As per RBI, an Indian can buy currency only if he/she is travelling abroad by providing his/her travel documents.
Yes, the foreign exchange limit remains the same as for adults. All travel documents and pan card of the parent is required.
A traveler can make payment in cash up to 50000 INR only per trip and per month.
Permissible foreign exchange can be drawn 60 days in advance..
Nepal and Bhutan
Yes. But the limit in the currency remains only 3000 USD even if travel is combined.
If the trip is cancelled, the foreign exchange drawn for the specific reason must be surrendered within 90 days from the date of purchase. If the trip is postponed, Forex can be retained if the postponed journey commences within 60 days from the date of purchase.
NRI's and Foreigners can encash up to 3000 USD/Equivalent per month (30 day’s period) for cash payment.
Foreigners in India can encash currencies by providing original passport with a valid visa.
On return from a foreign trip travellers are required to surrender unspent foreign exchange held in the form of currency notes within 90 day’s and T.C’s within 180 days of return. However, RBI has permitted to hold 2000 USD or equivalent for future purposes.
There is no limit to bring in the foreign currency, but if the currency amount exceeds more than 5000 USD or cumulative of currency, TC's exceeding 10000 USD, traveler should declare the same at customs and obtain CDF (Currency Declaration Form) duly signed and stamped by Customs Officials.
Forex cards are either Master or Visa and designed to be used abroad only other than Nepal and Bhutan. It can be swiped at merchant outlet for free, Cash withdrawal can be done in the ATMs and Online purchase can be made with the card while abroad.
USD, EUR, GBP, AUD, CAD, SGD, AED, CHF, JPY, THB, SAR, ZAR, NZD, HKD
In India, card balance can be checked in the ATMs of the card issuer, but the balance will be shown in USD. In abroad, balance can be checked in the ATM's, but it is chargeable. Best way to check balance is by logging on to card portal.
For ATM withdrawal, card issuer levies a fee in the range of USD 2 – 3 or equivalent per withdrawal. Apart from that certain ATM operators may charge an additional transaction fee (surcharge). Card issuer do not have any control on this. It is better to avoid such ATMs. You can use ALL Point ATMs to avoid surcharges.
Pre-authorization is a form of guarantee of payment taken by the merchant/hotel by making an estimate of your bill resulting in temporary blocking of funds on the card for 30 days. It is not recommended to use forex card for pre-authorization and instead be used for final bill settlement. For refund of blocked amount, please collect the merchant cancellation letter.
Yes, multiple currencies can be loaded at a time or different vacations.
Leisure, Business, and Education.
For Immigration and employment cards cannot be re-loaded.
Travelers above 14 years can buy a forex card.
To buy forex card payment should be from the card holder's savings account only. For minor’s payment should be from parents account. In the case of students' parents should transfer funds for card reload.
The card cannot be transferred to anybody else. It is intended to be used by person in whose name the card is being issued.
Call the customer care immediately and block the card to avoid any misappropriation. You may request for a replacement card, which may be chargeable or encash the balance once you are back in the India.
The vendor who has issued the card only can reload and redeem the forex card.
Yes, if card is not used for six months then Inactivity fees are charged.
Yes, it can be done by way of swiping the card under Cash Advance Transactions or Cash over the Counter. But these transactions are chargeable. Even withdrawal of cash over the counter at a bank or other financial agencies will be treated under this category and will be charged.
We provide the services to transfer money for following purposes:
* Education Abroad
* Medical Treatment Abroad
* Immigration consultancy fess
* Employment and processing and assessment fees
* Fees for examinations like GRE/GMAT/TOEFL
* Tour Remittances
* Visa processing fees
* Crew wages
* Film Shooting
* Maintenance of close blood relatives abroad
* Gift and many more
Under the liberalized remittance scheme (LRS), a resident Indian can remit up to 250000 USD per financial year.
When a student is travelling for the first time abroad for education, he/she can remit money to the university account. The fund could be received from either student’s or parent’s savings account. In case, student is already abroad, his/her parents can remit money towards overseas university fee.
Documents required are: Student passport, PAN card, university offer/demand letter and Remitter’s pan card and address proof. From 2nd year onward, Student ID and education continuation proof is required.
When a student is studying abroad, his parents or close relatives can transfer funds to his/her foreign bank account.
Passport/Aadhar card and PAN card of Remitter, Relationship proof and bank details of the beneficiary are required.
When a student is studying abroad, university fees can be paid by the parents.
Documents required are student passport, visa , course continuation letter, student ID card, and university bank details.
Remitter’s passport/Aadhar card and pan card is also required.
Father (Including step-father), Mother (Including step-mother), Son (Including stepson), Son's wife, Daughter, Daughter's husband, Brother (including step-brother) Sister (including step-sister)
Any valid ID with address proof and pan card of the remitter For Immigration and employment cards cannot be re-loaded.
Yes. Passport/Aadhar card and pan card and beneficiary bank details are required.
Within 2-3 working days from the date of processing of transaction. Swift copy is made available on subsequent working day of transaction.
The sender should be available as the KYC verification need to be done before processing the transaction.
The beneficiary banks may levy charges at their discretion to render the services, which is not in control of the remitting agency transferring the fund. The recipient should contact their banker in case of such charges being levied.
The foreign correspondence bank that receives the transfer may charge an additional amount for receiving and processing the transfer. These charges are commonly referred to as Intermediary charges or NOSTRO Charges. Please note these charges can vary depending on the number of foreign correspondent banks involved and can vary significantly. It is possible to absorb these charges at the sender end for an additional charge
Money can be sent abroad through the following modes:
Foreign Currency Demand Draft
You may transfer funds from such a joint account provided you are the primary account holder.
You can send money in 14 currencies through us - USD, EUR, GBP, CAD, AUD, CHF, AED, SGD, HKD, NZD, JPY, ZAR, NOK, SAR.