How to Get the Best Foreign Exchange Deal When Planning a Trip

Posted on Tuesday, March 26th, 2024 | By IndusInd Bank

Travelling is a lot more than sightseeing and marking your visit at notable landmarks. It is about unfolding new experiences that create lasting memories. As you gear up for exciting adventures on your forthcoming international journey, there are a host of details you must finalise – flight tickets, visa approvals, accommodation, itinerary, and obtaining the local currency.

However, the excitement of planning an international trip often overshadows the importance of securing the best foreign exchange deals. Fluctuating exchange rates can further make it difficult to get a good deal without stretching your budget.

This is why most discerning travellers turn to forex cards. These convenient cards are not only cost-effective, but also make your travel hassle-free by eliminating the need to carry a large volume of physical cash.

What is a Forex Card?

A forex card is a prepaid travel card specifically for international travel, offering a safe and cashless way to carry foreign currency. Typically issued by banks and financial institutions, these cards can be loaded with the desired amount and used to make payments just like a regular credit or debit card.

The most significant advantage of a forex card is that the exchange rate is locked at the time of loading the card, shielding you against exchange rate fluctuations.

Most leading banks offer multicurrency forex cards, allowing you to load more than one currency in the same card. For example, new-age banks like IndusInd Bank, allow you to load up to 14 major currencies in a single card. These include:

• United States Dollar (USD)
• Euro (EUR)
• Great Britain Pound (GBP)
• Australian Dollar (AUD)
• Canadian Dollar (CAD)
• Arab Emirates Dirham (AED)
• Swiss Franc (CHF)
• Hong Kong Dollar (HKD)
• Japanese Yen (JPY)
• New Zealand Dollar (NZD)
• Saudi Riyal (SAR)
• Singapore Dollar (SGD)
• South African Rand (ZAR)
• Thai Baht (THB)

Features and Benefits of IndusInd Bank’s Multicurrency Forex Card

IndusInd Bank’s multicurrency forex cards are packed with attractive features and benefits, making them a popular choice among travellers. Key benefits include:

Convenience

Make seamless international payments to hotels, restaurants, airlines, stores, and petrol pumps at no extra charge with the Indus Multicurrency Forex Card. Load up to 14 currencies, avoid exchange rate fluctuations, and withdraw cash from any VISA-enabled ATM worldwide for a hassle-free travel experience. With IndusInd Bank’s forex card, you can also receive instant transaction alerts plus enjoy easy encashment upon your return to India.

Purchase and Loading

Travellers can easily get the Indus Multicurrency Forex Card online through the bank’s website or offline through one of the many IndusInd Bank Forex-enabled branches. Receive your Ready-to-Use Card Kit instantly to avoid any delays in planning. Additionally, you can load and reload the card multiple times through the official forex website.

Account Tracking

IndusInd Bank allows all forexcardholders to track their spending or check their balance on the go through the website. Cardholders also receive instant transaction information on their registered mobile number or email ID to prevent misuse. Regular statements provided by the bank make it easier to track international transactions.

Security and Safety

Carry out foreign transactions securely with the Indus Multicurrency Forex Card. Receive instant SMS alerts, track the spending and balance of the forex card online, and set a user ID and password for better security. If the card is lost or stolen, you can immediately hot-list it over the phone from India or abroad.

Get the Best Foreign Exchange Deal with the Indus Multicurrency Forex Card

Manage all your transactions seamlessly without the risk of exchange rate fluctuations with a forex card. With feature-rich cards like the Indus Multicurrency Forex Card, you can also enjoy exciting perks like free airport transfers, low processing charges for wire transfers, and discounts on sightseeing and other tourist activities. Easily withdraw cash from ATMs and make payments at merchant outlets for a stress-free experience with the Indus Forex Card, your perfect partner for your next international trip

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.