Which Are The Best Forex Cards in India

Forex Card is your best friend on your foreign trips. It is a convenient way to carry foreign currency and pay for expenses on your overseas trips. Many banks or NBFC issues a wide range of Forex Cards that cater to different needs. You can easily pay with a swipe or a wave of your Forex Card for entry tickets, rail and bus passes, taxis, restaurant bills, shopping etc. There is a lot more a forex card can do find out in the given article.

Some Top-performing Forex cards in India Let's take a look at some of the best forex cards in India which are as follows: IndusInd Bank Multi-currency Forex card: For a frequent traveler IndusInd Bank Multi-currency Forex card is suitable, as you don’t need to carry foreign currency on your travels when you have this forex card. It can provide you the 14  most widely used currencies in the world such as US Dollar, Euro, Australian Dollar, Pound, Singapore Dollar, Saudi Riyal, Canadian Dollar, etc. You can reload the card up to 8 foreign currency, with zero ATM withdrawal charges on first 2 transactions per currency per month.

ICICI Bank Single Currency Forex card: ICICI Bank Single Currency Card is a prepaid foreign currency card that makes your foreign trip hassle-free and convenient. You can load this card up to 9 foreign currency in India by paying in INR 100. These Cards are provided through ICICI Bank branches and selected money changers. Also provide you features including travel insurance and advanced account management features.

Axis Bank Multi-currency Forex card: It is the best forex cards in India for students who travel abroad for studies. As it can help in saving money on every transaction they make from airfares, travel insurance, university fees to cash withdrawal from local ATMs.You can also design the forex card by choosing your favorite travel destination image from the gallery. The validity of the axis bank forex card is mentioned on it, you can reload it and use it for multiple trips.

Yes Bank Multi-currency Travel Forex Card: In this card, you can load up to 15 currency in one single card. The Yes bank forex card is accepted at 31.4 million merchant outlets across the world. It comes with a longer validity of 2 years during which you can reload and use multiple times.

Benefits of Forex card:

You can use a Forex Card just like a Credit or Debit Card to pay for your expenses in a local foreign currency. With a Forex Card in your wallet, you do not need to carry a bunch of cash on your trips, you can also withdraw foreign currency from the ATM using Forex cards. They are considered one of the safest ways to carry money on your international vacations or business trips. With the contactless feature of the Forex card, you can easily pay at merchant terminals by just tapping it on the contactless POS.

Forex card fee and charges Like the other credit or debit cards, you need to pay some charges on the forex card as well. List of the charges for best forex cards in India is as follows:

• Issuance fee: for the card issuance you need to pay the amount to the respective bank or money changer in INR. This is a mandatory fee that the user has to submit. 
• Reload: You need to reload the card during the validity period for a hassle-free travel experience.
• Reissue: If the card is damaged or broken, then you need to reissue the card by paying the applicable fee. 
• Atm withdrawal: For every ATM withdrawal of forex card the user has to pay an additional interest.
• Balance inquiry: To check the balance of your forex card, at any foreign ATM you have to pay a balance inquiry fee starting from $ 0.50.
• Cross currency charge: For every foreign currency transaction you need to pay a cross-currency charge ranging from 3% to 3.5%.

How to get a forex card?

You can get a prepaid forex card from any bank or authorized money changers. You don't need to have an account relationship with the bank to purchase forex card. Just fill the application form with personal details, amount of foreign currency and documents such as passport, visa, etc.