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The Best Forex Instrument for International Students

August 02, 2018

The Best Forex Instrument for International Students

Growing technological advancements have made the world more interconnected than ever before, such that we’re just a click away from being face-to-face with someone sitting on the other end of the globe. This increased interconnectedness has had a massive impact on the educational structure. Colleges and universities across the globe, realizing the importance of practical learning, increased exposure, and diversity in the education system, are expanding their study abroad programs. As a result, students are more than willing to cross several borders to get admission into renowned universities, for both personal and professional growth.

Before you decide to travel overseas for education, however, it’s essential to get to the crux of your transition process. Planning on how you are going to manage your expenses is one of the most important aspects to consider when preparing to fly abroad for higher education. Though there are multiple foreign exchange alternatives available to you, most of them tend to exploit students through their steep Forex exchange rates. It is in such situations that a Forex travel card comes to the rescue, helping students effortlessly pursue their dreams in a foreign land.

Benefits of Forex Cards to International Students

The travel pre-paid card functions in the same way as a debit/credit card only with added benefits such as:

  • Cost-effective: Travel cards are comparatively cheaper than carrying cash because of lower currency rates. You also have an option to lock-in the Forex card rates before you travel, if it’s favorable.
  • Easy re-load: A travel card can be easily re-loaded anywhere and anytime with the currency/ currencies of your choice. You can top-up your pre-paid card through an app on your smartphone or you can visit the website and follow a simple process to get going – it’s as simple as that!
  • Online transactions:  Your forex card can be used for making any online payments such as the university fees, accommodation, etc. free of charge as opposed to the 3-5% conversion rate levied by debit/credit cards. Why would anyone want to pay surcharges?
  • Safe and secure:  Your travel card is not linked to any bank account. On the contrary, it is linked to a secured network that is carefully protected by a chip and pin. However, in case your card is stolen, you can immediately block the card and apply for a replacement.
  • ATM withdrawal: A Multi-Currency Forex Card gives you the convenience of withdrawing money from an overseas ATM, at a minimal or no fee. This makes it easy for you as a student to access money at any point of time and saves you from the fear of carrying extra cash for meeting unexpected expenditures.
  • Travel insurance: Students should ensure that they are insured during their overseas stay to guard themselves against unexpected eventualities. When you buy Forex card, check whether it comes with free travel insurance, saving you from the hassle of paying for one.

If you want to make the most of your once-in-a-lifetime opportunity of studying abroad without being entangled in financial crises, you must look for the best forex card that suits your requirements.

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