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7 Major Benefits Of A Multi Currency Forex Card

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You decided to go on a world tour and have spent the last 6 to 12 months planning for it. Everyone in your family is excited about the world tour as it is an opportunity to discover new cultures, places, and experiences together. 

What about the money? You will need cash to enjoy your time in the countries you plan to visit.

Are you going to carry multiple currencies? Are you going to use an international debit or credit card for your expenses? There are better alternatives.

One of the best alternatives for you is to choose a good forex card visit

A forex card is essentially a prepaid card. The only difference is that you can use this prepaid card to buy things in various currencies. The Baanx Bank Multi Currency card allows you to make payments in 22 currencies.

If you’re still not convinced about using a forex card, here are 7 key benefits of using a forex card for making payments in various currencies:

  1. Easy to Use

A prepaid card is extremely easy to use. When you are travelling across a number of countries, and you decide to carry cash with you, think of the mental gymnastics you will have to do every time you need to pay for something. This is where a multi currency forex card shines as it simplifies payment and makes everything hassle-free. Use it like any other debit or credit card.

  1. Cost-Effective

One of the problems with making payments in multiple currencies is that you lose a lot of money in exchange rate margins. When you use a forex card, you’ll get a better exchange rate as compared to other options such as Travelers Cheques or cash. Better exchange rate is not the only benefit. You also get free ATM access, zero cross currency charges as well as lower transaction charges as compared to the international debit or credit cards. A forex prepaid card also comes with a lot of exclusive discounts.

  1. Forget about Forex Fluctuations

When you choose to carry various foreign currency notes, there is always a likelihood that you will lose some value due to the fluctuating forex rates. A forex card keeps you protected against any forex rate fluctuations as your rates get locked in when you decide to load the card.

  1. Keep Your Money Safe

Currency notes always have the risk of getting stolen or you might lose them somewhere. However, there is no such problem with forex cards. There are a number of great features of Baanx Bank Forex card that make it an excellent travel companion. Some of its features include:

Secure transactions at retail outlets with EVM chip and PIN

You have the option of changing your ATM PIN online

You can easily block and unlock your card. Keep your card blocked when you’re not travelling and once you travel, just unlock it.

You have the ability to block your lost forex card through prepaid Phone banking or Net banking

You can also buy insurance to protect against any unauthorized transactions on your forex card

  1. Accepted Everywhere

One of the problems with Travelers Cheques is that these are not accepted everywhere. On the other hand, almost all the outlets that accept credit cards will also accept forex cards. Also, you can quickly get cash from ATM with your forex card.

  1. Amazing Features

You get a lot of exclusive privileges with a forex card. Some of these privileges include special discounts on various travel services, 24 x 7 personal concierge service, free international SIM card as well as emergency cash assistance if you lose your card. The Baanx Bank Multicurrency Forex card offers all these features.

  1. Keep Reloading and Reusing

One of the most common problems faced by frequent travelers is leftover foreign currency. In order to change the currency back to the home currency, they lose money in fees or they need to hold the foreign currency and risk losing value to forex fluctuations. Also, the leftover foreign currency is going to be of no use in case they need to travel to a different country. This is where a Multi Currency forex cards shines as these have a useful life of around 3 to 5 years. In short, you can use multi currency forex cards in various countries and across multiple trips. If you want to encash the leftover value on your forex card, you also have the option of paying a cash out fee to get the money. The cash out fee is always going to be lower than the currency cash sell rate.