Best Forex Cards For The USA
The best Forex cards for the USA are:
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Wise Travel Card – Best for global currency exchange and online purchases
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Bank of America® Travel Rewards for Students – Ideal for student budgets and travel
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HSBC Everyday Global Travel Card – Versatile currency support and competitive rates
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Revolut Travel Card – Convenient, flexible, and wide currency options
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Travelex Money Card – Comprehensive solution for international travel
Forex cards offer a convenient and potentially cost-effective way to manage your finances abroad. But with a multitude of options available, finding the "best" card depends heavily on your spending habits, desired features, and the level of foreign currency markup fees you're willing to pay. This guide will help you find the top contenders for the best Forex cards in the US, comparing their strengths, weaknesses, and suitability for different types of travelers.
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Can you put US dollars on a Forex card?
Yes, many Forex cards support loading US dollars onto the card.
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Can a foreigner get a Forex card in the USA?
Yes, foreigners can typically obtain a Forex card in the USA by meeting the issuer's requirements.
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Will Forex cards work in the USA?
Yes, most Forex cards are designed to work seamlessly in the USA, where Visa or Mastercard is accepted.
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Can we withdraw cash from a Forex card in the USA?
Yes, Forex cards usually allow cash withdrawals from ATMs in the USA, subject to the card's terms and conditions.
What are the best Forex cards for the USA?
Wise travel card
The Wise Travel Card is designed for frequent US travelers, offering utility-oriented features. With cross currency conversion fees ranging from 0.24% to 3.69%, it ensures cost-effective transactions, including a low fee of 0.42% for conversions from AUD to USD, EUR, or GBP.
Users can withdraw cash for free up to $350 every 30 days. Beyond this limit, Wise charges a fixed fee of $1.50 per transaction along with a 1.75% charge. The daily ATM withdrawal limit is $2,700. The card issuance process takes between 7 to 14 business days, and users can also request up to three virtual cards for temporary usage.
Accepted wherever MasterCard is welcomed, the Wise Travel Card offers over 40 currencies at inter-market exchange rates, making it globally competitive. It allows online purchases from overseas without transaction fees and provides competitive exchange rates.
For those frequently using ATMs, it's important to note the associated fees. Despite this, the Wise Travel Card enables money transfers to overseas bank accounts with minimal fees and competitive exchange rates.
Wise offers a no-fee account opening, no minimum balance requirements, and no monthly charges. Users benefit from low conversion fees starting from 0.43% and transparent ATM charges once the monthly free transaction limit is exceeded.
Ordering a Wise card
Bank of America® travel rewards for students
The Bank of America® Travel Rewards credit card for Students caters to students who like to travel. It offers no annual fee, no foreign transaction fees, and earns 1.5 points for every dollar spent on purchases.
Cardholders can earn unlimited 1.5 points per $1 spent on all purchases, and these points do not expire as long as the account remains open. Additionally, new cardholders can receive 25,000 online bonus points after making at least $1,000 in purchases within the first 90 days of account opening, which equates to a $250 statement credit toward travel purchases.
The card allows flexibility in booking trips, as there are no restrictions on how or where to book, with no blackout dates. Points can be redeemed for statement credits to cover travel or dining expenses, including flights, hotel stays, car rentals, and restaurant purchases, including takeout.
Furthermore, the card offers a 0% introductory APR for the first 15 billing cycles on purchases and balance transfers made within the first 60 days, with a variable APR ranging from 18.24% to 28.24% thereafter. There is a 3% introductory balance transfer fee for the first 60 days, increasing to 4% for future balance transfers.
BOA dashboard
HSBC Everyday Global travel card
The HSBC Everyday Global Travel Card offers a range of features suitable for travelers. It supports loading of 10 currencies, including USD, AUD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, and CNY (with currency restrictions on CNY).
There's no maximum balance limit for any currency, providing flexibility for users. The card offers competitive exchange rates for all currencies when funds are pre-loaded. For cash withdrawals, HSBC-owned ATMs within the United States allow for fee-free transactions, while overseas ATMs displaying a Visa or Visa Plus logo are eligible.
Users can earn 2% cash back when tapping and paying with payWave, Apple Pay, or Google Pay for purchases under $100. The daily maximum ATM withdrawal limit is set at $2,000, and the card offers Visa Zero Liability fraud protection.
Accepted wherever Visa is welcomed, the HSBC Everyday Global Travel Card provides convenience and security for users. Additionally, it does not charge an international transaction fee, allowing spending in the United States and online in Australia without incurring an additional 3% fee.
HSBC dashboard
Revolut travel card
The Revolut Travel Card provides various features suitable for frequent travelers. It offers no-fee ATM withdrawals up to $350 or 5 ATM withdrawals within a rolling 30-day period, with a 2% charge (minimum $1.50) thereafter. Users should be aware that exchanging currency on weekends may incur a one-percent mark-up fee. Additionally, fees were introduced for international money transfers in April 2021.
Accepted wherever Visa is welcomed, the Revolut Travel Card offers over 30 currencies at competitive exchange rates, which are among the cheapest globally. However, frequent ATM usage may result in additional fees.
