How to Compare the Best Forex Cards in India?

While travelling abroad, managing your money can be the cause of constant anxiety. This is where forex cards can help you out. They eliminate the need to carry cash around and ensure that you have sufficient funds with you at all times. Moreover, you don’t have to depend on money changers anymore and can easily take care of all your monetary needs in a foreign country.

However, the availability of multiple options in the Indian market can make it challenging to choose the right card. Read this article to learn how to compare different forex cards and choose the one suited to your financial requirements.

Evaluate Different Rates
Before you buy a forex card online, compare the rates of different cards offered by several financial institutions and forex dealers. Being aware of the cost is critical to understanding how much money you will have to shell out for the financial tool. Also, you don’t have to worry about fluctuations in the exchange rate because once you buy a card, the exchange rates are locked in.

Find Out All the Charges Involved
While checking the cost of the different cards, don’t forget to check the different costs involved. This is because forex cards usually have many hidden and extra charges that can add up to a considerable amount. For example, you will have to pay an issuance charge, reloading charges, balance inquiry charge, cash withdrawal and transaction charges, and so on. Also, check the daily usage limit of the card to use it effectively.

Check the Number of Currencies You Can Load
When travelling to multiple countries, it is best to opt for a multi-currency forex card since it can load currencies of different countries. Check how many currencies the card can load. For instance, IndusInd Bank’s Indus Multicurrency cards can load 14 currencies on a single card, making it a convenient choice while travelling to various countries.

Know Where You Can Use the Card
Another crucial point to consider before you buy a forex card online is where you can use the card. Once active, you can use IndusInd Bank’s multi-currency card in multiple places, including merchant outlets, international ATMs, and online transactions. Hence, it allows you to perform both offline and online international transactions with ease.

Check for Insurance Cover
Last but not least, check whether the card offers an insurance cover. Similar to a debit or credit card, many banks offer insurance on the forex card too. Insurance can protect you against accidents, theft, fraud, and loss of the card.

The Bottom Line
Using a forex card will ensure that you forget all about your financial woes and have the time of your life during your travels. Hence, it is the smartest move while planning a trip overseas. Further, conducting adequate research and considering the points mentioned above will help you compare the different forex cards available in India.

Lastly, to apply for the widely accepted multi-currency forex card by IndusInd Bank, visit the official website or click here.

source https://nrinews24x7.com/how-to-compare-the-best-forex-cards-in-india/

April 27, 2022