While travelling abroad there are different ways to access money for your expenditures — carry foreign currency in the form of cash; use your bank's credit or debit cards if they permit you to use abroad or carry a prepaid travel currency cards.
If you choose to use a prepaid travel currency card for your expenses abroad, here is some useful information to buy a best travel currency card.
We gathered information about prominent Indian banks, dealers who offer USA travel currency cards and various fees charged by them. Hope this information helps. To get the most out of travel currency cards check this Business Line article.
Travel cards offer security over cash and exchange rate locking over credit cards. Unlike credit cards, travel cards lets you lock exchange rates before the travel and give you peace of mind from highly volatile exchange rates.
These cards are also called as prepaid travel cards, travel currency cards. You can buy travel cards from popular Indian banks and foreign exchange institutions. When you buy a travel card, you will get two cards — a primary card and an add-on card. Be prepared to pay fee for replacement cards. Yes, there are a lot of fees you have to pay for travel cards. You have to pay fee when you get a card, use it at an ATM, reload it, etc.
As there are many fees associated with travel cards, we setup this page to help you figure out best travel card available in the market. One of the main advantages of using a travel card is ability to reload it whenever you want from India.
When you are abroad and run out of money in your travel card then your family or friends can reload the card with money. But again there is a fee associated with reloading. Carrying cash definitely saves you a lot from fees, but is it safe to carry a lot of cash?
Have some cash with you for urgent needs and carry rest of the money in travel card. When you are travelling abroad, it may not be easy to figure out an ATM center close by to withdraw money from your travel card. In those scenarios, your cash reserves will help you pay bills. For every transaction you do on travel card you have to pay fee. Loading money, reloading money, withdrawing cash, checking balance at an ATM, closing your account and en-cashing it, etc attracts fee.
Axis Bank Travel Currency Card. Citibank World Money Prepaid Card. Kotak World Travel Card.More...