Just like a debit card, a prepaid multi currency card allows us to put an amount of money in the card out of our bank account, which we can use for payment in abroad countries in their currency. Similar to debit card, they also are protected by a 4-digit pin which prevents anyone else from using from using it. This code is provided in a sealed cover instead of indicating on the card itself.
We have tie-ups with the top banks in India to distribute prepaid multi currency cards to our customers. They are available in various currencies such as U.S dollars, Canadian dollars, Australian dollars, Pound, Euro. Currently the multi currency card is available for 17 currencies. It can be used in any country where visa is accepted and there is no need to book the card in advance.
Even if the amount in the card is finished, it can be loaded on short notice. Normally the cards have a validity of 5 years but further conditions of warranty may exist from one card company to another. The balanced amount left in the card can be encashed or can be carried over for another time, as long as it is within the expiry date. Along with the main card, an add-on card is provided. In case the main card is lost, you can call the bank to activate the add-on card while deactivating the original card.
One thing that has to be noted is that a person can hold a card of only one currency at a time from the same company. This means that in case we are travelling on a trip involving visiting USA and Canada, and for both currencies we want to carry a multi currency card then we would have to select from different banks. A multi currency card allows us to spend in different currencies using the same card.
But you can relax about that. Whether it’s the RBI guidelines, and any other potential constraint that may happen, we here at RPFX are here to guide you every step of the way. You leave the financial responsibilities to us and make sure to have a great and enjoyable trip!