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Frequently Asked Questions (FAQs)

Top FAQs

  • What services are available on IndusForex?

    Customer can do online transaction for purchase of Indus MultiCurrency Forex Card and currency notes, reload of Indus Multicurrency Forex card and outward remittance. Additionally, customers traveling abroad can purchase a travel insurance policy while booking their Forex.

  • Who can transact on IndusForex?

    Any resident Indian with a valid PAN and Indian mobile number can transact on IndusForex

  • Do I have to be IndusInd Bank customer for doing transaction on IndusForex?

    No, even if you are not holding an account with IndusInd Bank, you can transact on IndusForex

  • For what purposes can I send money abroad as remittance?

    You can send money abroad from IndusForex for the following purposes: Overseas Education, Medical, Employment, Immigration, Visa Fees, Family Maintenance and GIFT.

  • For what purposes can I buy Forex Currency Notes on IndusForex?

    You can buy currency notes for Leisure Travel only.

  • For what purposes can I buy Indus Multicurrency Forex Card on IndusForex?

    You can buy Indus Multicurrency Forex card for following purposes: Leisure Travel, Overseas Education, Medical, Employment and Immigration

    Purpose Currency Notes Multicurrency Forex Card Purchase Multicurrency Forex Card Reload Outward Remittance
    Leisure Travel Yes Yes Yes No
    Employment No Yes Yes Yes
    Immigration No Yes Yes Yes
    Visa Fees No No No Yes
    Education No Yes Yes Yes
    Maintenance No No No Yes
    Gift No No No Yes
    Medical No Yes Yes Yes
  • 3 things to know before transacting on IndusForex

    1. You should have a valid PAN in your Name and a valid mobile number

    2. Your FEMA limit for the FY should not be breached beyond USD 2,50,000

    3. The transactionon IndusForex should be doneby the traveller/ remitter only

  • Can a close relative fund a Forex transaction on IndusForex?

    A close relative cannot fund a Forex transaction on IndusForex. Customer can walk into an IndusInd bank branch and carry out the same.

  • What are the steps to book an order on IndusForex?

    1. Build your order – select the service you want (Buy Forex Card, Reload Forex Card or Send Money Abroad). Add currency and amount in your order wallet.

    2. Enter personal details and travel/ beneficiary details – You can pre-fill your details basis IndusInd savings account relationship, past purchase on IndusForex or through Aadhaar.

    3. Select processing/ delivery mode and upload required documents – basis your order, you can select your mode of processing (processing at IndusInd Bank branch or online processing)

    4. Confirm your order and book your Forex rate by paying 5% of token amount.

    5. Complete your order - remaining amount needs to be paid by online NEFT/RTGS to IndusInd Bank account within 24 hours of order booking.

  • How long does it take for completion of transaction / delivery of Forex via IndusForex?

    ⦿ If 100% payment and documents upload are completed by 12:00 noon on T+0, then the order will be authorised on the same day. Customer can pick up the order from the branch on same or next day. In case of card courier, the card will be dispatched on the same day and customer shall receive it within 24 hours of dispatch.

    ⦿ If 100% payment and documents upload are completed after 12:00 noon T+0 till 12:00 noon on T+1, order will be authorised on T+1 and so forth.

    ⦿ If 100% payment or documents upload are not completed by 12:00 noon on T+2, the order stands cancelled and customer will get the refund of his payment after deducting relevant charges.

  • How long does it take for completion of card reload transaction on IndusForex?

    ⦿ If 100% payment and documents upload are completed by 12:00 noon on T+0, then the MultiCurrency Forex Card will be reloaded on same day under online processing.

    ⦿ If 100% payment and required documents upload are completed after 12:00 noon on T+0 till 12:00 noon on T+1, the card will be reloaded on T+1 and so forth.

    ⦿ In case document verification is required in person, the reload will happen within 24 hours of successful verification by the branch

    ⦿ If 100% payment or documents upload are not completed by 12:00 noon on T+2, the order stands cancelled and customer will get the refund of his payment after deducting relevant charges.

  • How long does it take for completion of outward remittance/ fund transfer abroad on IndusForex?

    ⦿ If 100% payment and documents upload are completed by 12:00 noon on T+0, then the SWIFT will be routed on the same day.

    ⦿ If 100% payment and documents upload are completed after 12:00 noon on T+0 till 12:00 noon on T+1, the SWIFT will be routed on T+1 and so forth.

    ⦿ In case document verification is required in person, the SWIFT will be routed within 24 hours of successful verification by the branch.

