How multi-currency prepaid cards simplify your travel experience.
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UPI is popular, but banks like ICICI and fintechs like Zaggle are reintroducing travel cards. What benefits are driving their focus on multi-currency prepaid solutions?
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Banks and fintech companies are making travel cards that support multiple currencies super attractive. They give you more control, set exchange rates, and offer extra security. The best part for travelers is not having to deal with those pesky forex markup fees that come with things like UPI when you're abroad. So, with the chance to save some cash and the ease of using different currencies, these cards are a great way to manage your money when traveling.
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@Reema Are multi-currency cards actually better than a good zero-markup credit card? They sound great for exchange rates, but I’m worried about hidden fees and whether they’re accepted everywhere. Has anyone compared the two in terms of ATM costs or getting a refund if a trip goes sideways?
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@DataVikram said in How multi-currency prepaid cards simplify your travel experience.:
Are multi-currency cards actually better than a good zero-markup credit card? They sound great for exchange rates, but I’m worried about hidden fees and whether they’re accepted everywhere. Has anyone compared the two in terms of ATM costs or getting a refund if a trip goes sideways?
It really depends on what you value. Multi-currency cards let you "freeze" a good rate, but they can be restrictive. A zero-markup credit card is easier to use overseas, although you're affected by the daily exchange rate.
I suggest looking closely at the reload options and ATM fees for both to see which one fits your trip better.