Buy a Forex card at the best rate | Buy Forex

A prepaid forex card can be loaded with multiple currencies. A person travelling to multiple countries should load multiple currencies as per their need in the same forex card, which in banking parlance is called having multiple wallets in the same card. This will enable the traveller to save a lot on cross currency conversion charges (which is approx. 3%) and exchange fluctuation; because they have the advantage of paying in local currency of visiting nation.

 

The maximum amount which can be loaded on a travel card is equivalent of US $ 2.5 lakh per annum for the purposes covered under LRS scheme notified by RBI. Forex cards are issued on either visa or mater card platform. So it is immaterial who is the issuer of the card. Looking into the features, again are more or less same, offered by various issuing banks. One differentiator is the whether destination currency is available on the card or not. But the major differentiator is the rate applied and after sales service. Orient Exchange stocks cards of multiple banks and provide the best rates for forex cards due to their tie-ups with banks and forex risk management capabilities.

 

 

Benefits of Forex Card.

Apart from the usual benefits of using plastic money, Forex cards have some specific advantages as listed below:

 

Wide Acceptance :- Forex cards are widely accepted at all departmental stores – small, medium or large, Restaurants or railways etc. Travel Cards are issued on visa card/master card platform.

 

Load Multiple currencies :- One can load multiple currencies on a single multi-currency tarvel card. Altogether 9 currencies are presently available for loading on a single prepaid travel card. You can re-load your forex card while on travel by choosing reload card option in our portal.

 

Inexpensive :- One should plan in advance to buy foreign currency in card or cash to avoid last minute rush and pay more. This will give them an opportunity to load the forex card multiple times and average out the cost. As the conversion happens on the day of loading, prepaid forex cards provides a hedge against currency fluctuations.

 

Lower Charges :- Forex mark up fees and charges do not apply in case of prepaid travel cards and makes it much cheaper when compared to international debit/credit cards , where the charges varies from 3% to 5%. There is absolutely no charges when travel cards are swiped at POS terminal abroad. ATM withdrawal charges applies in both credit card or forex card.

 

Safe:- In the event of loss or theft of card, it can be blocked by calling the toll free number available in the card-kit. All forex cards now use the chip and pin technology.