Info on how Forex card differs with Credit card and how you will affected when you spent in foreign.
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A forex or prepaid travel card is a pre-loaded card that allows you to access money in a foreign currency. The card can be loaded with one or multiple currencies; some let you load up to 15 currencies. It allows you to withdraw cash in foreign currency, check your balance and pay for shopping in foreign currency. You can also top up the card depending on your requirement. These cards are offered by banks and even companies like American Express and UAE Exchange and Financial Services.
1. Protection from volatility in forex rates
2. Minimal foreign currency mark-up fee
3. Lower ATM withdrawal expenses
4. No late payment charges applied
5. No need to pay forex conversion charges
6. Forex cards are cost-effective
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better to go with niyo card without any markup charges..also for new accounts from referral u will get 300 balance..i just got 1 for me..
Wow first I heard about it. Can you comment more on how to get it
Best card is niyo with zero markup fees. PM me for referral.
Do not rely on card alone while travelling abroad. Some cards work on some POS and don’t on others therefore, if possible, keep more than one card and always carry some cash.
Some pro tips: