Using a multi-currency prepaid forex card may incur transaction or foreign exchange fees that vary depending on the issuer and type of transaction.
Some standard fees associated with multi-currency prepaid forex cards include:
- Loading fees: Some issuers charge a fee for loading money onto the card.
- ATM withdrawal fees: Some issuers charge a fee for withdrawing money from an ATM using the card.
- Foreign exchange fees: When using your card to purchase a foreign currency, your issuer may charge a fee for foreign exchange. It is typically a percentage of the transaction amount.
- Convenience fees: Some issuers charge a convenience fee for using the card to make sure transactions, such as booking travel or making online purchases.
It is essential to read the terms and conditions of the card carefully to understand the fees that may be charged. You can also compare the fees of different issuers to find the best option.
You can withdraw Cash from ATMs using a multi-currency prepaid forex card. Multi-currency prepaid forex cards are a convenient way to carry multiple currencies when you travel. You can preload your card with your home currency and withdraw in local currency at your destination.
The issuer may charge a fee when withdrawing cash from an ATM using a multi-currency prepaid Forex card. This fee is typically a percentage of the withdrawal amount. When withdrawing money in a foreign currency using a multi-currency prepaid forex card, you will be charged a foreign exchange fee, a percentage of the amount you withdraw. The fees for withdrawing cash from an ATM using such a card may vary depending on the issuer of the card and the ATM network. It is essential to read the terms and conditions of the card carefully to understand the fees that may be charged.
There are several ways to check the balance or transaction history on your Unimoni multi-currency prepaid Forex card:
- Download the Unimoni app from the Google Play Store or the Apple App Store.
- Log in to your account.
- Click on the "Forex Card" window.
- Select the card.
- Click on the "Balance Enquiry" or "Transaction History" button.
You can also call Unimoni customer service at 1800 102 0555 to check your balance or transaction history.
You can also check your balance at any ATM that accepts Visa or Mastercard. Insert your card and enter your PIN. Select the "Balance Enquiry" option, and your balance will be displayed on the screen.
Multi-currency, prepaid forex cards offer several benefits compared to cash or credit/debit cards when travelling abroad:
Better exchange rates: Forex cards typically offer better exchange rates than banks or currency exchange bureaus. This is because banks and other financial institutions issue forex cards with access to wholesale exchange rates.
Lower transaction fees: Forex cards typically have lower transaction fees than credit/debit cards. This is because forex cards are prepaid, so the issuer does not need to process a credit or debit transaction.
No foreign exchange markup: Forex cards do not charge a foreign exchange markup, a fee often charged by credit/debit card issuers when using the card abroad.
Convenience: Forex cards can be used to make payments at any merchant that accepts Visa or Mastercard. You can use it for ATM withdrawals.
Security: Forex cards are more secure than carrying cash. If lost or stolen, report it to the issuer and transfer the balance to a new card.
Additional benefits: Some forex cards offer other benefits, such as travel insurance, purchase protection, and discounts on travel-related expenses.
Overall, multi-currency prepaid forex cards are a convenient and cost-effective way to manage your money when travelling abroad.
If your multi-currency prepaid Forex card is lost or stolen, you should take the following steps:
- Report the loss or theft: Reach customer service and report your loss.
- Cancel your card. This will prevent any unauthorised transactions from being made.
- Request a replacement card. Most card issuers will provide you with a replacement card without additional charges.
In the meantime, you can access emergency cash assistance from your card issuer. This service typically allows you to withdraw small cash from an ATM using a temporary PIN.
It is important to note that you may be liable for any unauthorised transactions on your card before you report it as lost or stolen.
You can reload additional funds onto a multi-currency prepaid Forex card while travelling. There are a few different ways to do this:
- Online: Most forex card issuers allow you to reload your card online using a credit or debit card or bank transfer.
- Mobile app: Many forex card issuers also have mobile apps that allow you to reload your card on the go.
- Over the phone: You can also call your Forex card issuer to reload your card over the phone.
- In-person: If you are travelling to a country where your forex card issuer has a branch, you can reload your card in person at the branch.
There may be a fee for reloading your Forex card, so check with your issuer beforehand.
If you exhaust the funds on your multi-currency prepaid Forex card, you can no longer use it to make payments or withdraw cash. However, there are a few things you can do:
- Reload your card: Reload your card online, via mobile app, over the phone, or in person at a branch of your Forex card issuer.
- Use a different payment method: You can use a credit or debit card, traveler's checks, or cash to make payments.
- Contact your forex card issuer: Your forex card issuer may be able to help you if you are in a bind. For example, they can issue you a temporary PIN so that you can withdraw cash from an ATM.
It is important to note that you may be liable for overdraft fees if you try to use your Forex card after you have exhausted the funds.
Here are some tips to avoid exhausting the funds on your multi-currency prepaid Forex card:
- Budget carefully: Before travelling, create a budget to estimate your expenses.
- Track your spending: Keep a record of your expenses to track your remaining funds while travelling.
- Reload your card regularly: Reload your card regularly so you do not run out of money.
- Have a backup plan: If you exhaust the funds on your card, have a backup plan, such as a credit or debit card or traveller's checks.
Following these tips ensures you have enough money to cover your expenses while travelling abroad.
Yes, most multi-currency prepaid Forex cards have a daily spending limit. The card issuer typically sets this limit, which may vary depending on the card type and the country where it is issued. For example, a Forex card issued in India may have a daily spending limit of USD 10,000, while a Forex card issued in the United States may have a daily spending limit of USD 25,000.
It is important to note that your daily spending limit may be different for ATM withdrawals and point-of-sale (POS) transactions. For example, your daily ATM withdrawal limit may be USD 2,000, while your daily POS transaction limit may be USD 10,000.
You can usually find your daily spending limit in the terms and conditions of your Forex card or by contacting your card issuer. You must know your daily spending limit to avoid overspending and incur overdraft fees.
You can use a multi-currency prepaid Forex card for hotel reservations or car rentals. Most hotels and car rental companies accept Visa and Mastercard, the two most popular networks for Forex cards.
However, it is essential to note that some hotels and car rental companies may require you to place a deposit when you make a reservation. This deposit is typically held on your card until you check out or return the car. Your reservation may be cancelled if you do not have enough funds on your Forex card to cover the deposit.
You can use a multi-currency prepaid Forex card for contactless payments. Many multi-currency prepaid Forex cards come with contactless payment technology. It allows you to pay for goods and services by tapping your card on a compatible terminal. This payment type is becoming increasingly popular worldwide, and it is a secure and convenient way to make transactions. If you are travelling abroad, using a multi-currency prepaid Forex card for contactless payments can be a great way to save time and hassle.