Over the last few years, the travel cards have gained lot of popularity as many private and public banks offers travel cards targeting students, tourists and business travelers. These cards can be used to make payment anywhere in abroad.

You can walk into a bank or a currency exchange firm to sign up or buy a travel card for just 110 to 150 and load it with the amount of your choice. The cash withdrawal and cross currency charges will be charged from you.

VN Kulkarni, Chief Credit Counselor with the Bank of India-backed Abhay Credit Counseling Centre said, "However, they score over debit and credit cards by eliminating currency fluctuations, as the exchange rate applicable on the day of transaction gets locked in the day you load the card," reports ET..

Since the two way authentication is not available in other countries as the secure transaction in India, you need to be cautious while transacting online with these cards and the card cannot be used to transect within India.

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