Top 10 Best Forex Cards in India

Do you intend to travel internationally? Do you find it tough to keep track of your costs when traveling abroad? If you answered yes, we have a quick solution for you: the forex card. A forex card is a must-have for everyone who enjoys traveling.

It allows us to carry any currency we want and makes the payment process easy and convenient. Forex cards, like any other debit or credit card, can be used to withdraw cash from an ATM. This post recommends the best forex cards in India so that you can travel without worry.

You may pay for bus or rail tickets, taxi prices, restaurant bills, shopping, and more with a single swipe of your card, making your travel experience easier.

What Is A Forex Card?

A Forex card, also known as a prepaid card, prepaid travel money card, or travel money card, is one of the safest and most cost-effective ways to carry money when visiting another nation. It is one of the most widely approved methods of carrying foreign currency, making it a boon to all travelers.

A forex card is a prepaid credit card that allows you to deposit funds in foreign currency based on the country you will be visiting. You can pay with your card immediately or withdraw cash from ATMs. You won’t have to worry about bringing cash around with you, and this choice is far safer.

Types of Forex Cards In India?

There are various types of Forex cards but are distinctly divided into two main categories. The two main categories of Forex cards in India are as follows:

Single Currency Forex Cards

Single currency forex cards, as the name implies, may only be loaded with one currency and can be reloaded as many times as the user desires. This single currency card features a hefty cross currency charge anytime users switch currencies and has limited benefits.

Multi-Currency Forex Card

Users of multi-currency forex cards can preload the card with a variety of currencies, depending on the card type.

Banks, financial institutions, and travel firms provide applicants the option of loading their cards with the currency of their choice. A card with 23 different currencies that can be used everywhere in the world. It also offers its users some additional cost savings.

Other forex cards with special features are also being introduced, such as Student Forex cards for students interested in traveling abroad and Contactless Forex cards that allow users to pay at retail outlets in a much safer manner. As a result, consumers should choose forex cards that benefit them according to their needs.

10 Best Forex Cards in India 

1. Axis Bank Multi-Currency Forex Card

Axis Bank Forex Multi-Currency Card is one of the best forex cards in India, it helps the applicants as they don’t necessarily need to reload their cards with different currencies every time they travel to a new destination. This card also protects from currency fluctuations. 

This card can even enable you pay out your money once you’ve completed your journey. Contactless technology eliminates the requirement for consumers to make physical contact and allows them to pay just by waving their card across a contactless scanner.

There is also a feature called an Image Forex card that allows applicants to add an image on their cards, which can be their own or one provided by Axis Bank.

The following are the currencies that can be loaded:

USD, Euro, British Pound, Singapore Dollar, Australian Dollar, Canadian Dollar, Japanese Yen, Swedish Krona, Thai Baht, United Arab Emirates Dirham, Saudi Riyal, Hong Kong Dollar, New Zealand Dollar, Danish Krone, South African Rand, United Arab Emirates Dirham, Saudi Riyal, Hong Kong Dollar, New Zealand Dollar, Danish Krone,

Fees:

  • Costs for initial insurance: Rs 300 plus GST
  • Rs 100 reload
  • Rs 100 is the Reactive Fee.
  • 3.5% in cross-currency fees%
  • These cards have a 5-year validity period.

2. YES Bank Multi-Currency Travel Card

Multi-Currency Travel Card from YES Bank is also one of the best forex cards in India because it is highly secured and cost-efficient. The good thing is that you can easily manage this card from anywhere and at any time from the customer care portal online. You can also observe your previous transaction.

The following are the currencies that can be loaded:

USD (United States Dollar), GBP (British Pound), EUR (Euro), SGD (Singapore Dollar), AUD (Australian Dollar), AED (UAE Dirhams), JPY (Japanese Yen), CAD (Canadian Dollar), HKD (Hong Kong Dollar), CHF (Switzerland Franc) are all examples of currencies.)

Fees :

Fees for insurance: Rs 125

Rs 100 reload

Validity: 2 years, and users can reload it as many times as they like during that time.

Also Read: The Top 10 Online Shopping Credit Cards 

3. HDFC Multi-Currency Forex Card In India

HDFC Forex Multi-Currency Card is one of the most popular in the market. It offers about 22 currencies under a single card.

These cards have capabilities such as mix cash between two currencies, are contactless, and come with supplementary insurance and concierge services. They also shield users from currency exchange rate changes.

Consumers are also entitled to compensation of up to Rs 5 lakhs in the event of fraud.