Revolut offers different account tiers, ranging from Standard plans with no monthly fees to the 16.99 USD/month Metal plan. Each account tier comes with linked cards, with the type of card depending on the account tier. Users can hold approximately 25 currencies and convert currencies at the mid-market rate up to their plan’s allowance. Additionally, all accounts offer some fee-free weekday currency conversions, with 0.5% usage fees applied thereafter. Out-of-hours and exotic currency fees may apply in certain cases.
Revolut plans
Travelex Money card
The Travelex Money Card requires a minimum load of $100 and allows a maximum load of $100,000. Accepted wherever Mastercard is welcomed, it provides convenience for users.
Fees associated with the card include a $10 closure fee, $5 for an additional card, and a $4 monthly inactivity fee. While Travelex itself does not charge ATM fees, users should be aware that some ATM operators may impose their own charges.
Users can load currencies such as AU$, US$, EU€, GB£, NZ$, TH฿, CA$, HK$, JP¥, and SG$. In case of loss or theft, access to cash in the account is available through Moneygram or Western Union agents at no charge.
Additionally, users can benefit from free Wi-Fi access at Boingo hotspots, with the number of free hotspots per country available on a provided map.
Travelex Money card features
Comparison of the basic parameters of the best Forex cards USA in 2024
| Name | Card Issuance Ease | Fees and Charges | Withdrawal Limit | Welcome benefits | Best for |
|---|---|---|---|---|---|
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Easy |
0.24% to 3.69% |
$2,700 |
Store and spend money in different currencies with no fees for international transactions, and enjoy two free cash withdrawals per month |
Best for those travelers who want good exchange rates for easy FX conversion |
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Bank of America® Travel Rewards for Students |
Medium |
No annual fee |
Not specified |
Earn unlimited 1.5 points per dollar on all purchases |
Best for students who travel, earn points and can redeem them |
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HSBC Everyday Global Travel Card |
Easy |
No ATM fees at HSBC tellers, No international transaction fees |
$2,000 |
Earn one percent cashback on debit card transactions, with zero foreign currency transaction fees |
Best for those travelers who move regularly |
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Easy |
0.5% |
Not specified |
Load money in different currencies, enjoy perfect inter-bank rates, and have no spending/transaction fees or ATM fees on withdrawals up to £200 per calendar month |
Best for those travelers who prefer low fees |
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Travelex Money Card |
Easy |
5.75% exchange rate applied |
£500 in 24 hours |
Free cash access and no overseas ATM charges |
Best for those travelers who want an all-rounded experience |
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How to choose a Forex Card for the USA?
To select the right Forex Card for your needs in the USA, follow these simple tips:
Understand your travel pattern
Analyze your travel plans, especially if you're visiting multiple states or cities. Opt for a multi-currency Forex card to avoid currency conversion fees.
Research exchange rates
Compare exchange rates from different Forex card providers. Choose a card with competitive rates and favorable terms for USD transactions.
Check for hidden charges
TU expert Rinat Gismatullin recommends understanding the fee structure of each Forex card. Look out for hidden charges like inactivity fees, ATM withdrawal fees, and cross-currency markup charges. Opt for a card with transparent fee policies.
Security features
Prioritize security features such as chip and PIN protection, insurance coverage against misuse or loss, and the ability to remotely lock the card in case of theft. Ensure the card offers great security measures for peace of mind.
Destination-specific support
Confirm that the Forex card seamlessly supports USD transactions in the USA. Check for any restrictions or additional charges for using the card in the USA to avoid surprises.
Customer service
Evaluate the customer service provided by the Forex card issuer. Choose a provider with responsive customer support that can assist you promptly in case of any issues or emergencies during your stay in the USA.
Expert Opinion
When selecting a Forex card for your travels, prioritize cards that offer real-time transaction notifications. This feature allows you to stay updated on your spending and detect any unauthorized transactions promptly, enhancing the security of your funds. Additionally, consider cards that offer budgeting tools or spending analysis features, which can help you manage your expenses more effectively during your trip. By using these advanced functionalities, you can not only choose a card with competitive rates and low fees but also ensure greater control and security over your finances while traveling.
Summary
In summary, when considering the best Forex cards for the USA in 2024, several options stand out for their unique features and benefits. The Wise Travel Card offers competitive exchange rates and over 40 currencies at inter-market rates, making it ideal for frequent travelers. The Bank of America® Travel Rewards for Students provides flexibility with no annual fees, no foreign transaction fees, and unlimited 1.5 points per dollar spent on purchases, catering specifically to students. The HSBC Everyday Global Travel Card offers versatility with support for 10 currencies and no maximum balance limit, while the Revolut Travel Card presents convenience with features like fee-free ATM withdrawals up to a certain limit and multiple account tiers. Finally, the Travelex Money Card provides travelers with options such as free Wi-Fi access and a variety of supported currencies, ensuring a comprehensive solution for international travel needs in the USA.
Team that worked on the article
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).