Why is an international credit card important for overseas travels?
Multi-currency forex or international travel card is a pre-loaded car that allows you to carry foreign currency on your travels abroad. It allows you to load it with multiple foreign currencies at once and travel the world without any hassles. The number of foreign currencies you can load varies across forex card issuers. It is similar to your credit card. You can use it to make foreign transactions, withdraw cash from any selected ATMs check your balance, etc.
So, how does an international travel card work?
When you purchase forex or international travel card from a bank, it is loaded with funds. You can load your forex card with multiple foreign currencies, such as USD, AED, CAD, AUD, CHF, EUR, GBP, JPY, SGD, etc. It is accepted worldwide and can be used to make payments or withdraws on your travels abroad.
Crucial features of a forex card
Forex or international travel card is the best replacement for cash. It enables you to carry foreign currency on your travels abroad without worrying about cash misplacement or theft. Here are the crucial features of a forex card:
● It comes protected with a chip and PIN.
● It is not linked to your bank account, so any chance of fraud is out of the question.
● You can easily replace your forex card if you lose it on the go.
● You can load and reload your forex card with multiple foreign currencies at anytime from anywhere.
Importance of having an international travel card
● The best part about an international travel card is that you can load it with multiple currencies. Depending on your forex card issuer, you can load up to 20 foreign currencies at once. The best part is that you can travel to multiple countries without worrying about cross-currency conversions.
● The foreign exchange rates are decided at the time of loading your forex card. It means that you are protected against foreign currency fluctuations throughout your journey in a foreign country.
● It enables you to make payments for hotels, airlines, restaurants, stores, and petrol pumps at no extra charge.
● You have the luxury of withdrawing cash from any selected ATMs without worrying about currency conversion. However, you will have to incur a flat withdrawal fee.
● It enables you to get instant SMS alerts on every transaction you make with your international travel card.
● Upon returning to India, you easily encash the balance amount. You will have to submit a request to your forex card issuer.
In short
Getting forex or an international travel card is the best option for carrying foreign currencies abroad. It is safer than carrying liquid cash and easier to use than traveler’s cheques.