Travel Money

If you have travel plans to have fun in foreign destinations, then it is extremely important to have foreign currency in your hand, otherwise you will have a tough time even surviving abroad. It is possible to make purchases with a debit or a credit card, but there is a risk of getting your money wasted on foreign fees. One solution to this problem is by getting hard cash through the means of foreign currency exchange . There are many ways how you can save when doing foreign currency exchange . Some of them are by avoiding currency exchange at airports, by avoiding withdrawal of currency, and by buying currency online. Ways to Save When Exchanging Foreign Currency: ·       One of the best ways to save when exchanging foreign currency is by avoiding exchange at airports. If you have not ordered cash online, then it is better to make last minute withdrawals from a local bank or money exchange stores near you in your hom...

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 Card...

Are you excited and counting down the days to your next vacation? Regardless of how thrilled you are to take your next trip, it’s always crucial that you buy forex and plan wisely. After all, nothing can ruin your vacation faster than losing your bankroll. That’s right, after working throughout the year, you deserve to take a few days off to relax and unwind. But when travelling abroad, it’s important that you choose the best multi-currency forex card , plan well and remember to take plenty of precautions. If you’re careless with your wallet, someone could swipe your money from under your nose. Here are a few simple ways to keep your money safe while travelling. Limit Cash and use a credit card: Many use credit cards as a primary method of payment on vacation, which can be risky, as there may be a temptation to overspend. But by using cash you can save more money and stick to a specific budget, as it compels you to spend within a certain range. But on t...

Finding foreign currency or money exchange locations is simple and easy but choosing the right method could save you a ton of cash. It is no surprise to learn that there are many hidden fees when exchanging money and what used to be a convenient way to get cash is no longer widely used and accepted. Here are the best currency exchange options for travelers. 1. Credit cards: Credit cards are a must these days either to book a hotel room or make large purchases. Whenever you make a purchase in a foreign currency credit card providers charge more than ATMs by adding 2.5 – 3% on top of the spot rate.  If you have a travel rewards credit card you get extra benefits that can save you a ton of money. Most of these cards include travel medical insurance and lost/delayed baggage insurance. With any insurance policy, read the T&C print to find out exactly what you’re covered for. Or use a multi-currency forex card for all your payment needs. Once the foreign e...

Over the past few years, the value of Indian rupee has been plummeting fast against the US dollar. And the falling value of a rupee means less export/import power in the hands of people as well as the government. Which in turn makes the nation financially weaker, hampering the prospects of international trade and currency exchange rates. Here are a few factors that change the dynamics of the Indian economy. Crude oil: With the fast development and growth of the Indian economy, the demand for petrol and petroleum products has been consistently rising. India produces about 20% crude oil we require, and the rest is imported from Saudi Arabia, Iran, and other Gulf countries. Reputed oil companies of India require millions of dollars every day in order to import crude oil and gas. Thus, the increase in the demand for the dollar leads to its appreciation and decrease in the value of the Indian rupees. Trade Tensions: The policies of the US President have had...

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...

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...