What is a forex card? Everything you need to know about it is right here – Prune

Do you travel internationally often? Then a forex card is a must to take along with you. It makes travel easy as it carries the foreign exchange for your expenses abroad. You can preload it with your preferred amount of foreign currency, and it is a safer way to travel instead of cash. 

Foreign exchange is one of the most significant factors to consider while arranging a vacation overseas. While there are various options for converting the Indian rupee to foreign currency, many travellers choose to use a forex card. However, what is a forex card and how does it work? Let’s understand its concept. Read on! 

What does a forex card mean? 

A forex card, also known as a travel card, is similar to a debit/credit card concept. As an international traveller, you can preload your card with a foreign currency of your choices, such as the dollar, euro, pound, or yen. The forex card can then be used to pay bills in the local currency of the destination, just like a debit card. 

You may use your travel card to pay for everything, such as hotel reservations, shopping, local transport, and restaurant bills. You can also use the card to withdraw local money from ATMs in other countries. 

What are the many kinds of forex cards? 

Forex or travel cards can be split into two categories – a single currency forex card and a multi-currency forex card. Let’s take a closer look at these two types of cards offered by Prune. 

Single currency forex card – A single currency forex card can be used when travelling to only one international destination. When travelling to a specific country, you can fill this card with money for your use. 

Multi-currency forex card – A multi-currency forex card works more flexibly. You can preload this card with several foreign currencies. If you plan to travel to multiple destinations, you will need different currencies for your expenses. So you can get this card that will meet your needs better as you can shift from one currency to another. 

What is the purpose of a forex card? 

As discussed earlier, a forex or travel card works similarly to debit/credit cards. They are an approved way of carrying foreign currency worldwide and are much safer. But how does a forex card work? 

The first step is to apply for a card on the Prune app or website. You will receive a card with a pin once your application has been approved. Then you can replace the pin. And to load the card with the necessary amount and currency, use the Prune platform, and you’re ready for your travel. 

So swipe your currency card while you pay for something while travelling. You will receive a notification of your transaction and balance, just as you would with a debit/credit card. 

However, you must understand that forex cards are not accepted everywhere. There could be places of purchase that demand only cash, so it’s best to prepare for that. And with a single currency card, you can only make the payment with the currency it’s preloaded with at the time. It might not work for other currencies or incur additional charges. 

You can use the Prune app or website to fill your forex card with currency. Now it’s all about a digital world, and you can obtain the finest deals on the platform if you have a forex card. You can purchase without any restrictions as a traveller with a forex card. Now you can avoid long lines when exchanging currency and forget the problems of carrying large amounts of cash in your pocket. 

What are some of the benefits of using a forex card?

Forex card gives you plenty of benefits while you’re travelling overseas. The following are some of the most significant advantages of using a forex or travel card: 

  • Even before you begin your travel, you receive a card that is preloaded with the currency of your choice. 
  • You can recharge the card on the Prune app or website from anywhere and at any time. 
  • Forex cards give the best exchange rate deals than buying foreign currency in cash. 
  • Like debit and credit cards, forex cards use a pin to protect your money. It makes forex cards a safer option to carry foreign currency than cash. Your forex card can also be instantly stopped if lost or stolen. 
  • Prune offers the best deals on forex cards, and you can purchase one on the app and website from the comfort of your home. 

Why Prune should be your go-to choice for forex cards? 

No fees: There are no fees associated with getting the card issued on the Prune app and website. And you don’t have to pay anything to reload or unload the card. It allows you to spend less money on the card and save it for other purposes during your travel. 

Accurate interbank rates: You can load your Prune forex card with foreign currency at accurate interbank prices. With this, you save about 2% compared to the other modes of payment. A forex card from Prune is your best bet to enjoy your time abroad. 

Free insurance coverage: If you face fraud while travelling, our insurance policy helps resolve the problem. As a result, you may relax and enjoy your trip without worry. 

Prune is a trusted platform for travel-related services. If you’re seeking a forex or travel insurance policy, we have got your back. We also offer other exceptional services such as SIM delivery, travel experiences, utility bill payments, and smartphone comparison feature. 

Download the Prune app or visit the website!

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