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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.
When you are gearing up for an international trip, one important thing to think about is how you’ll handle expenses abroad. With the convenience of Forex cards now available, it's worth finding out what suits your travel style best. Instead of carrying cash or using your credit card in another country, a travel card offers a safer and more efficient payment method. It works seamlessly at ATMs, retail stores, restaurants, and hotels across the globe.
Let’s explore the benefits of Forex cards to understand why they are becoming a preferred choice for travellers worldwide.
1. You save more with locked-in exchange rate
This is one of the most important advantages of Forex cards over credit or debit cards. When you load a Forex card, you get to lock in the exchange rate at that moment. So whether the currency rate goes up or down during your trip, it doesn’t affect you. You don’t end up paying more than what you planned.
Let’s say you’re going to Europe and load your Forex card with euros when the rate is ₹90. Even if it jumps to ₹95 later, your expenses are still calculated at ₹90. This kind of rate protection helps you plan your budget better and avoid surprise costs.
2. No extra markup or hidden charges
When you swipe your regular debit or credit card abroad, there’s often a 3-5% foreign transaction charge added to every purchase. Not to mention currency conversion fees, GST and other charges that are hard to track.
With a Forex card especially one from a trusted bank, these fees are either minimal or non-existent. The amount you spend is deducted in the loaded currency—simple and transparent.
3. Multiple currencies on a single card
A good travel card allows you to load more than one currency. Kotak Forex cards is available in 15 currencies including USD, EUR, CAD, AED, SGD and more—all on the same card. That means there is no need to carry different cards or convert cash multiple times. For example, if you’re flying from Delhi to Dubai and then heading to London, your Forex card can have both AED and GBP loaded. It automatically deducts from the right wallet based on where you swipe.
This is one of the top advantages of travel card options compared to cash or traveller’s cheques which are not only outdated but also can be inconvenient.
4. Safe, secure and easy
Let’s be real—losing cash abroad is scary. But if you lose your Forex card then you can instantly block the card through your bank’s app or customer care. Kotak Mahindra Bank also allows you to reload the card online or through Net banking.
Plus, you get SMS and email alerts for every transaction, so you stay in control. It works like your regular card with PIN protection and chip security. And just in case, some cards also come with an add-on backup card which you can activate if your primary card is lost.
5. Helps you stay in budget
When you travel with a prepaid Forex card, you can load only what you plan to spend. This avoids over-spending or going over a credit limit. It’s a great tool if you’re someone who likes to track travel expenses and stick to a daily budget. And since you can check your balance and transactions in real time via an app, there are no surprises later.
6. Accepted worldwide
Visa and MasterCard Forex cards are accepted at millions of locations across the globe. From hotels to cafés—you won’t have to worry about whether your card will work. This is why so many travellers especially students and first time flyers prefer a travel card over cash or even an international credit card.
7. Emergency assistance and global support
Good travel cards come with round-the-clock customer support especially helpful if you’re in a different time zone. Some also offer emergency cash delivery and card replacement services in case of loss or theft. Kotak Forex Card comes with 24x7 Global Customer Assistance (GCAS) by Visa for lost or stolen card support, emergency replacement and more, wherever you are.
When does a Forex card make sense?
A Forex card is especially useful when you're travelling internationally—whether it's for higher education, a work assignment or just taking a well deserved vacation. It helps you stay prepared and in control wherever you go.
The advantages of Forex card options far outweigh the alternatives. With Kotak Mahindra Bank, you get easier reloading options, security features and wide acceptance. In the end, it’s not just about convenience, it’s about being prepared and avoiding unnecessary stress during your trip. Check the Forex card eligibility and apply in advance to make sure your card is ready before you travel.
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