Best way to carry cash when traveling: Here is how to travel smart
One big concern for international travellers is how to carry currency in a safe manner. Travellers have to also worry about fluctuating exchange rates, conversion surcharges, and much more. Carrying cash unnecessarily exposes the traveller to theft
One big concern for international travellers is how to carry currency in a safe manner. Travellers have to also worry about fluctuating exchange rates, conversion surcharges, and much more. Carrying cash unnecessarily exposes the traveller to theft. Also, travellers are forced to convert their cash at the prevalent exchange rate, which may be less than favourable. Moreover, if foreign exchange conversion centres are unavailable, travellers risk finding themselves stranded. That is why overseas travellers should look at carrying money in a multi-currency forex card.
Convenient and hassle free
A multi-currency forex card offers convenience to users. It is preloaded with multiple, global currencies and is a one-stop payment solution across countries and destinations.
Forex cards card can be swiped at over 80 million retail and online merchant outlets across the globe. One can use the forex card to withdraw cash from over 1 million ATMs globally. Travellers can also access their cards online to track their balance and to allow for any unplanned expenditures.
The forex card secures travellers against prohibitively high transaction charges and currency exchange rate fluctuations, as it locks in the rate availed when loading the card. Unlike debit and credit cards that invite a charge of 3.5-5% on every swipe, a multi-currency forex card has zero transaction charges if the transaction is done in the currency is available in the card.
Constant companion in a foreign land
For students travelling abroad to pursue higher education, a multi-currency forex card can be used to pay fees, shop for groceries, and even rent an apartment. For travellers on a vacation, the card can take care of dining, travel, entertainment, and other requirements. It can also be used for online transactions.
One can avail a forex card by furnishing a copy of their passport, Aadhaar, PAN, visa and air ticket. Customers only need to ensure that they have received the PIN and signed on the signature panel at the back of the card. The cards are typically valid for five years and travellers can maintain their balance up to $ 2,000 for subsequent trips and/or encash the excess within 180 days of their return.
(By Neeraj Sinha / DNA)
The writer is senior vice-president and head international retail, Axis Bank