If you are a student traveling abroad for your studies, you are full of apprehensions and your major concerns are centered on cost and expenditure. About 80% of students face challenges in handling their finances in their first academic year in school. For a moment, consider a situation where you are in an emergency or sick and require cash immediately. Calling home will take longer time than expected. What will you do if the situation is a matter of life and death? What will you do? Where will you source for funds within the shortest period of time? Nevertheless, to avoid such fund crisis; it is important to get or carry a forex card abroad.
If as a student you still haven’t found any reason why you need one, this article will enlighten you of the benefits of having a forex card. It is not about how to transfer money to forex cards but what you stand to get when using a forex card. Without further ado, let us begin!
Zero Exchange Rate Fluctuation
Forex card is the best way of handling your money without stress especially when traveling abroad for studies. Furthermore, before leaving to your preferred destination, you can lock the exchange rate if you think it is favorable. For example, if you are traveling to the United Kingdom and the Pound is going strong, you may consider locking the exchange rate
Reload on the go
Who doesn’t have a smartphone in this 21st century? With your smartphone, the world is at your fingertip. Most forex cards allow you to reload your money using an app on your smartphone. It is quite easy to reload your money if you have funds in your bank. Students who want to be well-prepared and organized may consider having a forex card that allows you to instantly load it through an app as something exciting and hassle-free.
You cannot pay cash online when you want to buy stuff. However, forex cards stand as the perfect instruments in making payment online. Be it your accommodation charges, university fees, or any other expenses, you can use your forex card to clear them up without stress. If you are using Debit or Credit card, you will have within 3-5% cross conversion charges, which is absolutely unnecessary especially when using forex cards.
Secure and safe
Once your cash with you get robbed in a foreign country, you can considered yourself doomed unless you have someone who can help out because there isn’t any assurance of getting your cash back. It doesn’t matter if you report the incident to the relevant authority, your cash is gone. However, a forex card is linked to a secured network, which is protected by a pin and a chip. They are not connected to your credit card or bank account; therefore if they get stolen, the thief doesn’t have access to your money.
David Ham in this article emphasizes the importance of forex card for students studying abroad. He gave an insightful view on how forex card is helpful in cases of emergencies.