Prepaid Cards for International Travel

This is due to the fact that the amount of money you have loaded onto your travel card will never change, notwithstanding changes in the foreign exchange market.

Here are the top 5 banks which offer a range of prepaid cards to make your international travel easier:

• SBI Multicurrency Foreign Travel Card
• ICICI Bank Forex Prepaid Card
• HDFC Multicurrency Forex Card
• Yes Bank Multicurrency Travel Card
• Axis Bank Multicurrency Forex Card
• IndusInd Bank Multicurrency Card

SBI Multicurrency Foreign Travel Card

With the SBI foreign travel card, users can pay for shopping, meals, entertainments, accommodation, etc. The card can be used to load about seven currencies. These currencies are US Dollar (USD), the Pound Sterling (GBP), the Euro (EUR), the Canadian Dollar (CAD), the Australian Dollar (AUD), the Japanese Yen (YEN), the Saudi Riyal (SAR), and the Singapore Dollar (SGD).

ICICI Bank Forex Prepaid Card

If you want to travel abroad, the ICICI Bank Forex Prepaid Card is a great choice. It is possible to modify travel plans to suit your needs. You can reload this card at any branch location or via the ICICI FX mobile app and website.

In addition to restaurant discounts, it provides up to 20% off on shopping and a variety of other outlets across the globe. Additionally, their insurance policy provides up to Rs 10,000,000. After creating an account with ICICI bank, obtaining the card takes only two days, and opening a current or savings account is not required.

British Pounds (GBP), Australian Dollars (AUD), Japanese Yens, Swedish Kronas, South African Rands, Saudi Riyals, Thai Bahts, Hong Kong Dollars (HKD), US Dollars, Singapore Dollars, Hong Kong Dollars (NZD), Australian Dollars (CAD), Canadian Dollars (CAD), Euros (EUR), and Swiss Francs (CHF) are the currencies in which you can load the card.

HDFC Multicurrency Forex Card

The HDFC Multicurrency Forex Card is one of the most well-liked options available. There are 22 different currencies available on one card. In addition to providing extra protection and concierge services, contactless cards also let you switch money between two different currencies.

They also help forex traders by shielding them from currency fluctuations. The consumer is also entitled to compensation of up to 5 lakh rupees in the case that their data is misused.

Euros, Oman Riyals, Korean Wons, SAE Dirhams, Japanese Yen, Saudi Riyals, Sterling Pounds, Malaysian Ringgits, Norwegian Krones, Swiss Francs, Thai Bahts, Danish Kronas, Swedish Kronas, and South African Rands are among the currencies that can be loaded.

Yes Bank Multicurrency Travel Card

The YES Bank Multicurrency travel card is incredibly economical and safe. Utilising the online customer service portal, managing your card is simple and convenient whenever and wherever you are. You may also easily view your transaction history.

The currencies that can be loaded to the card are the British Pound, Euro, Singapore Dollar, Australian Dollar, UAE Dirham, Japanese Yen, Canadian Dollar, Hong Kong Dollar, Chinese Franc, and Swiss Franc.

Axis Bank Multicurrency Forex Card

Under the Multi-Currency Forex Card, Axis Bank offers three different variations - Multi-Currency Forex Card, Contactless Multi-Currency Forex Card and a Multi-Currency Image Card.

These cards allow you to travel around the world without the need to issue travelers cheques and other cumbersome forms of making payments. Available in multiple currencies like USD, EUR, GBP, SGD, AUD, CAD, JPY, CHF, THB, AED, SAR, ZAR, NZD, HKD, etc., the card protects you from exchange rate fluctuations and is valid for a period of 5 years.

You may use this card at Visa merchant locations, to make online purchases at e-commerce websites and to withdraw cash at any Visa ATM. The cards provide you with insurance cover up to Rs 3,00,000 (fraudulent usage due to loss of card), easy encashment options upon your return and timely SMS alerts for every transactions done with the card.

IndusInd Bank Multicurrency CardThis is a unique card offered by IndusInd which packs 8 currencies on one single card so you can travel with ease without worrying about money.

With safety features to protect your card from counterfeit and skimming, this travel card can be used at merchant establishments like stores, hospitals, petrol stations, convenience stores, etc.

You may also withdraw cash from Visa / Visa Plus ATMs in case you are in need of cash. You can make up to 12 transactions daily with a usage limit of Rs 5,00,000 equivalent of transactions.

This card too features easy refund processing with which you can easily refund the unutilized funds remaining on your card upon your return. Also, you can choose from a single card or paired card option.

With the paired card option, you get a replacement card along with the primary card, which can come in handy if the primary card gets stolen to misplaced.

Advantages of using a Prepaid International Card when Travelling Abroad

Listed below are some of the advantages of using a prepaid international card make transactions:

1. Customers holding a prepaid international card can load up to a maximum of 16 different currencies on the same card.
2. Customers can avail attractive discounts at restaurants across the globe using the prepaid international card.
3. For every transaction that is made using the prepaid international card, the customer is rewarded reward points.
4. The card can be used only for purchases outside India - which helps the traveller set aside a budget for the holiday or business trip.
5. To know exactly how much money is left on the card, the customer can make a balance enquiry at any ATM across the globe, or in most cases, the bank will send the customer a notification message following every transaction or withdrawal, stating the balance left in the card as well.
6. Since the prepaid international card will be linked to the internet banking account of the customer, he/she can check their bank statements anytime - to keep a track of their funds.
7. If in case the customer loses or the card is stolen, one has the option of the two available add-on cards.

How to Select a Prepaid Travel Card?

Keep the following things in mind while selecting a prepaid travel card -

1. Examine the exchange rates and the security they offer against loss or theft.
2. If you plan to visit more than one country during your trip, you will require a currency-converting card.
3. When making a final choice, there are a number of factors to take into account, including replacement costs, shipping over foreign borders, and inquiry and replacement fees.
4. Conversion fees, foreign transaction fees, ATM withdrawal fees, overlimit fees, and other similar charges could be incurred while using your card overseas. Check the website of your bank or credit card issuer, or get in touch with customer service, to learn what costs might be charged.
5. The first thing you should do is temporarily disable your card's access in case of loss or theft. To disable the card yourself, you can either go online or give the bank's customer service line a call.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

A good credit score can help you secure lower interest rates on loans and credit cards.

Get Free Credit Score