Comparative analysis of credit & debit card, cash and travel card

A present-day forex India card has changed very much from just a travel card loaded with cutting-edge features and boosted security elements. Thus, if you are a zealous foreign traveler and desire to flash your forex India card as a smart travel accessory then you should ensure that features like the multi-currency card, contactless payment, sufficient security measures like direct block facility, etc. are accessible on the card you are eyeing to purchase or not.

Forex card vs. cash vs. debit vs. credit card: A comparative breakdown

Here is a small assessment of numerous ways of transacting overseas:

•        Cash vs. forex card: Carrying foreign exchange in cash mode agonizes from the twin issue of cost and convenience. Buying foreign currency in cash would cost you more than carrying it in a digital manner say by loading it on a forex India card. Further, taking a heap of cash would 
•            Debit card vs. forex card: Though a debit card saves you from the inconvenience issue as you are not forced to carry currency physically. The major drawback with a debit card is the charges involved while doing transactions in foreign currency. As your debit card would be laden with Indian Rupees only, every time you transact in a foreign nation, your issuing bank would dynamically convert INR to the foreign currency of the country you are roving to and then implement the transaction as demanded. The bank would charge you currency conversion charges on each such conversion. Further, you run the risk of instability in the exchange rates with a debit card. If equated, a debit card can cost you anywhere from 3% to 4% via a forex card!
•       Credit card vs. forex card: As the name recommends, a credit card is a credit advancement facility proffered by the card issuer to you to make numerous kinds of transactions via it. Using a credit card in a foreign land can be an expensive affair, as it encompasses several types of charges like currency conversion charges, high ATM withdrawal fee, foreign transaction fee, and high markup exchange rates.

It is always better to know some things about the use of forex card so that you can equate and purchase the best travel card obtainable in the marketplace.