Business & Finance Personal Finance

Why to Choose Prepaid Travel Cards Over Foreign Currency Notes for International Travel

Of the wide range of forex products available in the market for those travelling overseas, it is the prepaid forex card / international travel card that has emerged as the most popular choice of customers. It is no surprise, considering it is relatively inexpensive, convenient to use and is a good way to hedge against currency fluctuation.
If you prefer to carry foreign currency notes for your overseas trip, think again... Here's why you should switch to a prepaid forex card/ international travel card from now on, whenever you travel abroad:-

  • RBI guidelines - According to RBI guidelines you can only carry upto the stipulated amount of forex as cash/foreign currency notes. Eg. - For travel to most countries abroad (barring some exceptions) the maximum amount you can carry as cash/ currency notes is USD 3000. If you need to carry additional forex you can purchase it in the form of a prepaid forex card or traveler's cheque.

  • Safe and secure - From a security stand point, a prepaid forex card reduces the risk of loss or theft of cash.
    Widely accepted worldwide - A prepaid travel card is widely accepted at over 30 million shopping outlets and by over 1,00,000 e-commerce sites across all globe. You can use them for shopping, at restaurants and even to pay your taxi fare.

  • Convenient to use - A prepaid forex card/ international travel card works pretty much like an ATM card that you can use to withdraw money as well as to make payments abroad.

  • Multiple currencies in a single card - There are multi-currency prepaid forex card that can be loaded with upto 10 different currencies. So if you plan to cover multiple countries in a single trip, you can conveniently load the currencies of the countries you are travelling to on a single card.

  • Hedges against foreign exchange fluctuation - Since the currency conversion happens at the forex rate applicable on the day you load or top-up your card and NOT when you make a payment, you hedge against any devaluation of a currency.

  • Complementary travel insurance - Many issuers offer a comprehensive travel insurance cover absolutely free of cost with the international travel card. So why pay extra for it when you can buy a prepaid card and get it complimentary?

  • Valid for 3-5 years - Once you buy a prepaid forex card, you can use it for multiple trips abroad since it is valid for 3-5 years, depending on the issuing bank.


As part of BookMyForex's special €Summer Offer€, if you buy both currency notes and a prepaid forex card in a single order, you can get 1% discount on the currency rate (displayed on site), provided the order for currency notes constitutes only upto 20% of the total order. (Eg.- If your total forex order is for USD 2,000, then USD 1,600 should be in the form of a prepaid travel card and USD 400 as currency notes).
Switch now and save big! Login @ BookMyForex.com or call @ 08882481234.
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