Best Forex Cards In India

If you travel a lot, then a Forex card in your pocket can help save on costs. You might puzzle out finding the perfect Forex card for you. We have attempted to help you understand different types of Forex Cards, its features, eligibility criteria, benefits, and documents required to get the best Forex Cards in India. There are also individual factors to consider before you make yourself a final choice. We have summarized all of these for you at the end. So keep on reading to find out.

Top 7 Best Forex Cards In India

Here we have brought the top 7 Forex cards for you, which are best in their features and benefits.

1. Axis Bank Forex Card

To meet your traveling needs, Axis bank offers multiple Forex cards. Few of the cards provide various currencies; however, some allow you to load only one currency. Few other Forex cards are available on MasterCard or VISA platform; however, some are available on both platforms to offer more benefits. The cards are

• Axis Bank India Travelcard
• Axis Bank Single Currency card
• Axis Bank World Traveler Forex card
• Axis Bank Multi-Currency Forex Card

Axis Bank India Travel Card

If you are NRIs (Non-Resident Indians) or Foreign Nationals, this card is exclusively meant for you. This card is valid only in India and is available on the VISA platform only. If you are traveling to India, you can use this card during your stay in the country.

Benefits and Features of Axis Bank Travel Card

• You can avail of these cars as over the counter. Alternatively, it can be purchased from any Axis bank branch in exchange for foreign currency.
• You can load up to Rs. 2 Lakh in a single go.
• Withdrawals from ATM are protected with signature-based and PIN-based approvals.
• You don’t have to pay cross-currency charges.
• You can use this card at more than 5 million ATMs, and retail stores accept VISA cards across India and without a transaction fee.

Axis Bank Single Currency Forex Card

If your foreign tour is limited to only one country, then this card is best for you. Once loaded with currency, you cannot load this card with any other currency. You need to purchase another Forex Card for loading a different currency. Currently, you can get this card in below 11 different currencies as per your requirement.

• Saudi Riyal
• UAE Dirham
• Yen
• Swedish Krona
• Swiss Franc
• Singapore Dollars
• Canadian Dollars
• Australian Dollars
• Euros
• Pounds
• US Dollars

Benefits and Features Of Axis Bank Single Currency Forex Card

• If you have a balance in Forex Card after completing your trip, it can be easily encashed or transfer to your account.
• If you are making payments at merchant outlets, you can earn 2 reward points every $5.
• The maximum cash withdrawal limit is USD 5,000 or equivalent.
• The maximum daily purchase limit is USD 10,000 or equivalent.
• You will get complimentary insurance of Rs. 3 Lakh, which will act as coverage against any fraudulent use.
• You can use this card across the globe except for Bhutan, Nepal, and India.
• You can access this Forex Card on both MasterCard and VISA platforms.

Axis Bank World Traveller Forex Card

This multi-currency prepaid card is c0-powered by Miles & More. You can use this card in India and other foreign countries as well. With air miles reward point, this card becomes traveler friendly. With the help of this card, you can make quick payments at merchant stores. One can load below 17 currencies on this card.

• Indian Rupee
• South African Rand
• Danish Kroner
• New Zealand Dollar
• Hong Kong Dollar
• Saudi Riyal
• UAE Dirham
• Thai Baht
• Swedish Krona
• Swiss Franc
• Japanese Yen
• Canadian Dollars
• Australian Dollars
• Singapore Dollars
• Pounds
• Euros
• United States Dollars

Axis Bank Multi-Currency Forex Card

This card will allow you to preload cash in multiple currencies, eliminating the need to own different cards for every country visit. It comes with a validity of 5 years, so if you are traveling to multiple countries in the upcoming years, this card will be the right choice. It offers elite dining benefits, unique travel offers, etc. The cash can be loaded in below 16 currencies.

• United States Dollars
• Euros
• Pounds
• Singapore Dollars
• Australian Dollars
• Canadian Dollars
• Japanese Yen
• Swiss Franc
• Swedish Krona
• Thai Baht
• UAE Dirham
• Saudi Riyal
• Hong Kong Dollar
• New Zealand Dollar
• Danish Kroner
• South African Rand

Benefits And Features Of Axis Bank Multi-Currency Forex Card

• There is a separate wallet for every current. You can load currency as per your requirement.
• This card is enabled with Pay Wave technology to make payments by just waving the card on the POS terminal.
• Because of locked-in exchange rate functionality, the Forex Card’s cash will remain unaffected from currency rate fluctuation.
• You can earn 2 reward points on the purchase of every $5.
• Insurance of Rs.3 Lakh.
• You can use this card at 30 million VISA merchant stores and on 1000 e-commerce websites.
• After completing the trip, you can either retain the balance for future trips or encash it.

