Forex cards are a handy alternative to carrying cash on a foreign trip. A forex card works like a debit or credit card, and you can easily keep it in your wallet. They act as plastic money and offer advanced security measures for fund and identity protection. If you want one, you would like to know the eligibility criteria and documents for the same. Let’s look at that in detail in this article.

How to find the best forex card in the market

It is crucial to compare the features and fees of different forex cards before choosing one to ensure it meets your needs and budget. It may also be a good idea to consult with a financial advisor or a representative from a foreign exchange service provider to get more information and guidance on choosing the best forex card in the market.

Features to look for in a forex card

When choosing the best forex card, here are some features to consider.

• Currency options

Consider whether you need a single-currency or multicurrency forex card, and ensure that the card offers the currencies you will need for your travel.

• Exchange rates

Compare the exchange rates offered by different forex cards to find the one that offers the most favourable option. It is advisable to look for a zero-markup fee forex card to get the best value.

• Fees

Look at the fees charged by different forex cards, including transaction fees, ATM fees, and fees for reloading or withdrawing cash from the card.

• Rewards and discounts

Some prepaid forex cards offer rewards or discounts on purchases made with the card, or when using the card at certain merchants or locations. Look for these offers to get additional value from your card.

• Security features

Look for forex cards that offer additional security features such as pin protection and fraud protection.

• Customer service

Consider the customer service offered by the issuer of the forex card. Look for a card from a service provider that has good customer service.

• Ease of use

Consider the ease of use of the forex card, including how easy it is to load with currency, how easy it is to use at merchants and ATMs, and how easy it is to check the balance and manage the card online.

Forex card application process

The process for applying for a forex card typically involves the following steps:

• Choose a forex card
• Check the eligibility criteria
• Collect the required documents
• Fill out the application form
• Submit the required documents and application form
• Wait for the approval

Documents required for forex card application

Here are some documents you need to apply for a forex card.

• Forex card application form
• Passport
• PAN
• Visa
• Air Ticket
• University Offer Letter /I-20 in case of Students/ Job offer letter if purpose is employment.

Best place to buy a forex card

Money exchange service providers are generally the best place to buy a forex card because they offer a range of benefits. They have a wide network of branches and online services, making it easy for you to obtain and use a forex card at an interbank rate. Forex cards from such service providers often come with convenient features such as the ability to check your balance online, the ability to reload the card with additional funds, and the ability to block the card if it is lost or stolen. 

Foreign exchange service providers also offer competitive exchange rates and fees, which helps you save money. They also have good customer service, which can be helpful in case you have any issues with your forex card.

Bottom line

Applying for a forex card is an easy process that you can finish in no time. You can enjoy a range of benefits when you qualify and obtain a forex card. By choosing a forex card at an interbank rate from a reliable foreign exchange service provider, you can be confident that you are getting a reliable and convenient option to carry money when traveling abroad.
If you are looking to get the best forex card, Orient Exchange can help. We offer forex cards at the best exchange rates and without any hidden charges or markups. Contact us today to know more details about our zero-markup fee forex card services.