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Forex Card Myths Debunked: Separating Fact from Fiction
Posted on Friday, June 14th, 2024 | By IndusInd Bank
Nowadays, there are multiple financial transactions that any individual has to perform every day. Whether they are making payments within the country or buying something on a trip abroad, a seamless payment mode is required. Especially, while traveling to a different country, the shift between currencies and appropriate payments can become quite laborious. It’s here that choosing the best Forex cardbrings convenience, especially when it comes with multi-currency support.
Unfortunately, countless misconceptions surround the world of foreign exchange and Forex cards. Delve deeper into this informative guide to uncover the truth behind these misconceptions and use your Forex card wisely.
Myth 1: Buying Your Forex Card Takes Time
You might think that getting a Forex card involves a lengthy process. But with IndusForex, the process is a piece of cake as you can get the best Forex card rates 24*7. You can buy the card online by uploading a few documents and entering some details. Select your preferred mode of delivery and receive your card in no time. You can also pick it up from any of the 836 branches all over India. Remember that you can also reload your Forex card online with ease.
Myth 3: Transactions with Forex Cards Come with Additional Charges
In earlier days, some of the forex cards might have incurred additional charges under certain circumstances. However, with new-age and innovative Forex cards offred by IndusForex, that’s not the case. Their virtual card lets you manage payments hassle-free without keeping multiple cards and the fear of losing them. purchasing the card is also easy. You can do so from the IndusForex portal or any IndusInd Bank branch.
Another issue is regarding the loss or theft of the card. The presence of virtual cards like IndusForex, you won’t have to worry about this aspect anymore.
Myth 4: Forex Cards Are Not Convenient for Travelling Abroad
Foreign cards are a fantastic way to manage finances when journeying abroad. They can be used at point-of-sale terminals for shopping and at cash machines overseas to withdraw funds.
These cards can be preloaded with the necessary foreign currency and can even support multiple foreign currencies. This is why they are often referred to as multi-currency cards. For instance, IndusForex supports 14 currencies.
Additionally, when making transactions abroad with credit and debit cards, there are conversion fees of around 3-5% as the local currency is converted to foreign currency. However, when using foreign exchange cards, this can be avoided as the currency is already in that of the destination.
Myth 4: Forex Card Rates Are Extremely High
At IndusForex, you can enjoy unbeatable rates. Pay only 5% of the Forex card rates while booking. You can pay the remaining 95% amount within 24 hours. So, it’s a completely hassle-free way of buying or loading your Forex card. Visit the site today and book the rates.
Ending Note
The best Forex card will allow you to send money seamlessly across borders. Moreover, you can engage in foreign exchange trading and profit from it. So, discover the truth behind the Forex cards in India and get yours today to dive into this financial market.
