Skip to main content

What Are The Best Travel Money Options?


So, you are heading on a foreign trip and wondering what your travel money options are. Should you get a forex card, an ICICI bank travel card or just get enough foreign cash via currency exchange? Should you opt for debit/credit cards or travellers’ cheques? So many questions keep going round in your head, and the whole thing can be quite daunting right? Not really, if you do some homework. Ideally, you should keep some spare cash but also get one of the forex cards for the bigger expenses. How about a HDFC forex card or an Axis bank forex card? You could pick one of them.
A combination of various options is a good way to carry your money. First, let’s look at forex cards.
Foreign exchange cards
  • You can use your card to buy stuff at a mall or a market, spend on tickets, pay for your food at restaurants or order food/buy online.
  • You can get in touch with your bank in your home country and load currency on to the card; this could be any of the banks. The popular ones are HDFC bank forex card, Axis bank forex card or ICICI bank travel card.
  • Once the foreign exchange card is loaded, you can swipe it in the country you are travelling. These cards are visa/mastercards and can easily be topped up. You can also opt for sms or email notifications so you know your transaction history and can be alert to any kind of misuse.
  • Most forex cards also come with some insurance cover in case of theft, assault or misuse.
  • Also, you can load the card with multiple currencies if you are visiting more than one country.
  • Forex cards are less expensive than debit or credit card use abroad. What’s more, they are accepted everywhere. The exchange rate is also better than what you get if you were to exchange cash.
Carry some cash
Having said this, you can also carry some cash for miscellaneous payments because it is quicker and does not involve looking for an ATM etc. But you should not carry a lot of cash in one place. 

To read complete post “What Are The Best Travel Money Options?”, visit source blog.
Source: https://yourexpertguide.wordpress.com/2018/04/26/what-are-the-best-travel-money-options/


Labels:

Comments

Post a Comment

Popular posts from this blog

How Currency Swings Can Affect Your Holiday Costs?

Rise and fall, variation or shift in the floating exchange rate system is a norm in the case of most major economies. The currency’s value goes hand in hand in accordance with the foreign-exchange market. International money exchange rates are affected by numerous factors that are usually in a state of perpetual flux. These include interest rate differentials, economic performance, supply and demand of the two currencies, and inflation. If you run a travel business, you’ll directly be impacted by fluctuating currency rates. The relative strength, or lack thereof, of the dollar against other major currencies will dictate your business traffic. Travel Trends: A Lot of people travel for leisure than for business. Travel, just like any other activity, experiences trends that tend to develop based on various forces. Unsurprisingly, trends can be set by the media. Specifically, travel media may establish some trends based on tourism surveys and other professional r...
Post a Comment
Read more

Benefits of Using a Travel Money Card Over Using Your Own Credit Card

Planning to travel overseas, and wondering what’s a better option, your credit card or a travel money card? You don’t have to keep rushing to money exchange locations for every transaction when you are abroad; instead carry a multi-currency forex card, especially if you are travelling to multiple countries, within Europe, for example. The options are plenty; you could carry a HDFC bank forex card, an ICICI bank forex card or an Axis bank multi-currency card. You don’t have to constantly worry about money exchange , and instead carry a small amount of foreign exchange from India. Read on for more on the benefits of using a travel money card over your credit card. One of the biggest benefits is that by getting a forex/travel card you are safe from the fluctuations in the currency value; the value of currency you are loading on that specific day will remain the same throughout your trip. This means you don’t have to constantly fret over changing...
Post a Comment
Read more

Rbi Guidelines for Foreign Exchange

People travel all around the world and when they land up in a foreign country they require that particular country’s currency in order to buy goods and services. Here foreign exchange comes into the picture, which helps you in exchanging the currency of one country into that of another. The largest and the most liquid financial market in the world is the foreign exchange. Here are some international currency exchange guidelines that are to be followed in India. When going on a leisure trip abroad, the maximum amount of foreign currency that can be taken is USD 25,00,00 per traveller in a single financial year. Out of that, only $3000 can be carried as cash. The remaining balance should be carried around as traveller’s cheques, forex cards and remittances. But when on a trip to Nepal or Bhutan for any purpose, no forex currency exchange will be available. When going on a leisure trip abroad, the maximum amount of foreign currency that can be taken is USD 25,00,00 per t...
Post a Comment
Read more