Frequently Aksed Question (FAQs) on Forex Card (2024)

We don't call it #TheUltimateTravelHack for nothing! Here’s more on how the Axis Bank Forex Card will make your trip abroad even better.

  • planning a trip
  • when you are abroad
  • on your return

At what exchange rate can I load currency on the card?

Are there any student offers on the card?

Do I need to activate my card for performing e-commerce transactions?

What is the Axis Bank Forex Card?

What currencies can be loaded on this Forex Card?

Do I need to have an Axis Bank Account to purchase the Forex Card?

Do I need to apply for the card well in advance?

What documents do I need to submit when I purchase or reload the Forex Card ?

What are the costs involved at the time of purchase?

When can I start using the card?

What is my PIN?

How long is this card valid for?

Is the card cheaper than other forex options?

What all networks are is the card available on?

How much foreign currency can I load onto my Forex Card?

How do I load my card for the first time?

Is remote reloading possible on the card?

What about Insurance Cover?

Does the SMS alert facility start automatically when I get the Forex Card, or do I have to register for it?

Is there any restrictions on the usage of the Card in any of the country or currency?

Is there any limit to load the card through the Digital channel?

Criteria for tax residential status for an Individual as per Income Tax Act, 1961?

What is TCS? I need to know more about it.

How can I manage my Forex Card transactions for ATM, POS, Online and Contactless transactions? Also can I increase or decrease the limits for these channels?

Will I be able to use my Forex Card for Standing Instructions (SI)?

Which Standing Instructions will be declined?

How do I make payments to existing merchants with SI? Will my services be declined if the SI is not paid from my card?

Are there any offers on my card?

Can I swipe my Forex Card directly at merchant establishments?

Is there a transaction fee for swiping the Forex Card for payment at merchant establishments?

How can I use this Card to withdraw cash?

Do I need to share the PIN while swiping my card at a merchant?

Which ATMs accept the Forex Card?

Can I use the card while I’m in India?

How do I use this card at Points-of–Sale (POS)?

What all can I use this card for?

Can I reload the card?

How can I confirm if my card has been loaded/reloaded?

What are emergency assistance services and who can avail it?

What do I do if my card is lost or stolen?

What should I do if I lose my Forex Card /ATM PIN or Internet Banking password?

What if I forget my ATM PIN?

Does the Visa ATM display the foreign exchange rate of conversion?

Is there a daily limit of purchase at a merchant establishment?

Is there a fee levied for the use of Visa ATMs?

What options should I choose to withdraw cash from the ATM?

What are the exchange rates applicable when I use my Forex Card for transactions (cash withdrawal at ATMs and swiping at merchant outlets)?

Can I know more about pre-authorizations taken at hotels/car rentals/cruise liners and what needs to be done in such cases?

Whom should I contact, in case I have any dispute on a transaction?

Is there any other way in which I can keep a track of my balance and the latest transactions?

Are there any regulatory restrictions on usage of my card?

Are there any additional charges for this SMS alert facility?

How can a non-Axis customer login to the site?

What is Dynamic Currency Conversion?

Can I use the DCC option at the time of transaction?

What do I do with my card once I'm back?

How can I get a refund of my unspent balance?

Do I need to surrender the card at the branch at the time of encashment or can I retain the same?

What should I do if my Forex Card has expired but there is an unutilised balance on the card?

I am an existing Forex Card user, how do I activate this service?

'; // DataBind += '

'; // DataBind += a[i].Answer; // DataBind += '

'; // console.log(DataBind); // $("#accordion").append(DataBind); // } // else if (a[i].QuestionCategory == "2") { // var DataBind = '

'; // DataBind += '

'; // DataBind += '

'; // DataBind += ''; // DataBind += '' + a[i].Question + '

'; // DataBind += '

'; // DataBind += a[i].Answer; // DataBind += '

'; // console.log(DataBind); // } // else if (a[i].QuestionCategory == "3") { // var DataBind = '

'; // DataBind += '

'; // DataBind += '

'; // DataBind += ''; // DataBind += '' + a[i].Question + '

'; // DataBind += '

'; // DataBind += a[i].Answer; // DataBind += '

