When travelling abroad, a Forex Prepaid Card is a convenient and cost-effective alternative to a credit card that allows you to access funds in foreign currency. Continue reading to learn more about the advantages of using a Forex Prepaid Card.
Every year, a number of students travel abroad to further their education. Studying abroad also allows for a more holistic approach to personal development. Apart from securing an admission, packing, and documentation, one of the most pressing concerns for any student going abroad is regular access to money.
It is necessary to carry a certain amount of local currency; however, you do not need to carry much cash nowadays because you can use a Forex Prepaid Card, which is a multi-currency card. It saves you the trouble of having to calculate exchange rates. You can simply use ICICI Bank’s Forex Prepaid Cards to avoid the hassle of foreign currency exchange.
What is a Forex Prepaid Card, and how does it work?
These are smart and convenient options that allow you to load the required currency and make transactions at merchant outlets or on e-commerce sites by simply swiping the card. The card can also be used to withdraw money from ATMs.
The following are some of the advantages of using a Forex Prepaid Card while studying abroad:
Safe and practical: For students studying abroad, carrying a Forex Prepaid Card is a safe and convenient option. It is much safer to travel with a single card rather than cash. Students using ICICI Bank’s Forex Prepaid Card can make online payments using the new 3D Secure and CHIP & PIN technology.
Online transactions made simple: As a student, you can make online payments at a variety of merchant outlets using a Forex Prepaid Card. You can also get cash right away using the card’s ATM withdrawal feature. You can reload or refund your ICICI Bank Student Forex Prepaid Card in just a few clicks using Internet Banking or the iMobile Pay app.
Easy to use: Using a Forex Prepaid Card is similar to using a credit or debit card. In the event that your card is stolen or misplaced, you can simply contact Customer Service or block your card using Internet Banking or the iMobile Pay app. ICICI Bank, for example, has a Self-care portal that serves as a one-stop shop for managing, spending, resetting ATM PINs, blocking/unblocking cards, and much more. If your primary card is lost or stolen, the bank also provides a free replacement card or replacement card PIN.
Carrying a Prepaid Forex Travel Card is always a more cost-effective option than carrying a traveler’s cheque. Aside from that, the card comes with a slew of other perks, including free ATM withdrawals and lower transaction fees, to name a few.
Locked-in rates that don’t fluctuate: If you take foreign currency in cash, the exchange rate will fluctuate. You won’t have to worry about exchange rate fluctuations if you use a Forex Prepaid Card. By loading the card with different currencies, you can avoid cross-currency fees.
Online Issuance & Wallet-to-Wallet Transfer: If you apply for a Forex Prepaid Card online, it will be delivered to the address you specify. You can also send money from your wallet to your wallet instantly or use the card to get cash.
If you have a Student Forex Prepaid Card, you can immediately refund any unused balance by using the iMobile Pay app, Internet Banking, or visiting any Bank Forex Branch.
Student Forex Prepaid Card can be easily obtained by a student planning to study abroad. The card comes with 15 different currency wallets. You are not required to have a Bank Savings Account. You can get a joining benefit worth Rs 5,000 when you join, which includes membership, card insurance, and lost card coverage, among other things.
