Travel cards have become very popular over the years mainly because of the convenience and security they offer. Being the easiest way to buy foreign currency and take it overseas, travel cards such as gocash are a big hit among frequent travellers. Industry experts have claimed that apart from being the safest option, travel cards are also the cheapest option for travellers, especially for those who are travelling on a budget. These travel cards offer a host of benefits when compared to credit or debit cards.
When compared to traveller’s cheques or carrying hard cash, travel cards are a better option because these cards can be pre-loaded with money of a single currency or even multiple currencies, based on your travel plans. Most cards offer standard currencies such as US Dollars, UK Pounds, and Euros, as well as other world currencies ( gocash offers upto 16 world currencies). Once the travel card has been topped up, they can be used as a regular debit card to withdraw cash from ATMs, buy products, online purchases, pay bills, flight tickets and for many other expenses.
Benefits derived from travel cards when compared to credit/debit cards:
- Facility to lock ideal exchange rates for future use. So, no matter how badly the currency fluctuates, the amount loaded onto the card does not get devalued.
- The flat ATM withdrawal fee for travel cards is much lower than the charges associated with debit/credit cards.
- A single travel card can be loaded with multiple world currencies at the locked exchange rate. Spending in local currency means, not having to pay any conversion fees!
- Since these cards are loaded with a fixed amount of money, the temptation to overspend is curbed. There is no overdraft facility in travel cards.
- These cards are absolutely secure and should they get lost, a lot of the issuing banks will replace the card almost anywhere in the world. Also, losing these cards means you are losing only a small amount of fixed money and not all your money.
- Travel cards offer free travel insurance, which credit/debit cards usually do not provide.
No stress, no fuss and wherever you go, cash is available. Armed with this information, now travel with peace of mind.
Have you got your travel card yet?