Everything to know before getting a multi-currency forex card

If you are a frequent traveler, getting a multi-currency forex card must be a priority before leaving the country.

It is an easy, safe, and cashless way to carry foreign currency on your travels abroad.

Compared to a credit card and a debit card, it offers the best exchange rates.As a frequent traveler, you can load your multi-currency forex card with multiple foreign currencies at once and then travel the world without worrying about cross-currency charges or currency conversion charges.

Compared to a traveler’s cheque, it is easier to use and safer than carrying cash.Features of a multi-currency forex card The foreign exchange rates are locked in when you load your forex card, which protects you against currency fluctuation.It enables you to make bookings and payments at hotels, bars, restaurants, stores, airlines, petrol pumps, etc at no extra charge.You can use your forex card to withdraw cash from any international ATM without incurring currency conversion charges.

However, you may have to bear a flat withdrawal fee on every transaction you make.While loading your forex card, you can avail best exchange rateYou do not need to stand in long queues to buy or exchange currency.Receive instant SMS alerts to track your spending and balance.Get a forex card replacement after losing your card in a foreign country.Opt for easy encashment after returning to India.Things to know before buying a multi-currency forex cardIt is imperative to know the following things before buying a prepaid foreign travel card for your travels abroad:Purchase your multi-currency forex card well in advanceWhen you apply for a multi-currency forex card, it takes about 48 to 96 hours to reach your location domestically.

This way, you will have ample time to receive your forex card, activate it, and resolve any issues that might arise within a day or two of receiving it.Choose your forex card providerBanks and non-banking forex organizations offer forex cards to travelers.