In this modern age, most consumers opt to avail goods and services via the web; this is mainly due to the speed, ease and convenience these options offer. And especially with the rise in popularity of online shopping, settling payment transactions through the Internet has become the norm. Since a lot of online transactions involve the transfer of money overseas, most buyers and merchants alike find themselves having to deal with the hassles of foreign exchange, which may cost them both time and money. So much so that finding an easy way to deal with differing currencies might seem like a necessity most of the time. This is where using a multi-currency card can help consumers save both time and money when it comes to online shopping.
What is a multi-currency card?
A multi-currency card (sometimes also referred to as a Forex card) is a physical or virtual card not too dissimilar to that of an ordinary debit card. You can use it to withdraw cash from ATMs and pay for goods and services in person, but it can also be used to pay for said items online. What makes it truly stand out from popular payment services (such as PayPal and Paxum) is that you can add money to your card with up to around 16 of any foreign currencies of your choosing. Multi-currency cards are designed with international and online use in mind; for both consumers and for businesses alike it’s always important to have the means to send instant bulk payments worldwide. These cards make international payment transactions go much faster and much more cost-effective than ever before.
How does a multi-currency card help you save money?
There are a multitude of ways a multi-currency card can prove beneficial in saving money. The main one involves forex; using a multi-currency card will more often than not get you much better foreign exchange rates as compared to just using cash. No need to risk your cash losing value or to pay extra fees from fluctuating forex rates, since conversion rates are locked-in once you load the card. There are also other features such as zero cross-currency charges and an expenses tracker that are helpful in managing your money. All in all, using a multi-currency card is outright better than using a standard debit or credit card, and it massively benefits both consumers and businesses who find themselves needing to deal with international transactions frequently finance-wise.
Multi-currency cards (or Forex cards) are a new and great option when it comes to online and especially international transactions. Since it allows users to pre-load any kind of foreign currency in one card, a multi-currency card is both convenient and beneficial in saving money, especially for any overseas expenditures. If you often find yourself traveling around the world – whether it be for business or leisure – or your business relies on sending bulk payments worldwide, then availing for a multi-currency card may be the cheapest and most efficient option available for you.