Skip to main content

Why Forex Cards Are Safer Than Cash


How to carry funds while travelling abroad is a common question asked by travellers! You can read articles comparing Forex card, Cash, Traveller’s Cheque, Credit and Debit card, that provide enough understanding on how currency works on an international trip. Some explain in detail with respect to the cost and some with reference to convenience. But again, however you look at it, a Forex Card is the most convenient and safest way to carry money.
Planning an international trip involves finding the best airline tickets, hotel bookings and places to visit and see. So, a little heed to the benefits of prepaid forex card or multi-currency card may offer much food for thought.

Here are a few reasons why a Forex Card is the most inexpensive way to carry money while travelling abroad.

     1.    Forex Cards offer better exchange rates while loading currencies on your account than buying foreign currency as cash. Providing Forex Cards is the most economical option for banks.
    2.    By default, Forex Cards are loaded with foreign currency at locked-in exchange rates. Thus making it a safe option during fluctuation of currency value in the forex market. If you add 2000 USD in your Forex Card, the value in it will still remain 2000 USD regardless of any inconsistency in INR-USD currency exchange rate.
    3.    Forex cards are enabled with a chip and pin technology to safeguard the money in them. If in case a Forex Card is stolen or lost, it can be blocked at once and the balance in it will be frozen. And once the original is blocked, the secondary Forex Card can be activated and the frozen funds will be transferred to it.
    4.    Forex Cards can be used to carry multiple foreign currencies at the same time, anywhere across the globe. For example, banks such as Axis, issue Forex Cards that allow you to load up to 16 mainstream currencies such.
If you want know more Reasons Why Forex Cards are Safer than Cash, visit source blog.
Source: https://yourexpertguide.wordpress.com/2019/03/14/5-reasons-why-forex-cards-are-safer-than-cash/



Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

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 th...
Post a Comment
Read more

Know How Exchange Rates Work and What Affects Them?

Planning to travel abroad anytime soon? Then, you would definitely need to brush up on forex currency exchange and currency exchange rates. You would need to know how to buy forex and also look up the best money exchange locations . Before that, it helps to understand what international money exchange is all about. Essentially, foreign exchange rate is the amount or value of one currency vis-a-vis the other. What is the worth of one unit of your currency in another country’s unit of currency? So, if your country’s currency is the rupee, and you are travelling to the US, for example, what is the worth of a rupee in relation to the US dollar, and how many rupees would you need to shell out to convert it into one US dollar? That is what you would need to understand when you head out to buy forex. Foreign exchange is also the world market where currencies trade. The US dollar is still considered the dominant currency across the world, and many a time, currency exchan...
Post a Comment
Read more

How Buy Foreign Currency in Cheap Way

Increase in population has made international tourism in India a bright industry. However, Indian travelers have forgotten the crucial aspect of foreign exchange . Here are a few hacks one should consider to ensure  best value for their money, while traveling to other countries on business or leisure. Say no to the counters at airports: The foreign exchange counters at airports provide a premium of 10 to 13% over the usual exchange rates , and this will only reduce the amount of currency one has at their disposal during their trip. A foreign exchange counter at airports is simply waiting to exploit a desperate traveler. So be smart and buy foreign currency 3-7 days before the travel, and stay away from the foreign exchange counters at airports. Compare: Forex rates change on a dynamic scale and some agencies will hardly keep up with these variations. Not understanding the dynamics of forex can make one get a...
Post a Comment
Read more