Tips for Evaluating the Best Forex Card in India

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One of the biggest concerns while traveling abroad is how you will manage the currency. What amount should you carry? Should you carry a debit card or credit card? A simple answer to the above questions is ‘Carry a Forex card.’

Forex card lets you load multiple forms of currency in a single card irrespective of your location. It’s not only safe but a secure form of carrying money when you travel abroad. You can use it to pay for your expenses abroad, and you can reload the card if you’re out of currency.

The best part about a travel card or forex card is; all merchant outlets accept it worldwide. Even if the forex rate increases or decreases, the rate at which you load money in the card remains the same. Some forex cards let you load up to 25 currencies at a single time.

Forex card works like a debit and credit card, and you can withdraw cash from ATMs abroad. Many banks, financial institutes, and forex websites provide prepaid forex cards to their customers. If you’re planning to buy the card, evaluate the best forex card in India to make a wise decision, and travel hassle-free.

How should you select the best Forex Card in India:

  1. Exchange rate

Compare the exchange rate when you buy a forex card. Different providers may charge different rates, so choose a card that offers you a max advantage.

  1. Fees

Most providers charge transfer or conversion fees. Read the fine print, and check ATM withdrawal fees, currency fees, and annual fees.

  1. ATM support

A forex card with an ATM withdrawal feature can be a lifesaver. Choose a card that lets you withdraw cash freely.

  1. Mobile support

An app with forex card alerts and notifications may make your travel hassle-free. Choose a card with dedicated app support.

Benefits of Forex cards:-

  • Forex cards are a cheaper alternative to exchange currency, and you may receive a great conversion rate.
  • It’s the safest option, and it comes with chip technology.
  • It provides ease of use, as its universally accepted.
  • You can encash or transfer the remaining balance on the card.
  • There are no charges when you swipe the forex card for your transactions.
  • In the event of loss or theft, you can block the card.

Some of the best forex cards available in India:-

  1. BookMyForex Travel Card

Get a seamless traveling experience with BookMyForex travel or forex card. It lets you load multiple currencies up to 13 at a time. You don’t have to carry a separate card for multiple destinations, and that makes it the best forex card in India.

Features of the card:-

  • The card lets you make a contactless payment with a single tap POS terminal.
  • It lets you reload your forex card at zero margins, i.e., devoid of paying any margin on the interbank rates. Other banks may charge up to 3% extra, so it may result in a heavy amount on the card loading.
  • The card offers you a direct block facility if you lose your card or a suspicious transaction takes place on your card. It lets you block your card without calling the customer support team, which offers complete security.
  • It gives you real-time notifications and alerts of all the transactions. It lets you view the spending amount; you can track your forex card balance.
  • You can encash the balance and transfer it to a foreign currency domestic account. The card allows the balance to stay if you don’t want to transfer.
  1. Axis Bank Forex Card

Axis bank offers a multicurrency forex card that allows you to load 16 currencies at a single time. The card can help you save money on airfare, student fees, and cash withdrawal.

Features of the card:-

  • The contactless feature of the card uses Visapaywave technology. It allows you to pay by waving your card. With contactless technology, you can save your time at the cash counter.
  • The card allows you to customize the design with a personalized image. You can choose from designs available in the image gallery.
  • The security feature of the card lets you block the card for an emergency assistance facility. You can get emergency cash to pay for flights or hotel bills and revive assistance on the lost passports.
  • It comes with an insurance coverage facility, and the validity of the card is five years.
  • It gives you the benefit of a minimum 15% discount on restaurants. You can earn two reward points for every dollar spent.
  • It provides a notification alert facility.
  1. HDFC Bank Forex Card

HDFC forex card is a cashless and safe way to carry foreign currency abroad. The card can make payments for – dining, shopping, and lodging. It allows you to load 22different foreign currencies.

Features of the card:-

  • The card features worldwide acceptability in all visa and merchant-related outlets. It allows you to make E-com purchases.
  • It allows you to block and unblock in case of an emergency.
  • It gives you the convenience of changing ATM pins using the net banking facility.
  • It provides emergency cash delivery assistance if you lose your card. You can also get a card replacement.
  • You’ll get insurance protection of up to 5 lacs that protects the card from misuse.
  • The forex card comes with pin-based transactions and embedded chip features, which keep it secure.
  • The card also provides ease of tracking with notifications and alerts.


Tips for buying a Forex card:-

– When you purchase a forex card, check if your card usage resonates with your requirements.

– You must enquire about the activation period of your card. Consider the currencies you need to load in the card, as it should depend on the location.

– If you’re visiting a location that does not support a forex card, you don’t need to invest in the card. According to the RBI rules, you can load up to 2.5 lac minimum in the card. Check for all the charges applied to most forex cards.

– Forex cards are available with many features and privileges, so you must choose a card that gives you max value when you travel aboard.

– Some cards are especially available for students and frequent travelers, so evaluate the features of the card before buying.

To Sum up,

Try taking full advantage of the forex card as it offers an excellent replacement for your credit card. It’s the smartest way to carry your money overseas. Don’t think about the conversion rates anymore. Once you load your forex card, it guarantees complete peace of mind. Swipe the card or use it for transactions, forex card is the best way to travel abroad.

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