Documents Required For Axis Bank Forex Cards

• Tickets
• Visa
• PAN card
• Form A2
• Passport

2. HDFC Forex Card

Currently, HDFC offers four types of Forex cards. Every card is made for a unique traveling purpose. Four cards are.

1. MakeMyTrip HDFC Bank ForexPlus Card
2. ISIC Student ForexPlus Card
3. Multicurrency Platinum ForexPlus Chip Card
4. Regalia Forex Card

MakeMyTrip HDFC Bank ForexPlus Card

This is a co-branded HDFC Forex card with MakeMyTrip. Along with other features, one can enjoy the benefit of online currency management, tap, and pay, and many more.

Benefits And Features Of MakeMyTrip HDFC Forex Card

• Assistance for emergency cash delivery.
• The facility of backup card
• The facility of temporary card blocking
• Protection against fluctuation from foreign exchange rates.
• The benefit of contactless card
• Free airport lounge access and insurance coverage
• The card can be loaded in 22 currencies.

ISIC Student ForexPlus Card

If you are going abroad for higher education, then you can avail ISIC student ForexPlus card. This card works in partnership with MasterCard International. This card is currently available in three currencies, i.e., Sterling Pounds, Euros, US Dollars. This card can be used in any country, excluding Bhutan, Nepal, and India.

Benefits And Features of ISIC Forex Card

• You can purchase 60 days in advance before the traveling date.
• It can be activated within four hours of receiving funds.
• The card acts as your identity card as a student across the world.
• Insurance cover of Rs. 5 Lakh.

Multicurrency Platinum ForexPlus Chip Card

Suppose you are traveling across multiple countries, then this card is for you. Here, you can load around 23 different currencies.

Benefits And Features Of Multicurrency Platinum card

• Free international Sim card with a talk time of Rs. 200.
• In the case of stolen or lost, HDFC provides emergency cash delivery services.
• Handsome discounts on booking a local home, shopping, car booking, etc.
• Insurance cover of Rs. 5 Lakh.
• Online currency management benefits.
• Emergency backup card if the primary card is lost or stolen.

HDFC Regalia Forex Card

If you are a regular traveler, then Regalia Forex Card is for you. Because of this card, you need not keep multiple currencies. This card’s main features are zero cross-currency charges, concierge services, Tap-n-Pay and emergency cash assistance service, and many more.

Benefits and Features of HDFC Regalia Forex Card

• Worldwide phone banking support.
• Security against skimming, misuse, and counterfeiting up to a limit of Rs 5 Lakh.
• Zero chance of damage or loss of money.
• The card is available in USD (US Dollars).
• Zero cross currency conversion charges.
• Emergency cash assistance services

Who Can Apply For HDFC Forex Cards?

Anyone can apply for the HDFC Forex Card. However, you should not be the existing customer of HDFC bank, and you should have any of the below-traveling purposes.

• Studies
• Medical facility
• Employment
• Immigration
• Business Tours
• Personal visits and holidays

Documents Required for HDFC Forex Card

• Address proof
• Complete application form for the card
• Self-attested Xerox of travel ticket
• Self-attested Xerox of Visa
• Self-attested Xerox of passport
• Cancel cheque
• Recent bank statements
• Passport size photo (For ISIC Forex Card)
• Letter of appointment or admission by university (For ISIC Forex Card)

HDFC Forex Card Rates And Charges

3. Thomas Cook Forex Card

Thomas Cook is one of the leading travel related financial services providing companies across the country, offering services like travel insurance, corporate travel, foreign exchange passport, and visa. One of the popular services provided by this company is the Forex card. Thomas Cook offers two Forex cards, one currency card, and a Borderless prepaid card (Multicurrency Forex card).

One Currency Card

Another variant of the Thomas Cook Forex card is one currency card, and the currency you can load is USD (US Dollars). The main advantage of getting this card is ‘zero currency conversion.’ So you need not suffer charges for currency conversion to pay bills in the local destinations. The validity of this card is up to five years. The minimum and maximum limit for this card are USD 100 to USD 10,000.

