Hyderabad is famous around the globe for its historic buildings. However, in recent times it has further gained fame due to its study abroad aspirants. However, the venture of studying abroad is not devoid of challenges. One such example is the financial management. Therefore, this article will discuss the forex cards which can be a solution to your monetary issues. In addition, the study abroad consultants in Hyderabad will share the benefits of this card.

Meaning of a Forex Card for Students

You must be wondering what is a forex card. Well, it is a prepaid card which can be used exactly as an ATM card. Further, you can load money into it from your savings account. The following are a few features of a forex card:

• Spend money in different currencies
• Access a fair exchange rate
• Lower fee for the money conversion
• Cash withdrawal at any ATM around the globe

However, before selecting a suitable card make sure of factors like the transaction and insurance fees and more. The study abroad agents from various consultants have further discussed some major perks of these cards.

Advantages of a Forex Card for Studying Abroad

The Forex card can be one of the most effective ways if you want to avoid carrying money overseas for your studies. It will further help you make dealings hassle free and exchange efficient. Thus making it easy for Hyderabad students to manage their expenses while overseas. Unlike global cards, students studying abroad will have to pay zero or lower rates to withdraw money. A few more benefits of using a forex card are the following:

Exchange Rate

A forex card will save you from the risk of a fall or rise in the value of exchange rates. This is because the rate gets fixed at the time of depositing the money. It will further help you to save the money that you could have lost due to changing exchange rates.

Global Acceptance

These are accepted all around the globe since you can load a Forex card with multiple types of currencies. Therefore, making it easy for Hyderabad students to use them while studying abroad in any nation.

Markup Fee

Some banks charge 2.5 to 3.5 per cent on dealings that are made using a debit or credit card. However, when you are using the amount loaded on the card, then this extra charge is not applicable.

Safe and Convenient

Rather than carrying the sum in cash, it is much safer to do so in the form of a Forex card. Moreover, Hyderabad students can use these cards for both withdrawing money and shopping. It further protects any online payment made.

Easy Management

As per the study abroad consultants in Hyderabad, the forex cards are easy to maintain. In addition, if you misplace the card, you can block it using a mobile app or net banking. Similarly, you can use these two ways to load the money into the card.

Easy Refund

If you have completed your studies, you can easily transfer the remaining amount on the card to your bank account. However, all you will have to do is visit your branch.

Attractive Deals

Other than all the above advantages, these cards also have many offers and discounts for Hyderabad students.

Now that you are familiar with the perks of a Forex card, let’s check out the list of these cards for you.

Best Forex Cards for Students

There are several different types of forex cards available to Hyderabad students. Therefore, the study abroad consultants in Hyderabad suggest that students compare their features before making the choice. Some of the forex cards are as follows:

• Niyo global card
• HDFC multicurrency platinum
• ICICI bank student card
• Induslnd multicurrency
• Fly finance
• Axis Bank Club Vistara
• Wise borderless card and many more.

Further, when choosing a Forex card for yourself, go through the following features:

• Issuance fee
• Reload fee
• Reissue fee
• Cross currency charges, etc.

Next, let us see how you can apply for a Forex card.

How to Apply for a Forex Card?

The process to apply for a Forex card can vary depending on the card you choose. However, the common way of getting this card for studying abroad includes the following steps:

• You can apply online or visit a branch of the specific bank.
• Select a card that is suitable for all your needs.
• Fill out the form for the same.
• Submit the papers that are required during the process.

Conclusion

In conclusion, if you want to take money with you while studying overseas, then the Forex card is the best option for you. When selecting a card for yourself, do not forget to get assistance from your study abroad agent to make a learned decision. In addition, experts like Gradding.com can also help with other arrangements for studying in a foreign college. They further offer free flight tickets and cashback to support their students financially.