PiperatGatesofDawn
TF Premier
So I'm trying to do the math here for my situation. I generally don't take a Forex card if I'm going to a "developed" nation. I do a one time DC withdrawal of maybe $100 or some equivalent and most of the time just swipe swipe swipe my CC.
Now I'm however traveling to is a less card more cash place. So I wanted to understand the math for taking cash + forex card with me.
Assuming I'm going to spend in a direct Forex card currency country. Let's say THB spending a total INR 1L. So there's no cross currency conversion on the Forex card.
Now the current Visa Exchange rate is: 1:2.419
At the worst possible DC change (4.2%) I will get: 1:2521
BookmyForex Card Rate: 1:2452
BookmyForex Cash Rate: 1:2522
So on spending 1L, the THB I will get:
At current Visa Exchange Rate: 41339.39644
DC @ 4.2%: 39666.79889
BMF Card: 40783.03426
BMF Cash: 39651.07058
Now obviously if I take a Forex card and keep most of the monies there, I will incur transaction charges on it.. so I would have to have a mix 40/60, 50/50 or 60/40 whatever with BMF cash. Then the advantage I was getting from BMF card becomes half. And ends up being around Rs. ~1200 or so.
Any foreign card ATM fees that the ATM charges will be the same for both DC and Card. Additionally unless something dramatic happens during the course of my trip the currency will have minor fluctuations over the days. I'm assuming that that has a minor impact.
There will be another fee to be paid for again exchanging the BMF Card and Cash remaining to INR...
So is my math correct? In which case is it worth the hassle of getting a Forex card?
Now I'm however traveling to is a less card more cash place. So I wanted to understand the math for taking cash + forex card with me.
Assuming I'm going to spend in a direct Forex card currency country. Let's say THB spending a total INR 1L. So there's no cross currency conversion on the Forex card.
Now the current Visa Exchange rate is: 1:2.419
At the worst possible DC change (4.2%) I will get: 1:2521
BookmyForex Card Rate: 1:2452
BookmyForex Cash Rate: 1:2522
So on spending 1L, the THB I will get:
At current Visa Exchange Rate: 41339.39644
DC @ 4.2%: 39666.79889
BMF Card: 40783.03426
BMF Cash: 39651.07058
Now obviously if I take a Forex card and keep most of the monies there, I will incur transaction charges on it.. so I would have to have a mix 40/60, 50/50 or 60/40 whatever with BMF cash. Then the advantage I was getting from BMF card becomes half. And ends up being around Rs. ~1200 or so.
Any foreign card ATM fees that the ATM charges will be the same for both DC and Card. Additionally unless something dramatic happens during the course of my trip the currency will have minor fluctuations over the days. I'm assuming that that has a minor impact.
There will be another fee to be paid for again exchanging the BMF Card and Cash remaining to INR...
So is my math correct? In which case is it worth the hassle of getting a Forex card?
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