Global student mobility is at an all-time high, as it touched the 5 million mark in December 2021. After a two-year-long slump in study-abroad VISA grants, more countries are embracing international students like never before. If you are among the lucky ones whose dreams of opting for higher education overseas have come true, then firstly, congratulations!
Secondly, it is time to start prepping your financial matters for a seamless transition into your study-abroad destination. One of the primary considerations of every international student should be to travel cashless. It is a phenomenon that offers security, peace of mind, and, surprisingly, bonuses and benefits, as well.
INTERNATIONAL DEBIT CARDS – THE BEST WAY TO TRAVEL CASHLESS AS AN INTERNATIONAL STUDENT
As the name suggests, an international Debit card is akin to your quintessential Debit or Credit card, but there are pertinent differences, mainly pertaining to transnational foreign transactions. For example, when you use your domestic Credit card abroad as an international student to travel cashless, the currency is automatically converted from INR to that of the foreign destination. Thus, for the convenience provided, your Credit card company charges an issuing fee ranging from 3 percent to 5 percent of the total transaction.
However, an international Debit card has zero Forex markup charges, meaning you save a lot of money. The main reason why an International Debit card helps you to travel cashless is that it permits top-ups in 22 currencies, and the best cards are acceptable in 100+ countries of the world. Thus, whichever study-abroad destination you choose, you do not have to worry about currency conversion. In addition, the security aspects, such as block/unblock/lock card features coupled with pin-and-chip technology, mean that your money is saved.
HOW TO APPLY FOR AN INTERNATIONAL DEBIT CARD
As an international student, you should apply for an international Debit in a timely fashion. The onboarding processing, accounting approval, and the physical arrival of the card may take some time, and it is best to be as early as possible in the application process.
- Step 1 – You have to submit an application with the required documents for an International Debit card, either on the website of the concerned banking institution or visit their local branch.
- Step 2 – After submitting the form, you must pay an amount of INR as a submission or joining fee.
- Step 3 – You can load the International Debit card with INR and make online transactions after activation.
- Step 4 – Apply for the physical card, which may take seven to ten days to reach your doorstep.
Likewise, some of the documents required to apply for an International Debit card to travel cashless are –
- Passport (Self-attested copy)
- Visa
- University Acceptance Letter
- Airline Ticket (Self-attested copy)
- PAN Card
- Application Form
- Insurance (not mandatory)
WRAPPING IT UP
Your study-abroad journey requires you to have peace of mind and financial security, and the best way to do this is by choosing to travel cashless with a top-tier international Debit card. It is a worthwhile investment that will further enrich your higher learning experience overseas.
