Travelling is among the important aspects of our life. The increase in spending capacity has enabled us to spend more on travelling. Be it for leisure or business, having a multicurrency forex card can benefit you if you travel to different countries often. Besides planning several other things, considering foreign transactions is important.
Previously, a traveller’s cheque would suffice but with technological advancements came new services that made your international transactions secure and convenient. Yes, we are referring to the multicurrency forex card.
What Is a Multicurrency Forex Card?
A multicurrency forex card has become the go-to option to safely and securely carry money overseas. Similar to a debit or credit card, a forex card can be used for paying international expenses in their local currency. You can preload the forex card with money and use it in multiple foreign countries.
Main Features of a Multicurrency Forex Card
The following are the main features offered by a multicurrency forex card:
1. Ease of use
If you are carrying physical cash when travelling internationally, you have to carry different currencies and undergo mental stress of keeping a track of your expenses. The Multicurrency Forex Card streamlines all your payments and minimises hassles when travelling. Just swipe your debit or credit card to make your purchases.
2. Most cost-efficient
In most of the cases, a multicurrency forex card will produce better exchange rates compared to cash or traveller’s checks (TC). With cheaper transaction charges than overseas debit or credit cards, you can also access perks like waived ATM access fees, no cross-currency fees, and various special offers.
3. Locked-in rates
You can be susceptible to changing exchange rates if you take out foreign money in cash. But, once you put money onto a multicurrency forex card, the exchange rate is fixed from that point onward.
Conclusion
For those who travel to various countries, IndusInd Bank has created a specific IndusForex multicurrency forex card. Using this card, you may load multiple currencies into a single card by the owner. The multicurrency forex card also provides better insurance protection, access to emergency services, round-the-clock customer service, discounts at merchant locations, and much more.