'; // console.log(DataBind); // } // } // }, // error: function (d) { // alert("error 1"); // } //}); //return false; }); $('#SearchFAQ').click(function (e) { e.preventDefault(); var Search = $("#txtSearch").val(); $.ajax({ async: true, type: "POST", url: "AxisWebService.asmx/GetForexFAQ", //It calls our web method contentType: "application/json; charset=utf-8", data: "{'Search':'" + Search + "'}", dataType: "json", success: function (data) { console.log(data.d); var a = JSON.parse(data.d); var Count = 0,t1= 0, t2 = 0, t3 = 0; $('#accordion').html(''); $("#accordion1").html(''); $("#accordion2").html(''); $("#norecordfound1").hide(); $("#norecordfound2").hide(); $("#norecordfound3").hide(); // var x = (typeof data.d) == 'string' ? eval('(' + data.d + ')') : data.d; for (var i = 0; i < a.length; i++) { if (a[i].QuestionCategory == "1") { if (Count == 0) { $('#tab3').removeClass('active'); $('#tab2').removeClass('active'); $("#tab1").addClass('active'); $('#trip').removeClass('tab-pane fade faq-one'); $('#abroad').removeClass('tab-pane fade faq-two active in'); $('#BackData').removeClass('tab-pane fade faq-three active in'); $('#trip').addClass('tab-pane fade faq-one active in'); $('#abroad').addClass('tab-pane fade faq-two'); $('#BackData').addClass('tab-pane fade faq-three'); Count = Count + 1; } t1++; var DataBind = '

'; DataBind += '

'; DataBind += '

'; DataBind += ''; DataBind += '' + a[i].Question + '

'; DataBind += '

'; DataBind += a[i].Answer; DataBind += '

'; console.log(DataBind); $("#accordion").append(DataBind); } else if (a[i].QuestionCategory == "2") { if (Count == 0) { $('#tab3').removeClass('active'); $('#tab1').removeClass('active'); $("#tab2").addClass('active'); $('#trip').removeClass('tab-pane fade faq-one active in'); $('#abroad').removeClass('tab-pane fade faq-two'); $('#BackData').removeClass('tab-pane fade faq-three active in'); $('#trip').addClass('tab-pane fade faq-one'); $('#abroad').addClass('tab-pane fade faq-two active in'); $('#BackData').addClass('tab-pane fade faq-three'); Count = Count + 1; } t2++; var DataBind = '

'; DataBind += '

'; DataBind += '

'; DataBind += ''; DataBind += '' + a[i].Question + '

'; DataBind += '

'; DataBind += a[i].Answer; DataBind += '

'; console.log(DataBind); $("#accordion1").append(DataBind); } else if (a[i].QuestionCategory == "3") { if (Count == 0) { $('#tab1').removeClass('active'); $('#tab2').removeClass('active'); $("#tab3").addClass('active'); $('#trip').removeClass('tab-pane fade faq-one active in'); $('#abroad').removeClass('tab-pane fade faq-two active in'); $('#BackData').removeClass('tab-pane fade faq-three'); $('#trip').addClass('tab-pane fade faq-one'); $('#abroad').addClass('tab-pane fade faq-two');$('#BackData').addClass('tab-pane fade faq-three active in'); Count = Count + 1; } t3++; var DataBind = '

'; DataBind += '

'; DataBind += '

'; DataBind += ''; DataBind += '' + a[i].Question + '

'; DataBind += '

'; DataBind += a[i].Answer; DataBind += '

'; console.log(DataBind); $("#accordion2").append(DataBind); } } if (a.length == 0) { $("#norecordfound1").show(); $("#norecordfound2").show(); $("#norecordfound3").show(); } else { if (t1 == 0) { $("#norecordfound1").show(); } else { $("#norecordfound1").hide(); } if (t2 == 0) { $("#norecordfound2").show(); } else { $("#norecordfound2").hide(); } if (t3 == 0) { $("#norecordfound3").show(); } else { $("#norecordfound3").hide(); } } }, error: function (d) { //alert("error"); } }); return false; });

Frequently Aksed Question (FAQs) on Forex Card (2024)

FAQs

What are the limitations of forex card? ›

Delving into the limitations and pitfalls of forex cards

This can be a disadvantage if you're travelling to less popular destinations. Reload charges: While reloading the card is convenient, it often comes with a fee. Inactivity fees: If the card is not used for a certain period, an inactivity fee may be charged.

Can a forex card be used to withdraw money from an ATM? ›

You can use the Forex Card to withdraw cash from any VISA/VISA Plus / Mastercard ATMs overseas. Just insert the card, select Checking/Current Account on the screen, and follow the instructions. Enter your PIN and indicate the amount you want to withdraw in the local currency.

Can someone else reload my forex card? ›

Yes, you can reload your Forex Card via Axis Mobile. Or you may leave a signed copy of the reload form and authorization with your family. Your family member can approach Axis Bank Branch with the Reload form. On submission of the documents and receipt of the payment, the card would be reloaded.

Is forex card really useful? ›

Forex Cards also offer enhanced security as PIN-protected, significantly reducing the theft risk. Moreover, these cards can be swiftly blocked to prevent unauthorised use in case of loss or theft. Most Forex Card transactions come without transaction fees, making them a cost-effective choice for international spending.

