Knowing the right facts about Forex cards is just as important as getting your visa or flight sorted. Studying abroad is a big step, and while you’re ticking off essentials on your pre-departure checklist, don’t forget to plan how you’ll manage your money after landing.
Carrying wads of cash isn’t safe. Using your Indian debit card can be expensive. And waiting for international money transfers? Not ideal in an emergency. That’s where Forex cards come in.
If you’re hearing this for the first time, don’t worry we’ve got you covered with all the key facts about Forex cards that every Indian student should know.
Top 10 Facts About Forex Cards Every Student Must Know
1. Pick the Right Kind of Forex Card
First up, not all Forex cards are the same. Some let you load just one currency which is great if you’re going to stick to one country. Others, like the multi-currency cards offered by Unipay Forex, allow you to carry multiple currencies at once. It comes handy if your course involves travel.
Example: Studying in Germany but planning a short trip to France and Italy? A multi-currency card saves you the headache of exchanging money in every country.
2. They’re Safer Than Cash or Debit Cards
One of the most important facts about Forex cards is their built-in security. Let’s say you misplace your card during your first week in Canada. With Forex cards, you can block the card instantly, unlike cash, which is simply gone.
And unlike using your Indian debit card abroad (which might invite hefty transaction fees and dodgy conversion rates) a Forex card lets you spend without surprises.
3. Reloading Is Quick and Easy
With our smooth reload system, you don’t have to call home in panic when you run low on funds. You or your parents can add money online from India, and it reflects quickly.
Real-world worry: “What if my rent is due and I’m short?”
Answer: Log into our contact support, and you’ll have funds loaded often within hours.
4. Forex Cards Are Secure
Your Forex card isn’t just a swipe-and-go card. It comes with EMV chip tech, a PIN, and extra safety layers. If someone tries to clone your card, these protections can stop them instantly. If you are using Unipay’s Forex cards, you will get 24/7 support if something ever feels off.
5. Know the Fees and Charges (There Aren’t Many)
Among the practical facts about Forex cards, one stands out: always check the fee structure before using or reloading your card.
Let’s keep this honest, some Forex cards out there love hidden fees. Not Unipay Forex cards! With our Forex cards you get transparent pricing. No nasty surprises.
Know this:
- ATM withdrawals might carry a small fee, depending on the country.
- Using your card in a currency that’s not loaded could trigger a cross-currency charge.
- And if you let the card sit unused too long, there might be a small inactivity fee (but Unipay keeps this low and clear).
Tip: Always check the card’s fee structure before loading. A few minutes now saves a lot later.
6. Your Card Is Fully Compliant with RBI Rules
The Reserve Bank of India (RBI) regulates all foreign exchange transactions, and Unipay Forex cards comply 100% with these rules. That means your funds are handled responsibly and you won’t land in trouble later for using the wrong card or method.
Bonus: The Forex cards also work smoothly in your host country because they meet international payment standards.
7. Good Customer Support Is a Lifesaver Abroad
It’s 2 AM. You’re in a new country. Your card isn’t working at a café. Panicking? Not if your provider has 24/7 customer service.
Our support team is proactive and responsive to any of your immediate concerns. Whether it’s a card block request, a balance inquiry, or a reload issue, help is just a phone call or message away.
8. Some Forex Cards Come with Added Perks
Unipay’s Foreign Exchange Card isn’t just about spending, it’s also about smart protection. One of the lesser-known facts about Forex cards is that some come with insurance benefits, like cover against card misuse, accidents, or even lost baggage. It’s a small thing, but it matters when you’re far from home.
Example: Lost your checked-in luggage while flying into Toronto? If your card has baggage insurance, you could get compensation without dealing with endless airline emails.
9. Use It the Smart Way
Using your travel card properly, saves money and hassle.
- Swipe it in front of you. Don’t let anyone take it out of sight.
- Don’t use it for Indian Rupee transactions. This can lead to conversion fees. Stick to foreign currency use.
- Track your transactions online or via SMS/email alerts to stay in control.
Think of it as your wallet with benefits. Respect it, and it’ll serve you well.
10. Don’t Forget to Encash the Leftover Balance
When your course is over or you’re back home for a while, remember: you can’t keep foreign currency loaded forever.
RBI guidelines ask you to encash the remaining balance. With Unipay, the process is simple. Just request to convert the remaining money back into Indian rupees. It’ll be credited to your Indian bank account at the current exchange rate.
Bonus tip: Keep a note of your balance when you land in India, so you don’t forget about it weeks later.
Final Thoughts
Keep these facts about Forex cards in mind as you prepare to study overseas because smart money habits start with the right knowledge.
A Forex card from Unipay is like that reliable friend who’s always got your back. It’s secure, easy to use, and helps you focus on studying, not stressing about money.
Studying abroad is one of life’s most exciting adventures. Make sure your money travels just as smoothly as you do.
Need help choosing the right Forex card for your journey? Contact us today! We’ll guide you every step of the way.
