When you plan on traveling to a foreign destination, the foreign exchange rate is the first thing to be considered. How much money can you carry to a foreign country? What are the modes available and which mode is best for me? Big-time questions often debated and hovering all-around your mind. Never carry forex in just one mode; carry a certain amount of money in foreign currency, and the remaining can be carried in the form of prepaid travel cards. The most convenient and inexpensive way to carry money abroad is a prepaid travel card.
Prepaid Travel Card offers an easy way to get cash in the local currency without risking your own Debit card, the cost of a Credit card cash advance, or the hassle of Travellers’ cheques that might cost more than expected.
What is a Prepaid Travel Card?
As the name suggests, a prepaid travel card is already paid by the user or loaded with desired foreign currency. To use it, you have to choose your preferred foreign currency or currencies and load the international travel card by paying in INR. It works just like any debit card – you could swipe it on the checkout counters abroad or use it at an ATM to withdraw cash in foreign currency.
International travel Cards come in different types that hold single foreign currency or as a multi-currency card. To make it further understandable, you can carry only one foreign currency in a single currency card but a multi-currency card gives you the privilege to hold multiple foreign currencies without worrying about switching or conversion charges. All these international travel cards empower you to load the required amount for your foreign travel and also to reload when exhausted.
What are the points to be considered while selecting an international travel Card?
Foreign trips often require special arrangements and an international travel card is an essential requirement. A safe and secure way to carry foreign currency without the hassle of exchanging or risk of carrying cash. Keep the following points in mind for the wise selection of the best travel card.
- A place to Buy: You can get the best travel card from a bank or an authorized forex dealer. Just fill the available application with all your personal details along with the amount. Remember to submit KYC documents to make the processing easier and faster. The most important and mandatory documents are a valid Government ID with photo and address, PAN Card.
- Compare Rates Before You Buy: Foreign travel is often found to be an expensive affair. Be smart to save as much as possible by getting the best forex card rather than using cash. Remember to check the foreign exchange rates before making the final decision
- Charges Involved: Be aware of various charges involved while opting for a prepaid forex card. Although there is no charge for swiping the card at a merchant outlet, there is a fee for transactions like balance enquiry, cash withdrawal, monthly international SMS alert, etc. Be crystal clear about all such charges so that you don’t face any trouble while using the best travel Card abroad.
- Card Activation and Safety: Get to know more about the card like how to activate the card, and re-generate the card PIN in case you forget it abroad, from the service provider. Also, international fraud in cards, popular as skimming is prevalent in many places. Your card information is taken and used dishonestly to make payments which is accounted to your card. Make sure that the card is always swiped in front of you. Always have a 24-hour helpline number ready in your hand.
- Daily Limit: Check out the daily limit for the travel card usage, which could be between $200-300 or more. Check whether the daily limit of your card usage aligns with your requirements.
- Insurance Cover: Different insurances are also available to protect your best travel card. Counterfeiting, personal accident, card loss or misuse, loss of checked baggage, etc. are some of the protection that such insurance provides. Hence check with the services provider if the opted best travel card gives you protection from all these hassles.
Purchasing a prepaid forex card for your international trip is not just beneficial in terms of saving money, but is also hassle-free. Unimoni India is an Authorized Dealer for selling prepaid travel cards with a good number of branch networks. With the rich industry experience Unimoni India possesses, they can offer the best currency exchange rate for prepaid forex cards with minimum service charges.