Download Mobile App
Follow us on
Forex Cards
October 4, 2017 Forex Card
2 minutes, 57 seconds Read

Forex Card: Are these better than Credit/Debit Cards while overseas?

Forex Cards


Rate =
Share on FacebookShare on Google+Share on LinkedIn

The post first appeared in Moneycontrol.com on 04-10-2017

Before trying to answer the question about Forex Cards, it is important to know what the terms mean.

Everyone enjoys traveling. Seeing a new place in all of its uncertainties and exotic experiences is an exciting thought. However, there are some of us who enjoy the pre-trip planning process more. They become real-time encyclopedias for travel-related information, and one of the main questions they get pestered with is-which is better – forex cards or debit or credit cards.

Forex Cards

Before trying to answer the question, it is important to know what the terms mean. Essentially, a forex card is a pre-loaded card with foreign currency which can be accessed as and when required. It is undoubtedly one of the easiest and most affordable ways of conducting forex transactions. It has been appreciated by many travelers and experts as the best way of conducting foreign transactions.

Enlisted below are certain differences between forex cards and credit or debit card transactions

1. The Forex Cards rate of exchange

Since the card is pre-loaded, buyers can fix the specific rate of exchange as per their convenience and then load the card with a higher amount of currency. The rates offered are also better for forex cards. The rate of exchange that one gets on debit or credit cards are pre-determined by banks and customers have little scope to negotiate.

2. ATM withdrawal fees

While credit or debit card charges a flat fee in the Rs. 250-300 bracket, with forex cards, a user receives three transactions completely free. Post these transactions, the user only needs to pay a maximum of $2 more to complete another one. Also, there are ATM charges which are levied only on credit or debit cards, to the tune of 3% of the transactions generally. Forex card, on the other hand, have very low or in some cases, zero ATM usage charges, offering greater flexibility to users.

3. Dynamic currency conversion-

With credit and debit cards, the currency rate is not fixed and hence you can end up with the worst exchange rate, apart from swipe charges. With forex cards, none of this will happen as these cards are pre-loaded with currency and do not have any swipe charges.

4. Security

Forex cards can be blocked immediately in case of theft or loss of your prepaid travel card. You will receive a replacement card which will have the unused balance of the lost card, which is not so in the case of credit and debit cards. You also get emergency cash benefit.

5. Multiple currencies on a single source

Forex cards allow you to redeem the money loaded in multiple currencies, which makes them perfect for multi-city travel. This is an extremely beneficial feature because buying new currency in every place becomes tiring, apart from the fact that it is impossible to get the best exchange rate wherever you go.

6. Functionality-

Forex cards provide a lot of flexibility and even though there are some places where it is difficult to find stores which accept them, overall they are accepted in countries across the world. With the benefit of no per-transaction charges and constant exchange rates, they can be considered to be far better a travel financial instrument rather than credit and debit cards.

BookMyForex is India’s No.1 Forex Card Seller. You can purchase HDFC Bank Forex Card or an Axis Bank Forex Card from us at Best Exchange Rates and no hidden charges. Just visit our website www.bookmyforex.com or call us at 09212219191 to get your favourite Forex card.

Leave a Reply

Book A Forex Order
Select Field
Select Field
Select Field
Select Field
Rate = 68.0875 Select Field

Need Forex? Request A Call Back

  • USD 1.2 Billions

    Exchanged so far

  • 6,50,000+

    Happy Customers

  • 5000+

    Banks and Money Exchangers

  • Zero Margin Rates


Need Forex? Request A Call Back

Book My Forex Pvt. Ltd., a MakeMyTrip group company, is a currency exchange service provider authorised by the Reserve Bank of India (RBI). | License number : FE.DEL.FFMC/ U070/2013 | Insurance is the subject matter of solicitation | IRDAI Registration No. CA0429 | IRDAI | Cheques are subject to realization.

* Zero margin rates/ interbank rates are available only on forex cards on specific currencies, in select cities for orders amounting to Rs. 1.5 lakh or more (Use promo code: ZEROMARKUP)

** Same-day delivery is available from Monday to Friday (excluding holidays) when all payments and documents are received before 1PM.

BookMyForex Pvt Ltd

P-701 to P-705, 7th Floor, Tower C, JMD Megapolis, Sohna Road, Sector-48, Gurugram, Haryana 122018

© BookMyForex. All Rights Reserved

We Accept:
Secured By:
Share on FacebookShare on Google+Share on LinkedIn