    ⦿ If 100% payment or documents upload are not completed by 12:00 noon on T+2, the order stands cancelled and customer will get the refund of his payment after deducting relevant charges.

  • How much does it cost to Order Forex or Send Money Abroad on IndusForex?

    ⦿ For a new purchase of Indus Multicurrency Forex card, INR 150 Of card issuance charge is applicable.

    ⦿ For a reload transaction, INR 100 charge is applicable.

    ⦿ For outward remittance, a processing charge of INR 750 is applicable on the transaction. Apart from this, Nostro charges are applicable on outward remittance basis the purpose of transaction. This charge can be either paid by the remitter along with order booking or can be shared with the beneficiary.

    ⦿ Courier Charges of INR 50 will be applicable for Courier Delivery of Forex Card

    ⦿ Foreign Currency Conversion Tax on INR equivalent will also be applicable on Forex orders.

  • Which currencies are supported for transaction on IndusForex?

    You can transact in the following currencies on IndusForex:

    S No. Currency Currency Code Currency Notes Forex Cards Wire Transfer/ Outward Remittance
    1 Australia Dollar AUD Yes Yes Yes
    2 Canada Dollar CAD Yes Yes Yes
    3 Euro EUR Yes Yes Yes
    4 Great Britain pound GBP Yes Yes Yes
    5 Saudi Riyal SAR Yes Yes Yes
    6 Singapore Dollar SGD Yes Yes Yes
    7 United Arab Emirates Dirham AED Yes Yes Yes
    8 US Dollar USD Yes Yes Yes
    9 Swiss Franc CHF No No Yes
    10 Danish Krone DKK No No Yes
    11 Hong Kong Dollar HKD No No Yes
    12 Norwegian Krone NOK No No Yes
    13 New Zealand Dollar NZD No No Yes
    14 Japanese Yen JPY No No Yes
    15 Swedish Kroner SEK No No Yes
    16 South African Rand ZAR No No Yes
  • How can the transaction be cancelled post order booking on IndusForex?

    An order on IndusForex stands cancelled by the customer or bank if any of the following terms are not met:

    ⦿ Customer cancels the order on customer care number: 1860 500 5004 / 022 44066666 before the order is authorised by the bank

    ⦿ If the Customer has not completed the payment & documents upload by 12:00 noon on T+2

    ⦿ If the customer has not visited the branch for document verification or Forex pick up till 12:00 noon on T+2

    ⦿ If the MultiCurrency Forex Card has been returned undelivered from customer’s delivery address

    ⦿ Name as per PAN Number does not match with the Customer Name on online application

    ⦿ Name as per Aadhaar does not match with the Customer Name on online application

    ⦿ FEMA limit for the customer is breached beyond INR 2,50,000

    ⦿ Negative match arising out of AML / OFAC checks

  • Will there be any charges for order cancellation?

    ⦿ Customer will be intimated through mail and SMS in case the order is cancelled. Any cancellation so carried out will be basis the Bank’s Card Rate (Available in http://www.indusind.com/footer/rates.html) and the applicable SWAP loss will be recovered from the amount being paid as part of this transaction completion.

    ⦿ Customer can contact the customer care number: 1860 500 5004 / 022 44066666 to ascertain the amount of SWAP loss post the Order is cancelled

  • How will I get refund on order cancellation?

    ⦿ Any refund arising out of cancellation of the transaction will be processed in 7 Working days

    ⦿ Any refund arising out of failure of transaction will be processed within 5 working days

HOW TO BOOK FOREX

  • What are the various transactions I can do through IndusForex?

    On IndusForex, you can:

    Buy Forex – Purchase of Currency Notes / Indus MultiCurrency Forex Card

    Reload Card – Reload your Indus MultiCurrency Forex Card

    Send Money Abroad – Through Telegraphic Transfer/ Wire transfer

  • What is the minimum & maximum Forex value I can book through IndusForex?

    ⦿ You can purchase minimum 500 $ or equivalent and maximum 25000 $ or equivalent for Forex card

    ⦿ You can book minimum 250 $ or equivalent and maximum 5000 $ or equivalent for currency notes

    ⦿ You can transfer minimum 1000 $ or equivalent and maximum 25000 $ or equivalent via wire transfer

  • What is the maximum amount of Forex purchase I can do in a year

    As per FEMA, you can do Forex transactions worth USD 2,50,000 or equivalent in a financial year.

  • Are the rates displayed while order building current live rates?

