If you want to pursue your goals of receiving a worldwide education, the first significant obstacle you'll need to overcome is to be admitted to study at an overseas institution. You've already achieved a significant milestone in becoming a global citizen.
Which significant choice do you have to make immediately after this one? Managing your cash while you're away is a must! Spending in a foreign currency with a global card, while your funds are in Indian Rupees (INR), comes with its own challenges, including currency conversions.
Which currency to carry and how–cash or a student forex card, how much to carry? How much effort and cost it takes to transfer money to your account, whether or not your bank account will work abroad, what will be the convenience charges, and so on? Before making their study abroad plans, foreign students must be aware of the information presented here.
1. Supports numerous currencies
The worldwide card supports several currencies, including the Euro, US Dollars, Canadian Dollars, and a few more. Students from other countries who study abroad also need to remember that these cards may be loaded with a single or multiple currencies.
You may want to consider getting a card that only works with the currency of the nation where you want to pursue higher education. Students participating in exchange programs or who are needed to travel between various countries may choose to use a card compatible with more than one currency.
2. Comprehensive protection
Students from other countries must emphasize their academics; thus, the last thing they want to deal with is a safety concern. Most worldwide cards are equipped with a multi-layer security feature that guarantees a smooth and trouble-free experience for the user.
3. A global card and account app
The Global app is connected to your international debit card and savings account, allowing you to manage both of them in an easy and streamlined manner. The app's Lock/Unlock/Block Card functions provide additional protection against unauthorized use.
The software gives you the ability to temporarily freeze either all of the channels on your chip and PIN card or just part of them, giving you more control over your financial activities and enhancing the safety and security of your card. If your card is lost, stolen, or used without your permission, you can block it permanently.
4. 5% Annual Savings Account Interest, Paid Monthly
For study abroad students, The Global savings account provides its customers with a competitive interest rate that may reach up to 5% per year. Therefore, although you put a lot of effort into completing your projects and doing well on your examinations, the interest in your money will continue accumulating. To add insult to injury, you do not need to wait until the end of the quarter to take advantage of these benefits. Your account will be credited with the interest amount every month.
It is possible for students studying abroad to save money on foreign exchange by opening a bank account in their host country. Make sure you have all the necessary paperwork, such as a passport, visa, proof of residency, a letter of confirmation from your university, and other pertinent documents, before applying for a bank account.