Forex Card vs Cash: What Should You Choose for Your Next Trip Abroad? | BookMyForex | 002

Traveling abroad comes with its fair share of excitement and challenges. One major concern for many is - which is a better option between carrying cash and using a Forex card? Here, we analyze the two options and shed light on their merits to help you make an informed decision for your next foreign trip.
Traditionally, cash has been the default mode of payment while traveling abroad for many people. It's simple and universally accepted. However, in a world that prioritizes convenience, forex cards present a more practical, secure, and cost-effective alternative.
When you travel to multiple countries, you may find it inconvenient to carry multiple sets of currency notes - not to mention the inherent risk of loss or theft. Here's where a Multi-Currency Forex Card comes in handy. It's a pre-loaded card that allows you to access money in the local currency.
Another significant advantage of forex cards is that they tend to be cheaper as compared to currency notes. The rates for currency notes are static and often pricier due to their limited availability, which drives up the rates even further.
On the other hand, forex card rates are determined by market dynamics and are made available at zero markups on interbank rates, such as BookMyForex cards. You can expect a difference in rates between forex cards and currency notes of approximately 1 to 3%.
Furthermore, if your cash is lost or stolen, the chance of recovery is practically nil. Forex cards, however, come with robust security features. They offer PIN protection, the option to lock the card if lost or stolen, a backup or add-on card, and free insurance coverage, among other benefits.
Convenience is another significant advantage of forex cards. You can link your card to the issuer's app, helping you keep track of your spending in real-time. With cash, you have no way of knowing how much you are spending unless you manually track each transaction.
However, it's worth mentioning that cash might still be indispensable in certain situations. In remote areas and for small merchants, cash transactions are often the only option. Therefore, it’s advisable to carry a small amount of cash while keeping the majority of your funds in a Forex card.
So, for your next overseas trip, consider the convenience, security, and cost-effectiveness of forex cards. Visit bookmyforex.com to order foreign currency notes or the true zero markup forex card and enjoy same-day delivery. Plan smartly, pack light, and travel worry-free!
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