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Best Forex card for students studying abroad | Travel card

Study Abroad in UK

Planning to travel abroad and still not sure about buying the Forex Card? Well, all your Forex Card related questions will be answered here.

Forex Card is a prepaid travel card which works like a debit card and can be used in your international trip where you can withdraw the local currency of the country you are travelling to. Forex Card is also known as Travel Card; you can reload the card once you exhaust the amount, you can check the balance and swipe the card, it is very user-friendly and makes your trip hassle-free. In this blog we will see some important questions you might have about the Forex Card.

University of Bedfordshire

What is a Forex Card and How does it work?

Forex Card is a prepaid travel card where you can load a fixed amount of foreign currency and use it in your international trip like a debit card. Forex Card is user-friendly: you can use it for shopping, can withdraw the money from ATM in abroad, notably low charges compared to your debit and credit card.

University of Bedfordshire

How many Foreign Currency can be loaded in the Forex Card?

Nine Currencies can be loaded in the Forex Card they are:

  • United State Dollars [USD]
  • Great British Pound [GBP]
  • EURO
  • Singapore Dollar [SGD]
  • UAE Dirham [AED]
  • Australian Dollar [AUD]
  • Canadian Dollar [CAD]
  • Swiss Franc [CHF]
  • Japan Yen [JPY]
University of Bedfordshire

What are the documents required in order to get a Forex Card?

The documents depend on the travel purposes. Basic documents are same but additional documents may be required depending on purpose as listed below.

Leisure Purpose

  • Passport
  • Visa
  • Pan card
  • Air Ticket

Employment Purpose

  • Passport
  • Visa
  • Pan card
  • Air Ticket
  • Employement offer letter

Education Purpose

  • Passport
  • Visa
  • Pan card
  • Air Ticket
  • University Offer letter

Immigration Purpose

  • Passport
  • Visa
  • Pan card
  • Air Ticket
  • Immigration letter
University of Bedfordshire
  • What are the charges levied on withdrawals?
  • When you withdraw the cash from the overseas ATM there is charge of 2-3 USD equivalent by Card Issuer, which is mostly unavoidable. There may be charges levied by the disbursing bank (i.e. the ATM owning bank) also. User is required to use free ATMs to avoid such charges.

  • Can I reload the Forex Card when I exhaust the funds on the card?
  • Yes, one can reload the Forex Card when they exhaust the amount in the card even when travelling abroad. There is no additional charges on reload of the card, you can simply visit our website and choose the reload option.

  • Does all the ATM accept Forex Card?
  • Yes, all ATM in the overseas with the Visa or the MasterCard symbol accepts the Forex Card

  • Any Charges on the reload of Forex Card while I am in Abroad
  • No, there is no extra charges for the reload of the Forex Card while you are in abroad

    University of Bedfordshire
  • Can I transfer money from Forex card to the bank account?
  • You can transfer money from forex card to bank account but it is chargeable. Charges may vary from USD 1.75% to 2.50% of the amount transferred. However, transfer to bank account in India is not possible.

  • How much forex can be withdrawn at a time from ATM?
  • One can withdraw forex equivalent to 1500 USD per day from the ATM and for Dirham [AED] it is 2500 per day limit. Swipe is free and you can swipe up to 15000USD equivalent.

  • What is Multi Currency and Single currency Forex Card?
  • Multi-Currency Card is a blessing to a person who keeps on travelling for different countries as one can load 9 currencies in the same card which will be very helpful while you are travelling to multiple destinations.

    Single Currency Card is where you can load only US dollars and there are no cross currencies charges but when you withdraw from the ATM 5 USD equivalent will be charged.

  • What are the cross-currency charges?
  • Cross currency charges are charged when you use a different currency that is not in available in your card. For example, you are in a shopping mall in Dubai but your card is loaded with USD, the merchant will charge you for AED, in this situation you will be charged for Cross currency charges.

  • Can I encash the amount in the forex card after my trip?
  • Yes, you can encash the remaining forex in your Forex Card after 11 days from your date of arrival to India.

  • Are there any charges if I don’t use the Forex card for few months or years?
  • Yes, If the card is not used for more than 6 months, there will be an inactivity charge i.e around 6.99 USD+GST

  • What if I have loaded 4 currencies in a multi-currency card and I have to withdraw a particular currency does it have an option to select while I am using it in a ATM at overseas
  • Yes, there will be an option and you can select the desired currency to withdraw from the ATM.

    University of Bedfordshire
  • Benefits of Forex Card over Foreign Currency
  • If you are travelling abroad for long a vacation Forex Card is the best option over foreign currency. Compared to Foreign Currency you will get the Best rates for Forex Card and one can load up to 250000 USD equivalent to foreign currency for per financial year but where as you can carry only 3000 USD in cash for your overseas trip.

    It is easy to carry, you can load 9 currency in a single card and make your trip hassle-free. This card is valid for 5 year, Card rate is significantly cheaper than Foreign Currency, there is no extra charges when you swipe the card in the outlets, at the time of theft card can be blocked and you will be issued you a new card with a new pin. However, it is suggested to take a combination of both currency and card.

  • Is there any limit in order to the reload the Forex Card?
  • here is no limit while reloading the Forex Card, you can load up to the extent of your LRS limit, i.e., 250000 USD equivalent per financial year.

    Orient Exchange provides the best rate for Forex Card, they are easy to use and can be reloaded even while you are travelling abroad through our online portal in a simple process. Buy Forex Card online and get the best rate for Travel Card online.

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