HDFC Forex Cards

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There are three ways to spend money when travelling abroad — cash, credit card and forex card. Because, some cards charge you a fixed amount of Rs for issuing the card while others offer it to you for a higher fee of Rs Some cards are single currency while others are multi currency ones.

Some are designed for frequent travelers while others are best for students. Read my experience of currency conversion when I travelled Thailand. Forex card is one of these mainstream services offered by Thomas Cook. The Borderless Prepaid Card is a multiple currency card designed for customers who travel extensively across the globe. Borderless prepaid card enables you to load eight currencies onto a single card which provides convenience while travelling to different countries.

The currency conversion fee with Borderless prepaid card is 4. You can load eight currencies onto your Borderless card. One currency card is second variant of Thomas cook forex card which is a single currency card.

The single currency you can load is the USD. This can be avoided by use of One Currency Card. This card is valid upto 5 years. IndusInd Bank Multi Currency Forex card is specially designed for the frequent international travellers who travel across different countries. You can load 8 of the widely used currencies to your card to spend in different countries.

This makes managing multiple currencies on trips abroad relatively simple. Besides, you can use this card at over 1. In addition, this card offers dining privileges and secure transactions. While travelling abroad, you would need a backup card in case your primary forex card gets lost. Indusind bank multi-currency forex card comes with a paired card kit option. You can load up to 8 currencies on this card and travel globally without any hassle. The best part is that with just one ATM pin you can access your account online or withdraw funds from multiple currencies.

ICICI single currency forex card is a good choice if you are planning your visit to a single location. This card comes with an issuance fee of Rs which is a little higher than other forex cards but is worth paying for given the benefits it offers. The benefits include insurance cover, least cross currency fee, global assistance, special offers, and much more. You can load up to 23 currencies on this card and travel globally without any hassle. This forex card charges Rs.

Even with the lower joining fees, this card offers you 10 currency wallets and lower cross-currency charges of 2. Cross currency charges are second lowest after HDFC forex card. This card can be used as a single card for 10 different currencies but the default currency on this card is United States Dollar. You can load these currencies at any of the Yes Bank Branches. So, from a forex services point of view, Axis bank multi currency forex card is the best option for students.

With this card, you can pay by simply waving your card at a secured card reader. The Axis Bank Multi-Currency Forex card can be personalised by adding an image of your choice to the card.

You can add your own image or you can choose from the designs available in axis bank image gallery. Lastly, the forex card comes with a validity of 5 years and can be purchased without the need of an account with Axis Bank.

You can simply walk into any Axis Bank branch and sign up for the card. If you compare forex card with an international debit or credit card, forex card is much better option than the other two for the following reasons. You might have made your decision of which forex card is best for you depending upon your requirements.

Incase, you are still confused after reading all the information, you can go through my below recommendations and chose what is right for you. Your email address will not be published. Notify me of followup comments via e-mail.

You can also subscribe without commenting. I started CashOverflow in and it has changed my life beyond my expectations. Start Your Online Business. Additional menu Last Updated: Borderless Prepaid Card The Borderless Prepaid Card is a multiple currency card designed for customers who travel extensively across the globe. Free replacement of lost or stolen card. The card is chip and PIN enabled that comes with fraud protection.

Hassle free refund process. Get instant alerts for all the transaction made through your Forex card to avoid fraud. Paired card kit equips you with an extra back-up card, in case your primary card is lost. Personal air accident cover only death upto Rs 10 lakhs. Lost card Liability insurance cover upto Rs 2 lakh. Least cross currency fee. You can add money to your forex card easily through net banking.

The card is valid for 5 years during which you can reload it and use it for multiple trips Get card lost insurance coverage upto 3 lakh. You can make payment on all international online merchant websites. The card automatically chooses the currency wallet as per the local currency of transaction from the multiple available wallets on the card. In addition, this forex card is of two types 1.

Air travel insurance upto Rs 3 lakh. Zero card lost liability. Currency conversion fees is included in the price. You will not be charged any additional fees for purchases in shops and stores. You can withdraw money from any ATM across the globe but will have to pay charges for cash withdrawal from an international ATM. You cannot top-up the forex card abroad even if your bank has a branch there. You will have to contact the centre that has issued the card.

