Prepaid travel cards, also well known as currency cards, allow you to load them before you travel abroad. You can use these cards as a debit card for making a purchase or withdraw cash. Since they can be preloaded, it allows you to keep a control of all your spending. You can also lock in a rate beforehand.
How Are These Better Than Others?
Debit and credit cards levy a service charge of three percent every time you use it. Withdrawals at ATM’s would lure an extra fee. You would be billed at the exchange rate prevalent on the date of transaction and charged a currency conversion rate accordingly. Any delay in bill payments will impose a penalty. Travelers cheques are only accepted at selected outlets and consumers are charged an encashment fee of three to six percent. The forex one currency card
is cost effective, since the exchange rates are locked whenever you make a transaction.