How long we can keep money in forex card? ›

Forex Cards usually have a validity of three to five years. You can simply retain leftover funds for your next trip or easily transfer it back to your bank account.

What happens to unused money in forex card? ›

Forex card is one of the seamless ways to access foreign currency while you are travelling abroad. It is common that you may have some unused or remaining balance on your forex card after returning from a trip. Fortunately, it is possible to retrieve and transfer this balance to your bank account.

How much does it cost to withdraw money from forex card? ›

Cash Advance/Cash@POS transactions fee: 0.5% of transaction amount. It is a facility through which ICICI Bank Forex Prepaid Cardholders can withdraw cash by swiping their Card at merchant outlets.

Can I transfer money from forex card to foreign bank account? ›

Is it possible to transfer funds from my Forex card to my foreign bank account? Using your Forex card to transfer funds to your bank account is possible. In order for the process to be successful, a few things need to be in place. This blog will explain how to transfer money from a Forex card to a foreign bank account.

Can forex card be blocked? ›

In case your card gets lost or stolen, all you have to do is call HDFC Bank PhoneBanking immediately and report the loss of your card to get it blocked. You can also login in to Prepaid NetBanking and hotlist your card which happens instantly.

Can I pay a credit card bill with a forex card? ›

Forex cards can be used to pay balances, but there are often issues when payments are attempted. If it is branded with a Visa, Mastercard, Discover, or American Express logo it should be able to be used.

Can money be returned to forex card? ›

You need to fill up a Refund Form and provide copies of your ICICI Bank Forex Prepaid Card and your passport. The funds will be returned to you immediately. Customers can also apply for refund Online by logging into iMobile and Internet Banking. The amount will be refunded directly to Bank account within 1 working day.

What are the disadvantages of a forex card? ›

Disadvantages of Forex Cards:
  • Fees: There can be fees for loading the card, inactivity, and withdrawals.
  • Not Accepted Everywhere: While widely accepted, some smaller stores, especially in remote areas, might only accept cash.
Jan 30, 2023

What is the forex card limit? ›

The limit for forex transactions in India varies based on the purpose, with different limits for travel, business, and more. You can usually carry up to USD 3,000 per visit.

Which bank forex card is best? ›

Best 10 Forex Cards in India
  1. Niyo Global Card by Equitas Bank. ...
  2. BookMyForex YES Bank Forex Card. ...
  3. Axis Bank Multi-Currency Forex Card. ...
  4. Standard Chartered Forex Card. ...
  5. HDFC Bank Multicurrency Platinum ForexPlus Chip Card. ...
  6. ICICI Bank Student Forex Prepaid Card. ...
  7. State Bank Multi-Currency Foreign Travel Card.

What are the disadvantages of foreign currency cards? ›

Disadvantages of Forex Card
  • Depending on your card, you may be charged additional costs such as activation fees, ATM usage abroad fees, inactivity fees, redeeming money fees, etc. ...
  • Cards may not even be accepted everywhere as a form of payment.
Aug 25, 2022

Is forex card accepted everywhere? ›

Our Forex Cards are equipped with PIN-and-chip technology, making them more secure than carrying cash. In case of theft or loss, you can easily block your cards and order a replacement. Our travel cards are widely accepted at ATMs, point-of-sale (POS) terminals, and online merchants worldwide.

What is the limitation of forex trading? ›

Leverage is the biggest disadvantage of forex trading. The foreign exchange market allows much higher leverage than the equities market, which means a leveraged trader could get wiped out by small fluctuations in currency values.

What are the disadvantages of Thomas Cook's forex card? ›

The well-known travel agency, Thomas Cook, has a Multi Currency Prepaid Forex card to make spending when you are abroad easier. Since it is a Mastercard, you can use it wherever Mastercard is accepted, but the card does have some drawbacks, including limited geographic scope and high fees.

Top Articles
Latest Posts
Article information

Author: Ms. Lucile Johns

Last Updated:

Views: 6363

Rating: 4 / 5 (61 voted)

Reviews: 92% of readers found this page helpful

Author information

Name: Ms. Lucile Johns

Birthday: 1999-11-16

Address: Suite 237 56046 Walsh Coves, West Enid, VT 46557

Phone: +59115435987187

Job: Education Supervisor

Hobby: Genealogy, Stone skipping, Skydiving, Nordic skating, Couponing, Coloring, Gardening

Introduction: My name is Ms. Lucile Johns, I am a successful, friendly, friendly, homely, adventurous, handsome, delightful person who loves writing and wants to share my knowledge and understanding with you.