    IndusForex offers you best Forex rates online. The rates available while order building are basis the live market data feed. The final rate applicable at time of order confirmation will be taken as final. Order will be booked on live rates prevalent at order confirmation stage.

HOW TO FILL YOUR DETAILS

  • Who all can fill their details online with ‘existing customer’ option?

    All Individual Savings Account holder of IndusInd Bank or any customer who has completed a transaction through indusforex.indusind.com earlier can reorder on IndusForex basis past transaction.

  • How long before my travel date can I book Forex on IndusForex?

    You should keep a buffer of atleast 2 working days before your travel date to book Forex on IndusForex.

  • How can I get delivery of Forex cards from IndusForex?

    You can pick up your Forex card from IndusInd Bank Branch or get it delivered by courier at your preferred location.

  • How can I get delivery of currency notes on IndusForex?

    Currency notes are only available for pick up at IndusInd Bank branch.

  • Can I get Forex card delivered in city other than the address mentioned in personal details?

    Yes, you can change the delivery address of Forex while selecting your mode of delivery.

  • I cannot find a branch in my city for delivery, what can I do?

    You can collect your card from the nearest IndusInd Branch in a nearby city. You can also get it delivered by courier at your location.

  • In what cities is IndusForex service available in India?

    IndusForex is available in 200+ cities across India. For the complete list of cities where we are operating, click here.

ONLINE PROCESSING

  • What is online processing on IndusForex?

    Online processing is the fastest and most convenient way of order processing on IndusForex. You'll need to verify your Aadhaar no. and e-sign the order to get a complete online experience.
    Benefits to you:
    ⦿ No need to visit an IndusInd branch for document verification
    ⦿ Experience faster order completion - Get your order processed within 24 hours
    ⦿ No paperwork involved, it all happens online.
    How does it work?
    ⦿ Add your Aadhaar no.
    ⦿ You'll receive an OTP on your registered mobile number with Aadhaar
    ⦿ You e-sign your documents on the basis of the OTP validation
    ⦿ If everything is in order, we complete your transaction online, no questions asked!

  • What do I need for online processing of order?

    You need to have your valid Aadhaar number, your active mobile number linked to aadhaar number and an order value of less than $10,000/ $25,000 or equivalent for Forex/ wire transfer respectively.

  • Can non IndusInd bank customers avail online processing?

    Yes, if you fulfil the above criteria of online processing, any customer can avail the online processing mode.

  • I do not have Aadhaar number, can I still avail the online processing mode?

    No, you can avail the online processing mode only if you e-sign your order basis aadhaar number OTP validation.

DOCUMENT REQUIREMENT

  • What documents are required to be uploaded by IndusInd account holders for Forex orders?

    IndusInd bank account holders don’t need to upload any document for IndusForex transaction.

  • What documents are required to be uploaded by non-IndusInd account holders for Forex orders?

    Non IndusInd account holders need to provide PAN Card copy and Address proof for the address mentioned under Personal Details.

  • Can I submit documents in the branch rather than upload online?

    No, document upload online is mandatory for order processing of all orders on IndusForex. Though, you need to carry your original documents as uploaded to the branch for verification for branch pick up orders.

  • Will my Forex order go through even if I do not upload the documents?

    No, order processing will start only post upload of all mandatory documents on IndusForex

HOW TO MAKE PAYMENT

  • What are the various modes of Payment available on IndusForex?

    Following payment modes are available on IndusForex:

    ⦿ 100% Payment through IndusNet or IndusInd Debit Card for Savings Account holders of IndusInd Bank

    ⦿ 5% Payment through Payment Gateway for any customer including IndusInd Customers

  • Is it necessary that the purchaser / remitter of Forex and remitter of INR for the said transaction should be same?

    Yes, as per FEMA guideline, funds for Forex transactions should be paid by the account of remitter/ traveller only failing which the transaction is bound to be cancelled. A relative or friend cannot make payment on your behalf on IndusForex.

  • Can payment be made offline at the branch?

    No, payment needs to be made via online NEFT/ RTGS only to the said IndusInd Bank account.

  • Why do I need to pay 5% of total amount initially?

    You can book the Forex rate by paying 5% amount and make 95% payment later. Forex rates are subject to change, hence you can book your Forex rate by paying a small token amount.

  • Will my Forex order complete after 5% payment?

    No, only after payment of 95% amount order processing will start. If 95% payment is not received within 24 hrs of Forex booking, Forex order can be cancelled by the bank.

