Prepaid forex card is powered by Master Card platform, which is the most preferred and convenient form of foreign exchange in these modern days, Which is coming under multiple currency in one card and it can be used at the ATM for cash withdrawal* or directly use it in the Card swipe terminal available at merchant establishment in the destination country any time, make an online transaction, reload the card when exhaust and have more control over net banking facility etc
We are partnering with Federal Bank for issuing of the card and which comes in various destination currency like US Dollars, Euro, Great Britain Pound, Australian Dollar, Canadian Dollar, Singapore Dollar, Arab Emirates dirham , Saudi Riyal.
Travel Card | Cash |
Prepaid travel cards have better exchange rates compared to cash. For the same amount of money, you can buy more foreign currency in forex card than as foreign currency in hand | For getting money converted directly to foreign currency, the rates are not as good as what forex card offers. |
Prepaid travel cards are safer compared to cash. Nowadays forex cards come enabled with chip and pin technology and hence provide more safety features. | Cash is only safe as we keep it. It’s entirely dependent on how safely we handle it. Plus, travellers carrying an excess of cash in their wallets are very easy targets for thieves abroad. |
In case of theft or loss of your prepaid travel card, you can have the card blocked and also transfer the funds to your new replacement card. This replacement card is usually given as a backup along with your forex card kit. | In case of theft of cash, there is no protection for your stolen money. It’s as good as gone. This is one of the biggest disadvantages of cash. |
When you are travelling to many countries, Prepaid travel cards allow you to load multiple currencies in them. When you are abroad and transacting with your forex card, it automatically detects which country you are in and pays using the preloaded local currency. | To carry different currencies as cash and making sure they don’t mix up and to pick out the correct currency, all these are hassles that travellers can do without. |