By Gagan Malhotra
When planning an international trip, most Indian travellers look for a forex card with zero markup where travellers can load foreign currency at the exact interbank rate, avoiding the 2-3% markup fees in exchange rates. Zero markup is only a baseline ask. The real value lies in advanced, app-powered features that offer safety, control, and convenience. Here are five such forex card features to watch out for:
Bank-grade in-app security
Beyond zero markup, travellers should look for a forex card that offers app-based control. Unlike traditional forex cards that require a call to customer care or a bank for even basic actions, app-linked forex cards put control in the hands of the traveler. With bank-grade security integrated into the mobile app, cardholders can lock/ unlock the card, change the PIN, all with just a few taps. Beyond just safety, the app offers intelligent control features such as setting customised daily limits or enabling/ disabling online transactions, ATM withdrawals, and contactless payments through simple toggles.
Real-time transaction tracking
Travelers should look for a card that offers real-time spend tracking. A forex card linked to a mobile app gives travelers that visibility. Every swipe or withdrawal is recorded in real time, with instant alerts that help track transactions across countries and merchants. For multi-currency cards, balances are displayed separately for each currency, removing the guesswork and ensuring travelers always know what’s left to spend. This transparency not only supports smarter spend management but also acts as the first line of defence against suspicious activity.
Instant reloading
With traditional forex cards, reloading is a complicated process that involves visiting a bank, filling out lengthy forms, and then waiting for days for funds to reflect. Modern forex cards eliminate this friction. The best options allow instant reloads through a mobile app, with funds credited almost immediately, whether the traveller is in India or abroad. The same convenience extends to encashment once the trip ends, as the remaining balance can be transferred back to the bank account seamlessly with just a few taps.
Disposable virtual cards
Another feature travellers should look for is the availability of disposable virtual cards. These are digital versions of the physical forex card, each with its own unique number and CVV, generated through the app. They can be used for a single online purchase and then disposed of, ensuring the primary card details remain hidden. This adds an important layer of security when shopping on international websites that may not follow India’s OTP-based authentication standards.
Card insurance
Consider the extra in-app features that make life easier abroad. An ATM locator, for instance, can be invaluable, using GPS to guide travellers to the nearest compatible machine and helping them avoid unreliable options. Many forex cards also bundle travel-friendly benefits such as complimentary insurance coverage and round-the-clock emergency assistance. These features may not seem critical at first glance, but they can make a significant difference in real-world travel situations.