Every Tarun, Danish and Hardeep or your proverbial Tom, Dick and Harry in India is tempted to consider a trip abroad thanks to inviting advertisements-an array of destinations at affordable prices! Social circles are spreading wider and work charts frequently include foreign travel in varying lengths and widths. I join this list too! My college mates are spread all over the globe and we friends found ourselves planning a trip to visit some others in Europe and the USA. I found myself mentally on the trip. And I began to visualize the various countries and currencies involved! Now, planning any trip, especially by the kind of perfectionist I am, and one involving international travel, calls for fool proof planning. Can I rely on methods like cash, credit cards or travellers’ cheques for each trip, for every destination and every transaction? When I am planning an international journey, I want crisp and clear itineraries. I want options which make money matters simple, economical and easy. I want options which do not consume a lot of paper or time. A prepaid forex card or an international travel card is the option I zero in on here.
Now, it wasn’t just like that alright!
I had to methodically conclude why it should be the chosen option for me. I used my ‘list down points’ method to understand it better…
Should I choose a prepaid forex card while travelling abroad?
It will be…
- Wise-
It is a prepaid forex card. So the expenses are controlled since they are debited from the amount this international travel card holds!
- Control freak satisfied?!?
- Convenient-
It is like any other finance card which fits into any slot in the wallet/purse.
- Secure-
It will usually be chip based, which makes it completely secure.
- Safe-
In case of loss or theft of the card, it can be blocked online immediately! And there is a prompt replacement of the lost card usually within 10 working days.
- No sleep lost over its probably pessimistic loss!
*Some service providers may also provide an additional secondary card for using in case of emergencies such as a loss.
- Planned-
It can be loaded on days of favourable rates! This ensures better rates for exchange every time!
- Benefits are always a welcome sign!
- Easy-
It can be purchased physically from banks or authorized centres or even online.
It can be accessed online to monitor the statements.
It can be reloaded online anywhere anytime!
*Many banks would also allow users to charge it using present bank accounts or buy a new international card paying cash.
Terms and conditions of payment and loading a card vary with different agents. Ensure this before buying or a forex travel card.
- Economical-
I can save between 3-11% in the commissions, service taxes and cross currency charges that I will not pay if I use other older methods of foreign exchange.
- It can be loaded with a range of currencies offered by the specific agents. For eg. At buyforex.com here at this site, it is possible to load or reload your forex card with 17 different currencies.
- Have wider application and acceptance-
- It can be used at most conventional shopping avenues.
- It can be used for online shopping as well!
- It is often accepted even by taxis in certain places.
- What’s more, it can also work like an ATM Card and used for international cash withdrawals as well!
- Variety is the spice of a travellers’ life!
*Check with the international card travel providers for specific applications.
- Have complimentary offers-
There are often complimentary and complementary offers like discounts in airfares or hotel tariffs, etc.
- And who doesn't like compliments?!?
Not yet convinced, am I? How about a show of one upmanship vis-a-vis some traditional methods to shoo away that iota of doubt about switching to this? Why not?
Traditional Forex Options against the Prepaid Forex Card-
- Cash v/s Prepaid Forex Card
Would I pick a method which requires constant checking of rates of exchange, have a greater risk of losses due to errant rates, pose threats of safety due to involvement of a chain of people and a cumbersome choice of carrying valued money or would I pick a safe, secure, conveniently charged prepaid forex card at suitable rates which fits right into my wallet?
- One point to the Forex Card!
- Credit Card v/s Prepaid Forex Card
Would I want to keep worrying about the additional charges for using my credit card for different currencies or would I like locked-in exchange rates and no extra costs trickling in with a prepaid forex card?
- Travellers’ Cheques v/s Prepaid Forex Card
Do I worry about money changers to encash my cheque or whether the purchase point will accept my cheque or do I move around without a worry for I can use my international travel card?
- Last point to the Forex Card yet again!
And the winner is the Forex Card!!!
…and for the international travel that is on the cards for me I choose an international travel card, my prepaid forex card!