The following are the currencies that can be loaded:

Euro, Oman Riyal, Korean Won, UAE Dirhams, Japanese Yen, Saudi Riyal, Sterling Pound, Malaysian Ringgit, Norwegian Krone, Swiss Franc, Thailand Baht, Danish Krone, Swedish Krona, South African Rand, US Dollar, New Zealand Dollar, Kuwait Dinar, Australian Dollar, Hong Kong Dollar, Qatari Riyal, Canadian Dollar, Singapore Dollar, Bahrain Dinar, Euro, Oman Riyal, Korean Won, UAE Dirham

Fees:

Cost for issuance: Rs 500 plus GST

Cost for reloading: Rs 75 + GST

Fee for responding: Rs 100

2% fee for currency conversion

4. Indusind Bank Multi-Currency Forex Card In India

Multi-Currency Card from Indusind Bank is famous among those who travel abroad frequently. This card offers 14 different currencies with add-on features like zero foreign markup rates and the fact that it can be operated online. It provides additional benefits like customers can get up to two free ATM withdrawals per month.

The following are the currencies that can be loaded:

The United States Dollar (USD), the Canadian Dollar (CAD), the Australian Dollar (AUD), the Saudi Riyal (SAR), the Euro (EUR), the Singapore Dollar (SGD), the British Pound (GBP), and the United Arab Emirates Dirham (AED) are the most common currencies.)

Fees:

Cost for issuing a single card: Rs.150 plus GST

Fee for issuing a paired card: Rs 250

Cost for reloading: Rs.100 plus GST

3.5% in cross-currency fees

5. Thomas Cook Forex Card In India

Thomas Cook is one of the popular travel companies that also offer forex cards in India. With their card you can even send money abroad, they offer 9 different currencies. It is a trusted brand and provides insurance coverage of about $10000. In addition, features include toll-free customer service, which is available on online platforms helping in checking balance, statements, and blocking cards. 

The following are the currencies that can be loaded:

Dollars, Euros, Australian Dollars, British Pounds, Swiss Francs, Canadian Dollars, Singapore Dollars, and Japanese Yen are all examples of currency.

Fees:

Cost for issuance: Rs.150 plus GST

Cost for reloading: Rs.100 plus GST

6. ICICI Bank Forex Prepaid Cards

ICICI Bank Prepaid Forex Card is a great choice if you want to travel to a specific location or destination. It is flexible to work with your travel plans. You can reload this card at any ICICI forex branches, their online platform, or even their iMobile application.

Furthermore, it offers 20% discounts on restaurant bills, shopping, and a variety of other outlets around the world. They also offer up to Rs 10,00,000 in insurance coverage. To open this account with ICICI bank, no savings or current accounts are necessary, and the card is delivered in just two days.

The ICICI Forex Card allows you to load a variety of currencies:

Euro (EUR), Swiss Franc (CHF), Japanese Yen (JPY), Swedish Krona (SEK), South African Rand (ZAR), Saudi Riyal (SAR), Thai Baht (THB), New Zealand Dollar (NZD), Hong Kong Dollar (HKD).)

Charges and Fees:

Cost for issuance: Rs 150 (once)

Cost for reloading: Rs 100

USD 5 (for every 180 days of idleness) Reactive Fee)

3.5% currency conversion fee%

Also Read: India’s Top 10 International Banks

7. SBI Multi-Currency Foreign Travel Card

SBI Foreign Travel Card (Multi-Currency) is one of the safest and wise options when it comes to forex cards in India. It can be loaded with 7 currencies from different countries. You can use it for many payments like for restaurant bills, shopping, dining, and other accommodation bills worldwide as it consists of the MasterCard Acceptance Mark. It is available 24/7 worldwide.   

The following are the currencies that can be loaded:

US Dollars (USD), Pound Sterling (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), Japanese Yen (YEN), Saudi Riyal (SAR), and Singapore Dollar (SGD) are the most commonly used currencies.)

Fees:

Cost for insurance: Rs 100 plus GST

Costs for further services: Rs 100 plus GST

Costs for reloading: Rs 50 plus GST

8. Axis Bank Diners Card

Diner cards from Axis Bank only allow the applicants to load USD. They provide gift cards that give you 2 points every time you purchase up to 5 USD. Moreover, its additional benefits consist of medical treatment and ATM robbery for up to Rs 60,000. 

Users can transfer their balance to their domestic accounts at any time.

Fees:

Rs150 plus tax for card activation

Fee for reloading: Rs 100 plus GST

Cost for an Add-on Card: Rs 100 plus GST

9. HDFC Bank ISIC Student ForexPlus Card 

ISIC Student ForexPlus Card from HDFC Bank was introduced for students as its name suggests and helps with the student identity card. It comes with additional benefits as well as discounts in around 130 countries for books, travel expenses, and many more. The baggage loss charges are about Rs 50,000 and passport reconstruction covers up to Rs 20,000. In addition, Customers get benefits like free complimentary international SIM with a talk time of Rs 200 and it can be excessed 60 days before the day of travel.

