The takeaway: travel money cards have more fees in most cases, but credit and debit cards (mainly credit) can have more expensive fees.
These fees are often avoidable with the right card – there are plenty of debit cards available now that charge nothing for ATM withdrawals or overseas purchases.
Which is better travel card or credit card?
—Usually available at better rates than currency notes (cash) and traveler’s cheques. —Better than credit/ debit cards – With Prepaid Travel cards you avoid paying the 2% to 5% transaction fee (Visa/ MasterCard, Issuing bank fees) that is charged when you use your international debit/ credit card.
Is a travel money card a credit card?
A Travel Money Card is a card that you load foreign currency onto so it can be used overseas to withdraw cash at an ATM, in store, online or over the phone. You can use it in more than 36 million locations worldwide – choose the ‘credit’ option.
Is it worth getting a travel credit card?
Travel Rewards and the Monthly Balance
The more money you charge on a travel rewards card, the more points or miles you get. If you are able to pay off your credit card balance monthly, the travel rewards you get might be worth it.
What are the benefits of travel card?
5 benefits of a travel money card
- Ability to lock in your exchange rate before travelling.
- Ability to load multiple foreign currencies on one card.
- Ability to reload card via your smartphone.
- Debit card functionality without linking to your bank account.
- Allows you to carry a minimal amount of cash.
Which Bank Travel Card is best?
Here are the top 5 banks which offer a range of prepaid cards to make your international travel easier.
- ICICI Bank.
- HDFC Bank.
- Axis Bank.
- SBI Bank.
- IndusInd BankFor a stress free journey overseas, IndusInd presents the Indus Forex Card and the Indus Multi Currency Card.