Travel Money

When travelling abroad, it is necessary to carry the currency of the country that you plan on vacationing in. Some of the ways how you can spend your money abroad is by using an international debit card or a forex card. Using a forex card is more advantageous than using an international debit card. Here are the few differences between a forex card and an international debit card. If you use a forex card, you will be able to carry 16 currencies in just one card, whereas if you use an international debit card, then you can use only one currency and that is Indian. The issuance fee that you need to pay to get an international debit card would be up to Rs. 500, but the issuance fee that you will have to pay to get a forex card would be anywhere between Rs. 100 to 350. If you are planning to buy a forex card online, then it is free. The merchant service fee for an international debit card 3.5 percent, but it is NIL for a forex card. The deduction or annual fee on exp...

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...