The following are the currencies that can be loaded:

Dollars, Euros, and Pounds Sterling

Fees: 

Costs for card issuance: Rs 300

Costs for reloading: $75

Costs for reissue: Rs 100

10. Niyo Global Card

Niyo Global Card is the best and most famous forex card as reviewed by one of the leading travelling companies. This is issued with the cooperation of DCB Bank. Moreover, it can be easily operated by their mobile application, you can even lock the card if it’s not in use.

Fees:

Costs for joining and renewing are both nothing.

Zero ATM withdrawals

Also Read: India’s Top 15 Best Debit Cards

Best Forex Cards in India – Comparision

Sr. No. Card Initial Insurance Fee (in Rs) Reload Fee Additional Benefits
1 Axis Bank Multi-Currency Forex Card 300 plus GST 100 (₹) Protects from currency fluctuation.You can encash your money at your arrival. Contactless technology and Image Forex card features are also available. 
2 YES Bank Multi-Currency Travel Forex Card 125 100 (₹) Highly secured and cost-efficient.Can be operated at any time and everywhere with their online portal.
3 HDFC Multi-Currency Forex Card 500 plus GST 75 (₹) plus GST Shuffle funds between two different currencies,It is contactless with additional insurance coverage and concierge service.Also protects from currency fluctuations. 
4 IndusInd Bank Multi-Currency Forex Card 150 (single) 250 (paired)(plus GST in both) 100 (₹) plus GST Customers get two free ATM withdrawals per month.Applicable for 14 currencies with add-on features like zero foreign markup rates.It can be operated online and is good for people who travel frequently. 
5 Thomas Cook Forex Card 150 plus GST 100 (₹) plus GST You can even send money abroadThey offer 9 different currencies.toll-free customer service, which is available on online platforms helping in checking balance, statements, and blocking cards.
6 ICICI Bank Forex Prepaid Card 150 (one time) 100 (₹) It is people who want to travel to a specific location.You can reload this card at any ICICI forex branches, their online platform, or even their iMobile application.Provides 20 % discounts on the restaurant bills, fares, dining expenses, etc. 
7 SBI Multi-Currency Foreign Travel Card  100 plus GST 50 (₹) plus GST It can be loaded with 7 currencies from different countries. You can make many payments like for restaurant bills, shopping, dining, and other accommodation bills worldwide as it consists of the MasterCard Acceptance Mark. It is available 24/7 worldwide
8 Axis Bank Diner Card 150 plus GST 100 (₹) plus GST Only allow the applicants to load USD. They provide gift cards that give you 2 points every time you purchase up to 5 USD. Its additional benefits consist of medical treatment and ATM robbery for up to Rs 60,000. 
9 HDFC Bank ISIC Student ForexPlus Card  300 75 (₹) It helps with the student identity card. Customers get free complimentary international SIM with a talk time of Rs 200 and it can be excessed 60 days before the day of travel.Provides discounts in around 130 countries for books, travel expenses, and other expenses.The baggage loss charges are about Rs 50,000 and passport reconstruction covers up to Rs 20,000. 
10 Niyo Global Card NA NA This is issued with the cooperation of DCB Bank. Moreover, it can be easily operated by their mobile application, you can even lock the card if it’s not in use.

Also Read: India’s Top 8 Best Credit Cards 

Final Thoughts 

With the passage of time, forex cards are becoming increasingly popular in India. A currency card is a godsend for all travelers, providing them with a cost-effective and convenient means to make payments. With their added benefits, it’s a deal you shouldn’t pass up if you’re a travel enthusiast who enjoys exploring new places. Finally, making your travel experience pleasant and tailored to your needs, such as a single currency card for travel inside a single nation and multi-currency forex cards for travel across multiple countries with additional perks.

Frequently Asked Questions

What can be the minimum amount for loading my forex card?

It depends on the cardholder and the type of card that was issued.

What can be the minimum amount for loading my forex card?

For foreign travel, forex cards are more beneficial and competitive. It is frequently used and saves money on conversion expenses.

Can I reload my card from overseas?

No, most firms do not enable you to reload your card from abroad, however you can choose someone to refill your card on your behalf.

How can I withdraw money using a Forex card?

You can withdraw money from any ATM by selecting the credit card option as the card type. Following that, all you have to do is follow the on-screen directions.

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