Borderless Prepaid Card (Multi-Currency Card)

This card is designed specifically if you are traveling across the globe. Here you can load eight currencies in a single card, which will help you journey across the globe. Also, the currency conversion fee for this card is 4.25%, which is higher. This is one of the best-prepaid Forex cards in India. Currencies you can load are.

• Japanese Yen (JPY)
• Canadian Dollars (CAD)
• British Pound(GBP)
• Euro (EUR)
• US Dollars (USD)
• Australian Dollars (AUD)
• Swiss Francs(CHF)
• Singapore Dollars(SGD)

Card Charges And Fee (Both Forex Cards)

• Insurance fee and Initial load fee is Rs. 150/-
• Reload fee is Rs. 100/-

Benefits of Thomas Cook Cards (Both Forex Cards)

• If lost or stolen, it can be replaced for free.
• You can avail backup card at nil cost.
• Up to USD 10,000 of insurance cover.
• Both Forex cards are PIN and chip-enabled, which comes with fraud protection.
• If any purchase is made at North American airports, then you can earn loyalty points.

4. SBI Forex Card

SBI bank offers two Forex cards i.e.

• State Bank Foreign Travel Card, which is on the VISA platform
• Multi-currency State Bank Foreign Travelcard on the Master Card platform.

If you are a new customer or an old one, you can avail of this card either by visiting nearby SBI banks or being available online.

State Bank Foreign Travel Card

This is a prepaid overseas currency card, which will make your travel comfortable. This card is chip-based, which makes your information encrypted and confidential. Via this card, you can take your cash across the globe except for Nepal, Bhutan, and India. You can get this card in eight different currencies

• US Dollars (USD)
• Euro (EUR)
• Pound Sterling (GBP)
• Japanese Yen (JPY)
• Singapore Dollar (SGD)
• Australian Dollar (AUD)
• Canadian Dollar (CAD)
• Saudi Riyal (SAR)

Benefits And Features Of State bank Foreign Travel Card

• You can get this card on VISA international platform.
• You can use this card on more than 1.6 million VISA ATMs and around 28 million merchant stores.
• This card can be obtained from 1100 branches of SBI.
• You can use this card for pilgrimage, tourism, medical facility, etc.
• If you are from a public sector undertaking, companies, and government departments, then also you can use this card.
• You can load and reload the below amounts

Charges And Fees On Travel Forex card

State Bank Multi-Currency Foreign Travel Card

During vacation, you can travel hassle-free across the globe, as Multi-Currency Foreign Travel Card will take care of all your money related issues. This card can be loaded with the below currencies

• US Dollars
• Euros
• British Pounds
• Singapore Dollars

Benefits And Features Of State Bank Multi-Currency Foreign Travel Card.

• You can reload your State bank Multi-Currency Foreign Travel Card with more funds before getting on a new trip.
• These cards are enabling with two-way security of PIN and Chip.
• You are provided with an additional card known as a backup car, which will act as a replacement in any theft.
• You can use 24 x 7 global assistance.
• Your card will not be linked to your bank account. So, need not worry here.
• You can use this card in various countries.
• This card can be used in more than 2 million ATMs globally, which accepts Master Cards.

Charges And Fees On Multi-Currency Foreign Travel Card

Documents Required To Apply for Both SBI Forex cards

• Travel related documents
• Address Proof
• PAN card
• Form A2
• Xerox of passport.

5. YES Bank Forex Card

If you are traveling to multiple destinations abroad and do not want to spend too much money on card issuance, then ‘YES Bank Multi-currency travel Forex card’ is for you. This card’s issue fee is Rs. 125, the lowest fee among all Forex Cards. With a minimum joining fee, the Forex Card offers you a wallet of 10 currencies and a low-cost currency charge of 2.75%.

Currencies You Can Load For YES Bank Forex Card

Charges And Fee For YES Bank Forex Card

Benefits Of Having Yes Bank Forex Card

• The card can automatically choose the currency wallet as per the local currency of the transaction.
• Payments can be made on all international online merchant sites.
• Cash can be withdrawn on any MasterCard/VISA ATMs around the globe.
• Insurance coverage up to 3 Lakh.
• The validity of the card is up to 5 years.
• 8% discount can be availed on Hotel.com
• Yes, the Bank Forex card has 2nd least currency fee after the HDFC multi-currency Forex card.

6. NiYO Forex Card

This is one of the next generation Fore cards, which has eliminated many pain points of Forex Cards. Firstly, this is an INR card used in 150+ countries, including India, and can be loaded with any bank account through UPI, NEFT, or IMPS, without any fee. With the NiYO global application’s help, you can easily manage your card’s movement and access many useful features.

