com/finance-articles/how-does-forex-card-work-1704691.html