A few banks provide option to reload your wallet through net banking. No currency conversion charges for shopping abroad by swiping forex cards. Can get a replacement card without affecting your funds in case of loss or theft. Lesser currency conversion fee charged. Fixed exchange rate even in case of currency fluctuations in the forex market. Conclusion Which Forex Card is best for you You might have made your decision of which forex card is best for you depending upon your requirements.

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These are accepted all over the world. All you need is a Passport, Visa or ticket. Once activated, the card can be used at any international location for making payments at POS terminals or to withdraw cash at ATMs. Usage of the card is not allowed in India, Nepal and Bhutan.

The transaction amount is deducted from the available balance on the ForexPlus card. Irrespective of the currency loaded on the card, the cash will be dispensed based on the currencies supported at the ATMs. The ForexPlus card is available in 10 currencies. This means that you can load the card with any of these 10 currencies mentioned below. When you sign up for the card, you load the card with the currency of your choice.

You can load the card with any of the 10 currencies. This means that you the exchange rates are already locked in and in the future when you use the currencies, you are not subject to foreign exchange fluctuations as the rates for your currencies are pre-locked.

However, if you use a different currency than these three then you are subject to foreign exchange rates. The insurance coverage offered with the card is as follows:. You can easily add currency to your wallet, or transfer the balance from one currency wallet to another using prepaid net banking facility.

You can authorize someone in your family to reload your card. All they have to do is go to the bank and get your card reloaded. The bank sends SMS alerts to your domestic as well as international registered numbers along with email alerts for every activity purchase, withdrawal, fund transfer, hotlisting, etc. Thus, it is easy to keep track of your expenses and account balance. This will help you plan your holiday better and prevent you from over-spending. Prepaid Forex cards are a great way to carry money in multiple currencies when you go abroad for a holiday.

In this day and age, cards have become commonplace and are used for shopping, at restaurants, and for almost all types of purchases. However, you should not rely on cards totally. It is advisable to carry some amount of cash with you whenever you go abroad for a holiday. You never know when the cash may come in handy. Your card is secured by a PIN which means that no one else can use your card. Only after you enter the PIN will you be able to withdraw cash.

The exchange rates are fixed at the time of loading the card with the currency. Thus, in the future when you use the card, you are not affected by exchange rate fluctuations. However, if you had cash with you and wanted to exchange it, the exchange rate would have been much higher. HDFC Bank does not impose any usage limit on the card. In such a case, you can try doing multiple transactions if you want to withdraw a higher amount.

Just make sure that you are using the card for currencies that are already loaded on your card. If you use it for other currencies then certain charges may be applicable. Cross-currency transaction done through Dynamic Currency Conversion attracts currency charges at applicable rates. Another problem with such as transaction is that you will be affected by fluctuations in currency exchange rates.

The best part is that your card is pre-approved for e-commerce transactions. After authorization of your card, you will be able to make the payment. The ForexPlus Chip card should not be used towards temporary charge blocks — e. Whenever you reload the card with currency after your initial load you will be charged Rs. If you have to reissue the card due to some reason you will be charged Rs.

The ATM cash withdrawal fee, balance enquiry fee, and charge slip retrieval fee is different for every currency. All the three fees are described in the table below. Please note that it is better to avoid using the card for any currency that is not loaded on the card. This is because if you use the card for a different currency then cross-currency charges will apply and you will also become prone to currency exchange rate fluctuations.

There are no special offers on the ForexPlus card. Standard Chartered Bank Multicurrency Forex Card is a great forex card which can make your travel hassle-free.

With the Standard Chartered Multicurrency Forex card, you can load up to 20 currencies in one card and travel hassle free across the globe. The issuance of the Standard Chartered Multicurrency card is Rs. With the Standard Chartered Forex card, you get personal accident insurance cover death cover only up to Rs. The card also offers a lot of other benefits and features which make it a good forex card.

All the major currencies of the world are available on the card which means that you can travel anywhere on the globe hassle-free with this card. Himank is a highly motivated and dedicated person. Himank has a passion for Financial Markets.

He wants to help everyone achieve Financial Freedom! View all posts by Himank Mishra. Himank Mishra Himank is a highly motivated and dedicated person.