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Traveler Cheques Vs Forex Card

HomeTraveler Cheques Vs Forex Card

Travellers Cheques are a safer way to carry money when travelling abroad. Travellers Cheque (TC) can be encashed as and when you require the money.

Key features/benefits of a TC are 

They can be encashed only against your signature, unlike cash which can be stolen and misused by anybody, immediately Loss of Travellers Cheque can be reported anywhere in the world by making a single phone call and the pre-fixed amount on the cheques are made refundable. Forex Cards are Pre-paid Cards* that offer customers a convenient and secure way to carry foreign currency. Teiforex offers Forex cards of reputed Banks

Key features/benefits of a forex card are:

  • It can be used at all Visa/Master Merchant establishments worldwide
  • It can be used for online purchases/transactions E.g. pay bills, buy air tickets, etc
  • It can be encashed anytime and in any ATM
  • It is reloadable even when the cardholder is abroad
  • Hassle free loading of card – exchange rate based on Inter Bank Rates
  • It gives protection against Exchange rate fluctuations – foreign currency is fixed when the card is loaded and not when it is used (unlike an International Credit Card)
  • The primary card can be hotlisted incase of loss and balance can be transferred to the issued add on card
  • Residual cash can be easily redeemed after the journey