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Features To Look For When Applying For A Forex Card
Posted on Tuesday, August 11th, 2020 | By IndusInd Bank
One of the top things on your mind while travelling abroad is how much foreign currency should you carry? And how should you carry it?
Carrying the local currency may seem like a suitable option, butusing just cash is not advisable, especially if your trip is a long one. Otheroptions are traveller’s cheque, debit card or credit card. However, each comeswith its pros and cons. Most places don’t accept traveller’s cheques, and ifthey do, they charge extra. Using a debit or credit can be convenient, yetexpensive; apart from a high conversion rate, additional ATM withdrawal fees islevied.
So, what’s the best way to transact while travelling abroad? Forex cards! These prepaid cards are pre-loaded with the currency of the country or countries that you are visiting. And they are easy, convenient and safe to use. But how to choose the right one?
Here’s a list of features to look for while getting a forex card:
Easy ATM Withdrawals
While travelling abroad, you need to carry some cash for smallpurchases and for use in places where a card may not be accepted. For instance,if you take a cab or a tuk-tuk, the driver will only accept cash. Therefore,make sure that your forex card allows you to withdraw money from the ATM.
The Indus Forex Multi-Currency Card allows you to make withdrawals from all VISA ATMs and doesn’t charge you for the same.
Make Online Payments
Before travelling abroad, you will have to make several onlinepayments; booking for tours and packages, transportation bookings, onlineshopping, etc. Therefore, to make these payments, you need a forex card thatsupports online payments.
With the Indus Forex Multi-Currency Card, you can make quick andsafe online transactions.
Updates on Transactions
It is essential to manage your finances by keeping a tab on your expenses even if you are on vacation. After all, running out of money is the last thing you want when abroad. Hence, get a forex card that sends you instant messages every time money is debited or credited.
The Indus Forex Multi-Currency Cardsends instant alerts on every transaction to keep users updated. Additionally,the InstaReload feature ensures you can quickly restore cash in your card atthe locked-in exchange rate.
Safety Features
Security features of a forex card are the most crucial aspect toconsider before purchasing. Facing a financial scam when abroad can beterrifying. And since you will be using it for several payments;transportation, accommodation, food, shopping, bill payments etc. you need toensure that your forex card allows for a safe transaction.
The Indus Forex Multi-Currency Card guarantees secure cashwithdrawals and online transactions. With instant SMS alerts after everytransaction and online access, you can track your balance and check fraudulentusage. And in case the card is lost or stolen, you can contact the bank andseek immediate redressal. Also, the IndusInd Bank Multi-Currency forex cardcomes with a magnetic strip or chip to protect customers from card skimming andcounterfeiting.
Now that you know what safety features to look for while applying for a forex card, make sure you opt for the right one. The Indus Forex Multi-Currency Card is a wise option as it is easy to use and fast to load and reload at unbeatable exchange rates. You can apply for it online at any time and from anywhere and enjoy fast delivery. Additionally, you can carry 14 different currencies on a single card.
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.
