Travelling abroad is always exciting, with new cultures, new cuisines, and unforgettable experiences. But amidst the thrill, there’s one thing that often causes unnecessary stress for travellers: managing money safely and efficiently while overseas.
Traditionally, many people have relied on carrying cash when travelling abroad, believing it to be convenient. However, with rising concerns over theft, fluctuating exchange rates, and hidden bank fees, that approach is quickly becoming outdated. The modern alternative? The zero forex markup card, a smarter, safer, and more cost-effective way to handle your expenses abroad.
In this guide, we’ll explore what is a forex card, how zero forex markup cards work, and why they’re a far better choice than carrying bundles of foreign currency.
Understanding what is a forex card?
Before diving into the benefits of zero forex markup cards, it’s important to understand the basics, what is a forex card?
A forex card, short for foreign exchange card, is a prepaid travel card that you can load with one or more foreign currencies before your trip. It allows you to pay for purchases, withdraw cash from ATMs, and even check balances, just like you would with a debit or credit card, but in the currency of the country you’re visiting.
Forex cards are offered by banks and fintech companies and come in various types, such as:
- Single-currency forex cards: Loaded with one specific currency, e.g., euros or dollars.
- Multi-currency forex cards: Allow you to hold and use multiple currencies on the same card, ideal for multi-country trips like those across Europe.
- Zero forex markup cards: The premium option, where you pay exactly the live exchange rate without any additional foreign exchange markup, typically 3–5% on regular cards.
Now that we know what is a forex card, let’s look at why the zero forex markup version has become the preferred travel companion for smart, safety-conscious travellers.
The problem with carrying cash abroad
For years, travellers have relied on cash, believing it to be the most straightforward way to spend abroad. But in reality, carrying large sums of cash overseas comes with multiple risks and inconveniences.
1. Safety and theft concerns
Cash is vulnerable. If your wallet or bag is lost or stolen, your money is gone for good. There’s no way to trace or recover it. In crowded tourist destinations or airports, pickpocketing is an unfortunate reality, and carrying large amounts of cash only increases your risk.
2. Inconvenience and limited usage
Carrying different denominations, counting change, and worrying about leftover currency can be cumbersome. Many European countries, especially in Scandinavia, are becoming increasingly cashless, meaning some cafés, museums, or transport services might not even accept physical money.
3. Difficulty in managing budgets
When you spend cash, it’s easy to lose track of your spending. Without digital records, travellers often overspend or run out of funds faster than expected.
So, if cash comes with this many challenges, what’s the smarter alternative?
Why zero forex markup cards are safer and smarter
A zero forex markup card solves nearly all the problems that cash and even traditional debit or credit cards present. Here’s why it’s the best option for international travellers:
1. Zero risk of theft or loss
Unlike cash, if you misplace your card or it gets stolen, you can instantly block or freeze it using a mobile app. Most zero forex markup cards come with in-app controls that let you disable international transactions or ATM access in seconds. You can even request a replacement card easily.
2. No forex markup fees
Most bank cards charge a foreign transaction fee of 3-5% on every international payment. That means if you spend £1,000 on your holiday, you could lose £30-£50 just in markup charges. With a zero forex markup card, you pay exactly what you spend, at the real-time exchange rate, without extra costs.
3. Safer than carrying physical cash
Your funds are stored digitally, making it much safer than walking around with wads of foreign currency. Even if your card details are compromised, most cards have real-time alerts and fraud protection to ensure your money is secure.
4. Real-time tracking and spending control
Most zero forex markup cards are linked to an intuitive mobile app, allowing you to track transactions instantly, set spending limits, and monitor balances across currencies. This helps you stay within budget and maintain complete control of your finances throughout your trip.
5. Convenient in both cash and card-friendly destinations
While Europe is largely card-friendly, some situations, such as taxis, street markets, or small cafés, still prefer cash. Zero forex markup cards allow you to withdraw local currency from ATMs at minimal or no extra cost, making them versatile for any travel scenario.
How to get and use a zero forex markup card
Getting started is simple. Most major banks and fintech platforms in the UK and India offer zero forex markup cards or travel cards that can be ordered online. Here’s how they work:
- Apply and verify: Order the card through the provider’s website or app. Complete basic KYC or ID verification.
- Load funds: Add money in your home currency (INR). The funds are automatically converted to the required foreign currency.
- Spend abroad: Use it just like a debit or credit card, for payments, bookings, or ATM withdrawals.
- Manage through the app: Track expenses, reload funds, or freeze/unfreeze the card anytime.
The entire process is digital, simple, and secure, making it ideal for modern travellers who value convenience and peace of mind.
Wrapping up
We all know that travelling smart is just as important as travelling light. While carrying some cash for emergencies is still sensible, relying entirely on cash abroad is risky and outdated.
Niyo’s zero forex markup card combines the best of both worlds: the security of digital payments and the freedom to spend like a local, without worrying about hidden fees or poor exchange rates. So, when debating a forex card or cash, which is better, the answer is clear: choose a zero forex markup card, it’s safer, smarter, and built for the modern traveller.
Apply for your Niyo zero forex markup card today!
