When you think about travelling abroad, you think of exploring places, trying local cuisine, and buying local products - but what's the one thing that helps you do it all? Money! From traveling to buying to enjoying anything, now comes the question: how should you carry the money?

When traveling abroad, it's important to plan how you'll carry your money. But how should you carry it? Is it better to use a Forex Card, cash, a Credit Card, or a Debit Card? Let's figure out the best and cheapest way to pay.

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Cash - Cash is quick and easy to use, but it's not always safe or convenient when traveling. Also, there are some restrictions you need to know:

Many countries limit how much cash travelers can carry to stop illegal activities and protect their financial systems. European countries like Germany, Greece, France, and Italy limit cash brought in to under EUR 10,000; amounts over this must be declared to customs.

Whereas, the USA allows USD 3,000 for Indians per person per trip, Canada allows less than CAD 10,000. In the United Kingdom, both individual and group travelers have a cash limit of 10,000 pounds. Australia restricts amounts over AUD 10,000 to prevent money laundering.

In Mauritius, travelers can carry less than MUR 500,000. Singapore sets the limit at SGD 20,000 for both cash and alternative payments. Indian travelers to Nepal are limited to INR 25,000; notes of INR 100 are prohibited to deter counterfeit currency. Bhutan accepts Indian currency but bans notes of 500 post-demonetization to ensure smooth transactions.
Carrying different currencies can be a hassle, and there's a risk of loss or theft. It's wise to keep some cash for emergencies, but carrying all your money in cash isn't smart.


Now let's talk about credit cards. Credit cards serve as handy backups when you're short on cash or can't reload your forex card. They're accepted globally, making payments and withdrawals convenient. Remember to activate your cards before your travel while using them for payments and withdrawals. Non-activation will incur conversion charges. But even after taking precautions, using a domestic credit card overseas can be expensive.

And this is where it becomes easy to know about the Forex card.

Forex Card is a popular way for travelers to carry money. With a forex card, you can spend worldwide without paying extra charges, and you're protected from currency rate changes since rates are locked when you load the card.

A pre-loaded forex card provides protection from volatility in forex rates, minimal foreign currency mark-up fees, lower ATM withdrawal expenses, and no late payment charges. There are no forex conversion charges as well.

However, a forex card has limited usage as it is only for transactions abroad. It is available in only 15-20 foreign currencies and can be expensive if used in a currency not loaded on the card. Additionally, the card expires within 3 to 5 years, varying by issuer.

Therefore, it's advisable to unload the card once back in India if not planning to travel abroad before it expires. Prevailing exchange rates and a nominal unloading fee apply when unloading the forex card.

So, consider a Forex Card for safety and convenience, keep some cash for emergencies, and use Credit and Debit Cards as backups.

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