A foreign exchange platform – BookMyForex – has rolled out Global Forex Card which is meant to eliminate the hidden costs of spending abroad. The card is loaded in US dollar and is accepted in over 200 countries worldwide. It offers savings with zero cross-currency fees, no ATM withdrawal or cash disbursement charges, besides cashback on zero markup forex rates.
This card is well suited for international students and travellers who are planning to go abroad for employment, immigration, and to exotic locations such as Vietnam, Indonesia, Central Asia, South America, and other lesser-known destinations, as it does not entail any cross-currency charges.
While speaking about the launch, Sudarshan Motwani, Founder and CEO of BookMyForex.com, says: “While the appetite for international travel among Indians continues to grow, especially to emerging destinations like Vietnam, Uzbekistan, Kazakhstan, Indonesia, the Philippines, Cambodia, and Azerbaijan, most existing forex products still fail to solve one of the biggest challenges — cross-currency fees and hidden conversion charges. Whether it’s credit cards, multi-currency cards, or even so-called zero-markup cards, travellers often end up paying 3 percent to 5 percent extra on every transaction when spending in unsupported local currencies.”
Key Benefits of the Global Forex Card
Zero markup: This forex card offers complete transparency with forex rates and comes with no markups or extra conversion costs. The users can enjoy free international ATM withdrawals for convenient access to cash while abroad.
No charges: There are no issuance, reload, unload, or annual charges, ensuring full cost transparency and zero surprises.
Launch Offer: For a limited time, it offers two exclusive benefits on its all-new Global Forex Card. There is up to two percent cashback on every new forex order. Customers get forex at rates up to two percent lower than interbank rates, i.e., the rates seen on popular search engines.
The maximum cashback, however, is capped at ₹7,500. Nitin Motwani, Founder and CTO, BookMyForex commented, “Today’s global traveller is more informed and value-conscious. They don’t just compare airfares or hotel rates before planning their travel—they also compare forex rates and very well understand the hidden charges associated with foreign exchange. The Global Forex Card is built for this new kind of traveller. Whether it’s avoiding hidden rate markups and cross-currency fees or accessing cash abroad without ATM surcharges, we’ve focused on removing every kind of charge possible.”
The single-currency forex card can be booked through the BookMyForex App or website.
It is also offered to international students, irrespective of the destination currency. Same-day delivery is available for orders placed before 1 PM on a working day. BookMyForex is a MakeMyTrip Group company.
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