What Is A Forex Card?
A Forex card is a prepaid card that you can use for paying hotel bills, shopping and other transactions when you travel overseas. These are preloaded and take care of your foreign currency requirements. You can use the card to withdraw cash in foreign currency, make payments while shopping, and for checking your balance.
The foreign exchange card offered by IndusInd bank can be reloaded from any part of the globe, thus, giving you a cashless travel experience. This Forex card not only lets you make hassle-free transactions overseas, but it also keeps you safe from any fluctuation in exchange rates. Moreover, you will be instantly notified regarding all your transactions via emails or text messages.
Forex cards can be single currency or multi-currency. With a single currency card, you can withdraw or carry out transaction only in single foreign currency. While a multi-currency card is available with multiple currencies. This is particularly useful for those who visit multiple countries.
Ways To Use A Forex Card
A Forex card can be used in the same way one uses debit and credit card. When you are travelling abroad, you can use the Forex card to pay hotel bills, make purchases at various shops, restaurants and online sites. You simply need to enter your PIN or signature to complete the transaction. For immediate cash requirement, you can use your Forex card to withdraw cash from any ATM.
Why Use Forex Card?
Forex cards are better than Credit and Debit cards. It’s because, debit and credit card transactions come with additional service charge of 3% per usage. Plus, cash withdrawal at ATMs attract extra fee that‘s way higher than what you’ll be charged for making a cash withdrawal with your Forex card. You will be billed as per the exchange rate of the day the transaction is made. Also, delay in credit card bill payments come along with additional penalties. Traveller’s cheque, on the other hand, is accepted at fewer places and you will be charged with an additional encashment fee. With a Forex card, the exchange rate is fixed at the time of loading the card. You are protected from exchange rate changes during your trip. It is safe & easy to carry and in case of loss of the card, you can get another Forex card just like your credit and debit card. You can easily access your Indus Forex Card details from our online portal.
How Safe Is Forex Card?
Indus Forex Card has an embedded chip which stores information in encrypted format. This card offers greater security and protects you against counterfeiting and skimming card frauds.
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