Questions like how to carry the currency to manage your expenses far from your home in a totally strange country are pretty common. Also, there are various other questions like what amount should you carry, should you carry it in the form of cash or should you load money in your debit card? There are many other ways by which you can carry cash such as travelers’ cheque and prepaid travel cards. But there is one option which is the most dependable and efficient among all – Forex Card.
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With the help of a forex card, you can carry multiple forms of currency in one single card. This is the most secure and safest form of carrying money while traveling abroad. Various banks and financial institutions provide the facility of prepaid forex cards to their customers. Another thing that you can do with a forex card is to withdraw the cash in a hassle-free manner. If you’re packing your bags for your trip and looking for a forex card to choose from several options, look no further, as this article will help you in making an intelligent decision. Below are some of the best forex cards in India that you might want to have a look at.
YES Bank Multi-Currency Travel Card
This YES bank Multi-Currency travel card comes under the list of best forex cards in India because of its security and cost-effectiveness. You can manage this card from anywhere at any time with the help of a prepaid card customer care portal online. You can check your card summary, last 10 transactions and many more.
Number of Currencies: This card acts as a perfect partner during your travel to multiple foreign destinations as you can load up to 15 widely-used currencies in the world. The foreign exchange currency rate is locked-in at the time of issuance and will be the same during the validity of your card.
Card Validity: This forex card by YES Bank is valid for two years, during which you can reload it for as many times as you like and use it on your multiple trips.
Issues and Charges: The issuance fee for this card is fixed at a minimal INR 125 and you can reload this card with a nominal fee of INR 100.
Axis Bank Multi-Currency Forex Card
Forget about loading different currency into your card each time you travel to a new destination, as this card lets you enjoy a hassle-free travel experience. This card gives you protection against any currency fluctuations. This card also lets you encash the balance transfer on your card on returning from the trip. With the contactless technology, you can pay by just waving your card across the contactless reader.
Number of Currencies: This card lets you load upto 16 most famous currencies in the world.
Card Validity: The validity of your card is mentioned on the front of your card. During this period, you can reload it and use it in multiple locations.
Fees and Charges: You’ll have to pay INR 300 plus GST as the initial issuance fee. And by paying INR 100 as the reload fee, you can reload your card with the desired amount.
Tripmoney Global Cash Card
TripMoney Global Cash Card issued by SBM bank is one of MakemyTrip most recent products. It assists international travellers financially and saves money on currency conversions. The Tripmoney Global cash card is aimed at people who prefer to manage their cash and cards online. The card has been a boon to overseas travel enthusiasts because, unlike others, it does not require a credit history.
Currency Conversion: The Tripmoney Global Cash Card can be used internationally. Depending on your preference, you can spend in any currency across every POS and ATM. It gives you flexibility because you can easily load money in INR and use it in any foreign currency with no forex markup or currency conversion charges.
Card Validity: Tripmoney Global Cash Card is Lifetime Free. It provides a completely hassle-free experience.
Features: Tripmoney Global Cash Card has been a great success since it has been launched. It is loaded with a number of benefits such as:
- It’s a secured credit card card with a no forex markup rate.
- Pan India Delivery of the card within 5-7 days.
- Loan money in INR and spend in any currency.
- It is an entirely digital process.
- It includes card management via an app.
- No forex markup.
- Free validity for life.
- Keep track of your balance in Indian rupees.
- 100% Secure & confidential to load money into the app.
- Ease access anytime and anywhere.
Rewards: It is one of India’s most lucrative travel cards and it provides rewards such as:
- Free MakeMyTrip (MMT) Black membership.
- A discount code for up to INR 70,000 off at MakeMyTrip.
- With no forex mark up, customers save 2% to 4% on their spends. Save up to 10% when compared with forex rates at airport forex counters.
Fees and Charges: Tripmoney Global Cash Card is completely free of cost. It comprises of:
- It comes with no Annual Fee
- No Joining Fee.
- No Renewal Fee charges are applicable.
MakeMyTrip HDFC Bank ForexPlus Card
What makes this HDFC Bank travel card one of the best forex cards in India is features like chip & PIN enabled transactions, backup card availability, and the option of temporarily blocking the card, and many others.
Number of Currencies: You can load up to 22 currencies in one single card which lets you enjoy your travel without any worry. Also, you can get insurance upto ₹ 25 lakh just by having this card.
You can load up to 22 currencies in one single card which lets you enjoy your travel without any worry. Also, you can get insurance upto ₹ 25 lakh just by having this card.
Card Validity: Your HDFC Forex card is valid for a total of 5 years. You can also check the expiry date on the front of your card.
Fees and Charges: You will have to pay an issuance fee of INR 500 plus GST charges. You can reload the card by paying only INR 75 plus applicable GST as the reloading fee each time.
ICICI Bank Travel Card
Being one of the largest private sector banks of India, ICICI bank also offers forex card to customers. In case of any theft or misplacement, you can get a brand new replacement card which can be activated instantly. There are various travel cards by ICICI such as Goibibo, Coral, Sapphiro, Student, Multi-Currency travel card from which you can choose the best one for you. All these cards come under the list of best forex card in India.
Number of Currencies: With this card, you can save the cost of changing currencies in different countries and avoid the rate change by loading your card with 15 different currencies in one single card.
Card Validity: Your forex card will be valid for a period of 5 years from the date of issuance.
Fees and Charges: You will have to pay a joining fee INR 150 on this ICICI forex card. Also. each time you reload your card, a reloading fee of INR 100 will be charged to you.
HDFC Regalia ForexPlus Card
This card lets you enjoy a hassle-free travel experience without worrying about any cross-country charges. Although this card is solely made for the US dollar, it gives you a host of amazing features. Contactless payment, complimentary insurance coverage, emergency cash delivery, global acceptance, and airport lounge access at international airports in India are some of them. Also, via Net banking, you can block your card temporarily in case you’re not traveling.
Number of Currencies: You can load your forex card with the USD Dollars.
Card Validity: You can check the validity of your forex card mentioned on its front side.
Fees and Charges: This card can be issued with the issuance fee of INR 1000 per card. And to reload the card, you’ll have to pay INR &% at the time of each reload. You can reissue your card by paying the fee of INR 100 per card in the case of theft or lost card.
What are the few things that one should consider before taking a forex card?
There are a few things that you must check and keep in mind before zeroing on the right one. You might want to have a look at them.
- Check whether the daily limit of your card usage aligns with your requirements. As if it comes with a daily usage limit of a certain limit which is less than your spending, then this card is of no use to you.
- You should also enquire about the activation time of your card. And also, get yourself aware of the PIN generation method in case you forgot it.
- Note down the helpline number of your respective card.
- According to the RBI guidelines, the balance in your forex card should not exceed the value equals to $2000 dollars. So, make sure to encash your remaining balance after returning from the trip.