This newly-launched forex card charges zero cross currency or ATM fee. Check details
This card is well suited for international students and travellers who are planning to go abroad for employment, immigration, and to exotic locations such as Vietnam, Indonesia, Central Asia, South America, and other lesser-known destinations, as it does not entail any cross-currency charges.
While speaking about the launch, Sudarshan Motwani, Founder and CEO of BookMyForex.com, says: 'While the appetite for international travel among Indians continues to grow, especially to emerging destinations like Vietnam, Uzbekistan, Kazakhstan, Indonesia, the Philippines, Cambodia, and Azerbaijan, most existing forex products still fail to solve one of the biggest challenges — cross-currency fees and hidden conversion charges. Whether it's credit cards, multi-currency cards, or even so-called zero-markup cards, travellers often end up paying 3 percent to 5 percent extra on every transaction when spending in unsupported local currencies.'
Key Benefits of the Global Forex Card
Zero markup: This forex card offers complete transparency with forex rates and comes with no markups or extra conversion costs. The users can enjoy free international ATM withdrawals for convenient access to cash while abroad.
No charges: There are no issuance, reload, unload, or annual charges, ensuring full cost transparency and zero surprises.
Launch Offer: For a limited time, it offers two exclusive benefits on its all-new Global Forex Card. There is up to two percent cashback on every new forex order. Customers get forex at rates up to two percent lower than interbank rates, i.e., the rates seen on popular search engines.
The maximum cashback, however, is capped at ₹7,500. Nitin Motwani, Founder and CTO, BookMyForex commented, 'Today's global traveller is more informed and value-conscious. They don't just compare airfares or hotel rates before planning their travel—they also compare forex rates and very well understand the hidden charges associated with foreign exchange. The Global Forex Card is built for this new kind of traveller. Whether it's avoiding hidden rate markups and cross-currency fees or accessing cash abroad without ATM surcharges, we've focused on removing every kind of charge possible.'
Also Read | What are the benefits of linking UPI to your credit card?
The single-currency forex card can be booked through the BookMyForex App or website.
It is also offered to international students, irrespective of the destination currency. Same-day delivery is available for orders placed before 1 PM on a working day. BookMyForex is a MakeMyTrip Group company.
Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
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