What am I?
I am like a prepaid card in which you can put some money and can use it whenever you need it. I can be used for cash withdrawal in the local currency at any Visa ATM across the world. I can also be used as a debit card for shopping.
How do you get me?
You will find me available with large foreign, private and public sector banks in India. I am available in seven currencies (US dollar, Australian dollar, Canadian dollar, Swiss franc, euro and pound) and across five continents. The minimum you need to feed me is 200 units of any currency.
I also offer insurance benefits, such as covers for hijacking, delay in flights or even personal accident. The claim is valid provided I am active in your hands and am left with some amount as balance on the day of accident. However, before getting allured by this benefit, do look at the fine print.
Limit on taking money abroad
You cannot put unlimited amount in me while travelling abroad. According to the Reserve Bank of India, if you are travelling abroad for leisure or tourism, you can carry a maximum of $10,000, or its equivalent amount, as foreign exchange. Even if you make multiple trips in a year, your limit remains the same.