What Is a Multi-Currency Card and Why Should You Get One?

Do you travel frequently and love discovering new destinations? Having a multi-currency card while abroad is a real advantage, offering the flexibility you need for your day-to-day payments.

In this article, we explain how a multi-currency card works, as well as all the benefits it can provide.

Key takeaways

• A multi-currency card allows you to hold balances in several different currencies (EUR, GBP, USD, etc.) and pay directly in the local currency without automatic conversion being applied to every transaction.
• Its operation is straightforward: you top up your account in the currency or currencies of your choice, then either convert your funds manually or allow the conversion to happen automatically at the time of payment.
• It is particularly suited to frequent travellers, business professionals on the move, international online shoppers, and expatriates managing expenses in multiple currencies.
• It helps reduce exchange fees by offering rates that are generally closer to the interbank rate and by avoiding the additional commissions often charged by traditional banks.
• It also provides greater transparency on exchange rates and real-time expense tracking through a dedicated app, making it easier to manage your budget and control spending limits.

How does a multi-currency card work?

Unlike a traditional bank card, a multi-currency card allows you to hold balances simultaneously in EUR, GBP, USD, or any other supported currency, enabling you to make payments directly in the local currency without automatic conversion on every transaction.

In practice, the process is very simple:

1. You create your account with our virtual multi-currency card service
2. You add funds in the currency or currencies of your choice
3. You can then either convert your currencies manually from your account or allow the conversion to happen automatically when making a payment
4. When paying with your virtual card, the amount is deducted in the corresponding currency if available; otherwise, funds are automatically converted from your available balances

Who is a multi-currency card for?

Multi-currency cards are extremely useful in several situations:

• You regularly travel abroad for holidays
• You frequently go on business trips
• You often shop online from international retailers
• You are an expatriate managing expenses in several currencies

If any of these situations apply to you, having a multi-currency card can significantly simplify your daily life and even help you save money.

What are the benefits of a multi-currency card?

Whether you are an adventurous traveller, a professional frequently travelling for business, or someone who enjoys international online shopping, a multi-currency card offers many advantages.

Reduced exchange fees

Having a multi-currency card allows you to significantly reduce exchange fees while travelling.

You benefit from better exchange rates, usually much closer to the interbank rate used on the Forex market.

You also avoid additional fees often charged by banks on every transaction. Traditional banks generally add between 2% and 3% of the exchanged amount on top of their margin.

Better control over exchange rates

Going directly to a bureau de change or using a traditional bank is not always the best option when obtaining foreign currency. Exchange rates are not always clearly communicated, and it can be difficult to understand exactly how much the transaction is costing you.

By contrast, when using your multi-currency card, you know exactly which exchange rate is applied to your transactions, helping you avoid unpleasant surprises at the time of payment.

Good to know: whether you use our online currency exchange service or our multi-currency card, we always clearly communicate the exchange rate applied. This allows you to stay in control of your spending and know precisely how much you will receive after the transaction.

Real-time budget tracking

Thanks to our app, you can easily monitor your spending and stay in control of your travel budget.

Using our app, you can:

• Track your spending history across all your currencies
• Instantly block or unblock your virtual card with a single click
• Manage your spending limits with ease
• Receive instant notifications when your funds are running low

Conclusion

In summary, a multi-currency card is a flexible, cost-effective, and transparent solution for managing your international payments. Whether you travel frequently, work abroad, or make online purchases in different currencies, it helps you better control your fees, exchange rates, and budget. Choosing a multi-currency card means simplifying your transactions abroad while optimising your everyday spending.