When does a multi-currency card help you?

Ever traveled to another country and found that you’ve run out of foreign exchange, or had the misfortune of having had your traveler’s cheques stolen?
In such times of instant cash, the multi-currency card might just be the right thing to have.

What is a multi currency card?

This is a card that works like plastic money, where you can make purchases with a quick swipe, just as you would with your credit card. You can use it at ATMs and recognized VISA enabled points of sale, is prepaid in nature and can be loaded with dollars, euros or pounds, but can be used in the local currency of any country you visit.

Advantages of multi currency card:

1.Convenience: It allows you to pay in the currency, with which you are most familiar, which means your shopping experience is positive from a financial aspect.
2.No surprises: There are no surprises with the multi currency card - what you pay for on your travels, is what is reflected in your card statement, exactly.
3.No transaction Fee: unlike the credit card, there is no transaction fee associated with any transfer, exchange, or purchase.
4.Fixed rate of exchange: With credit cards, the rate of exchange applied is the day’s rate, which might not be favorable. With the multi currency card, the rate of exchange is fixed the day you purchase the card.

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