Forex cards are, undoubtedly, the most convenient and cost-effective technique of carrying foreign currency. You do not have to be the customer of a bank to purchase a forex card. Simply visit a bank branch with cash and purchase a forex card for the forex exchange currency you want equal to its value in Indian Rupee. What is more, you can load more than one currency and use the same card for all your tours.
Understand the fees and chargesThere are numerous fees and charges related with these cards like:
At the time of getting a forex card at best forex card rates, you should ask your bank about these charges to make sure that you do not wind up paying more by using it. If you think the charges are too high, contemplate going to a different bank. When you are swiping your forex card at a merchant outlet, ensure that the payment is made in the same currency as you have laden. For instance, if you have loaded your card with US Dollars but the imbursement is made in Indian Rupee, then you will incur momentous cross currency charges. Also, when you are using your travel card at an ATM, choose the credit card option as there would be no option for forex card. It is not prudent to carry just forex cards for your intercontinental travel. You should also carry some forex exchange cash anywhere you are going. Indian currency is not extensively accepted across countries so it is safer to carry some cash to support you in case of emergency. Plan your expenditures in a way that 80% is expended via forex card and 20% flows out in the form of cash.
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AuthorForex cards are loaded with foreign currency at locked-in exchange rates. Forex cards are tremendously convenient and manageable for overseas trip. Archives
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