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Just like credit or debit cards, forex cards offer the convenience of not carrying cash. But the similarity ends there. When swiping a forex card, you know the exact conversion rate, unlike in other cards where this is dynamic. Of course, this can work to your advantage, or disadvantage, but just like cash, it can help you stick to your budget.

If someone uses a credit or debit card abroad, whether on a PoS point of sale machine or an ATM, the charges are very heavy," said Chawla. It is up to the user to have a single-currency wallet or multiple currency wallets loaded on a single card. For instance, a person who needs to travel to the US as well as Europe can have US dollars and euros loaded on a single forex card.

Benefits of Borderless Prepaid Card

Similarly, in the US, the dollar wallet will be debited. You can also use a single-currency wallet in a country with a different currency. The higher the number of currency exchange or cross-currency transactions, the higher the cost to the consumer," Krishnamurthy said. Lack of security layer: While all debit or credit card transactions in India, including those at merchant outlets, use two-factor authentication, you are not asked to enter your PIN each time you swipe your card in many other countries.

So you need to be careful about where you are using your forex card. While there is an established process to deal with disputes and frauds, it may be time consuming. In such cases, it takes up to 45 days for an investigation to be undertaken by the network service providers," Krishnamurthy said.

The resolution could take a considerable amount of time in some cases. Frequent Travellers.

Currency Conversion Fee

All you need is just one card that carries multiple currencies 1. Business Travellers.

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From local to overseas, you can travel for work at major cities 1 with the currencies stored in your card. E-commerce shoppers, traders, entrepreneurs. Be it for e-commerce or shopping online, you can take your card across borders 1 offering you good exchange rates on your overseas retail spend in major cities 1.

Borderless Multi Currency Prepaid card

Parents with children studying abroad. No matter which major cities 1 your children study in, you can set up account here so you can transfer money for their living expenses. This way, you can view how they manage their expenses abroad. Regardless of where you work as an Expat 1 , the card can conveniently store 13 foreign currencies on top of Ringgit Malaysia. With online banking access, you get to enjoy fund transfer from Ringgit Malaysia to any currency of your choice.

Earn interest rates on your Account balance of selected foreign currencies. Transact overseas with no currency conversion fees on retail spend. In-store, online or to withdraw local currency at ATMs. Help is only a call away, whenever and wherever you are. If your card is lost, stolen or damaged, we can replace it quickly or provide you with emergency cash up to the available balance on the card. You can use your mobile, tablet, laptop or PC to login to ' My Account ' and stay in control of your travel money. Register for ' My Account ', so you can:.

Multi-currency Cash Passport is a reloadable card. Just return to any participating branch of the location where you bought your Cash Passport in Malawi , and they can reload it for you. You will be asked to present your Multi-currency Cash Passport, a form of payment, proof of residence, your travel documents and your valid passport.

Travel Card: International Travel Card, Travel Cards India - Muthoot Fincorp

The Card may be used for online purchases provided that the website used is not registered in the Common Monetary Area. In addition, there may be some other countries or geographical regions where usage of the card is prohibited.

Looking for a back-up card for safe keeping? Simply purchase an additional card when ordering in-store.