Planning Your International Travel Money

Planning that long-awaited international getaway? While you’re busy mapping itineraries and picking outfits, there’s one detail that deserves equal attention: how you’ll manage your money abroad. Carrying cash feels risky, and swiping your card invites extra fees and blows up your budget. Among the many options, forex cards have become a traveller’s best friend; they’re safe, convenient, and help you sidestep those hefty international transaction fees.

But here comes the tricky part: should you choose a single-currency forex card or a multi-currency one? Both sound great, but each serves a different purpose. Let’s break down the differences between the two.

What is a single-currency forex card?

A single-currency forex card is loaded with a specific foreign currency, such as USD or AED, and is ideal for travellers visiting a single country for their trip. You can use a single-currency forex card for shopping, dining, booking hotels, or withdrawing cash at ATMs in your destination country.

Pros of Single-Currency Forex Cards

• Simple and straightforward: Single-currency forex cards are easy to understand and use. You just load the currency of the country you’re visiting, and you’re ready to go.
• Locked exchange rate: Lock in the exchange rate at the time of loading, protecting you from currency fluctuations.

Cost-effective for single-country travel: Lower issuance and reload fees than multi-currency cards.
Safe and secure: If lost or stolen, the card can be immediately blocked.

Cons of Single-Currency Forex Cards

• Limited flexibility: You’ll need separate cards for each country if travelling multiple destinations.
• Cross-currency charges: Using the card outside the loaded currency incurs fees.
• Not suitable for multi-country travel: Managing multiple cards can be cumbersome.

What is a multi-currency forex card?

A multi-currency forex card lets you load multiple currencies like USD, EUR, GBP, AUD, etc., in a single card. It is perfect for globe-trotters, business travellers, or students studying in multiple countries. You can make payments abroad without worrying about exchanging currency at every stop.

Pros of Multi-Currency Forex Cards

• Versatility for global travel: Load several currencies on one card.
• Automatic currency detection: Deducts from the corresponding wallet automatically.
• Hedge against currency fluctuations: Lock in exchange rates for each currency.
• Minimal conversion fees: Avoid cross-currency markups.

Cons of Multi-Currency Forex Cards

• Slightly higher issuance costs: May include annual maintenance charges.
• Inactive currency balances: Unused currency may require conversion later.
• Complex reloading for new users: Managing multiple wallets can be confusing at first.

Make the Smarter Choice!

• Single-currency card: Best for one-country trips, simple management, and cost-effectiveness.
• Multi-currency card: Ideal for multi-country trips, flexibility, and centralized currency tracking.

While both types have their place, the Niyo international debit and credit card is a game-changer. It allows you to spend freely in 180+ countries at zero forex markup, supports 130+ currencies, lets you reload funds instantly, track spending, and manage your card securely.

Get Niyo Zero Forex Markup Card