What is an international travel car, and how do you get one?

An international travel card is a forex card that can be used on your travels abroad. It offers an easy, safe, and cashless way to manage your hard-earned money abroad. It can take care of your expenses, such as buying tickets and paying at restaurants, hotels, and stores without any extra charges. It is similar to that of a credit card. It is accepted worldwide and swiped on PoS terminals and ATMs to make purchases and cash. 

There are two types of forex cards - a single currency and multi-currency forex cards.  A single currency forex card allows you to load only one foreign currency at once and is suitable for travelers traveling to one country. As with a multi-currency forex card, you have the luxury to load multiple foreign currencies at once and travel the world without incurring currency conversion charges. The best part is that it protects you against fluctuating foreign exchange rates throughout your travels abroad.

Reasons to get a multi-currency international travel card

A multi-currency forex card comes with several features and features that you can avail yourself of while traveling abroad, such as:

• As mentioned earlier, it enables you to load it with multiple foreign currencies at once. The number of foreign currencies allowed to load onto a forex card varies across card issuers in India. Generally, it ranges between 10 to 20 foreign currencies.
• It has all the security features of a credit card. It means that your transactions are safe and secure.
• The foreign currency rates are predetermined at the time of loading, and it remains unchanged throughout the journey, ensuring protection against foreign exchange rate fluctuations.
• While loading the forex card, you can avail yourself of affordable foreign exchange rates.
• A forex card enables you to make international bookings and payments at hotels, restaurants, clubs, cinemas, stores, airlines, and petrol stations at zero or minimal extra charges.
• It also allows you to withdraw cash from any pre-approved international ATMs abroad. You will have to incur a flat withdrawal fee on each transaction.
• It eliminates the hassle of standing in long queues to buy or exchange foreign currency.
• If you happen to lose or misplace your forex card, you can inform the bank and freeze the balance to prevent any misuse. A new forex card will be issued at a nominal fee.
• After returning to India, you can request the bank to transfer the balance amount to your bank account.
• It enables you to keep track of your expenses and check your balance through instant SMS & email alerts.

How to get an international travel card?

To get an international travel card, you will need to meet some requirements and furnish the relevant documents. You must meet one of the following requirements to get a multi-currency international travel card:

• You must be an Indian citizen residing in one of the cities in India, or
• You must be an employee of a corporate traveling abroad for business or official purposes, or
• You must be a parent or sponsor of a student traveling abroad for higher studies, or
• You must be an ex-pat residing in India.

It is worth noting that all employees of corporate companies and ex-pats residing in India are subject to KYC norms. Parents and sponsors of the student can get a forex card in the name of the student.

Documents required to get a forex card

It is mandatory to possess the following documents or furnish details for the same along with your application to get an international travel card:

• Passport
• A travel visa
• PAN Card or Form 16 (if you are loading more than Rs. 50,000)
• Aadhaar Card or Any KYC Document as required (if the address is different from the one mentioned in the passport)