Features Of NiYO Card

• 24 x 7 Whatsapp priority service
• Reset card PIN instantly with NiYO Global application
• Lock or unlock card using the global NiYO app.
• Track real-time expenses using Niyo Global application.
• Leftover money can be transferred to your bank account.
• You can use it online for transactions in more than 150currencies
• You can use it on POS terminals accepting VISA.
• You can use it without a zero Forex mark-up fee.
• Load this card with UPI/NEFT/IMPS without any charges

Charges For NiYO card

• No ATM withdrawal fee
• No foreign currency mark-up fee
• No VISA exchange rate applicable for foreign transaction
• No charges for loading or unloading the card
• No renewal or joining fee.

7. ICICI Forex Card

ICICI Forex Card can be loaded with multiple currencies. ICICI cards are offered in partnership with MasterCard as well as VISA card. For getting this card, you need not be the account holder of the bank. However, if you are a customer, then it can make things convenient for you. ICICI offers five types of cards.

• ICICI Bank Goibibo Travel Card
• ICICI Bank Coral Travel Card
• ICICI Bank Sapphiro Travel Card
• ICICI Bank Student Travel Card
• ICICI Bank Multi-Currency Travel Card

ICICI Bank Goibibo Travel Card

This card will provide you the benefit of visiting multiple countries with only one card. Along with that, you can easily get discounts on hotels, flight tickets, bookings, etc.

Benefits And Features Of Goibibo Travel Card

• A discount of Rs 500 on Croma outlet shopping
• Flat discount of 15% on dining in more than 100 Indian restaurants
• On loading $1000 to the card, you can get a voucher of Rs. 1000
• Complementary OneAssist wallet assistance protection plan of Rs. 1600
• You can get Goibibo vouchers of Rs. 15,000
• You can earn go cash gift vouchers of Rs. 500
• Joining the benefit of Rs. 20,000

Charges And Fees

ICICI Coral Travel Card

This is one of the best cards if you are looking for reward trips

Benefits and Features Of Coral Travel Card

• One Assist wallet assistance
• Get an Uber voucher of Rs 500 for loading a card with USD 1000
• Insurance coverage of Rs. 5 Lakh
• Book my show voucher of Rs. 500
• Joining benefits of Rs. 3,000

Charges And Fees

ICICI Bank Sapphiro Travelcard

With complementary international lounge access, this card will give you an enriched traveling experience across the globe.

Benefits And Features Of Sapphiro Travel Card

• Insurance coverage of Rs. 5 lakh
• 5% cashback on airlines and hotel expenses
• Get Uber discount vouchers
• One Assist wallet assistance
• SRL executive health checkups of Rs. 2750
• Get a dragon pass of USD 99

Charges And Fees

ICICI Bank Student Travel Card

This is an ideal travel card if you are traveling for study purposes. This is one of the best Forex Cards for students in India.

Benefit And Features of Student Travel Card

• Get Croma shopping vouchers
• Insurance coverage of Rs 5 lakh
• Card protection insurance of Rs. 1600
• ISIC (International Student Identity Card) membership of Rs. 590.

Charges And Fees

ICICI Bank Multi-Currency Travelcard

This card allows you to load multiple currencies in one card.

Benefits And Features Of ICICI Bank Multi-Currency Travel Card

• Duty-free shopping at an Indian airport.
• Hassle-free wallet to wallet transfer
• Free replacement card
• Get exciting discount worldwide
• The benefit of the ‘self-care portal.’

Fee And Charges

Some Facts about Forex Cards

Here are a few interesting facts regarding Best Forex Travel cards in India.

• According to RBI guidelines, you cannot keep more than USD 2,000 in your Forex card.
• All banks issue Forex travel cards at a meager rate ranging between Rs. 150 to Rs. 500
• You need not worry regarding currency rate fluctuation as the card will be loaded as per today’s currency rate.
• A fee for currency conversion is always included in the price.
• No additional fee is charged on the purchase at stores and shops.
• Money can be withdrawn from any ATM worldwide; however, you need to pay international transaction charges.

Factors to Consider Before Buying a Forex Card

• Always keep your Forex card helpline number handy.
• Check for the activation time of your card.
• Be aware of the PIN generation/reset method in case if you forgot it.
• Always check the daily limit of your card and check if it is suitable as per your requirements.

FAQs