  • What do I need to do after making 5% payment?

    ⦿ Make 95% payment via online NEFT/ RTGS to IndusInd account no.: 00993564615325 IFSC code: INDB0000001 within 24 hours of making 5% payment.

    ⦿ Go to My Orders page on IndusForex, login with your mobile no. & PAN and go to order tracking

    ⦿ Upload the documents under my orders section (if not already done)

    ⦿ Update the successful NEFT/ RTGS transaction no.

    ⦿ Check your order status on ‘my order’ page. If it shows ‘Under Processing’, we’ll process and complete your order

  • In how much time do I need to make 95% payment to complete the order?

    95% payment needs to be completed within 24 hrs of making 5% payment online

  • What happens if I do not make the 95% payment?

    After 2 days of rate booking, your order will be cancelled by the bank if 95% payment transaction no. is not received by the bank

  • How do I know 95% payment has been accepted by IndusForex?

    Check your order stage under ‘order tracking’, it should show order ‘under processing’ or ‘order authorised’. Otherwise it will show pending tasks.

  • How do I get in touch with branch personnel for my order?

    You can check the branch details for your Forex order for branch contact information through Track your Order Page, or the same can be checked on the E-mail sent by the bank.

  • Who do I get in touch with if my order is being couriered

    You can get in touch for your order at 1860 500 5004 / 022 44066666 or email

TRAVEL INSURANCE

  • I want to know about travel insurance on Indusforex.com

    You can buy travel insurance on indusforex.com while purchasing forex for your international trip. It is a simple 'one click buy' to secure your travel in case of any exigencies.

  • For what purposes and products can I buy travel insurance?

    ⦿ You can buy travel insurance while buying forex card and currency notes on indusforex.com

    ⦿ You can take insurance for any travel purpose within the above product categories like leisure travel, business travel, education travel etc.

  • What is the process to buy travel insurance on indusforex.com?

    While buying forex from indusforex.com, you will be shown the insurance offer and policy details, along with premium to be paid for your trip. You can chose to buy the insurance policy within the same forex order. Once premium payment is confirmed at our end, the policy will be sent on your email within few minutes.

  • How can I pay for the travel insurance policy?

    You can pay the policy premium along with your forex order in the same bill with any of the given modes – debit card, credit card, internet banking. If you are paying only 5% of forex order initially, the insurance premium need to be paid in full along with 5% of forex value.

  • If I pay 5% of forex order and 95% later, when will my insurance policy be generated?

    The policy premium will be taken along with 5% forex amount and the policy will be generated right after this payment is successful.

  • For what countries can I buy travel insurance?

    You can buy travel insurance to any country of travel as filled in your forex order. The policy is eligible only for the country you are travelling to.

  • What details do I need to provide for travel insurance?

    You need not provide any extra detail for travel insurance on indusforex. Your travel details as provided in indusforex should be correct to ensure validity of the insurance policy.

  • Can I buy travel insurance for other travellers or family members going with me?

    For now, the travel insurance on indusforex can only be bought for the traveller who is buying the forex amount.

  • What is the policy coverage I can get in the insurance policy?

    The policy has a sum insured of 50,000 $ or 30,000 € as per the travel location. The general benefits in the policy are:

    ⦿ Hospitalization expenses including out-patient and in-patient care

    ⦿ Double sum insured in case of hospitalization due to accident

    ⦿ Treatment in home country upto 30 days after returning from trip

    ⦿ Daily allowance in case of hospitalization upto a maximum of 5 days

    ⦿ Payment of family member visiting the person insured

    ⦿ Upgrade to business class post discharge from hospital

    ⦿ Dental expenses and medical evacuation covered

    ⦿ Compensate for financial loss in case of trip cancellation & interruption (wholly or in part) and trip delay

    ⦿ Payment towards cost incurred due to loss of passport, loss/ delay in checked in baggage

    ⦿ Please note, Pre-existing diseases are not covered under this policy when purchasing from IndusForex

  • What points do I need to remember while buying insurance on indusforex?

    You need to be aware of and adhere to the following:

    ⦿ The insurance policy is applicable only for the travel period, travel country and the traveller as per the forex order.

    ⦿ The traveller should not have any pre-existing diseases as per the insurance norms

    ⦿ You have not been diagnosed/ hospitalized or under any treatment for any illness/ injury in the last 48 months

    ⦿ You have never filed claim under any insurance policy

  • Can I cancel the insurance policy after payment?

    You can cancel the insurance policy before the start of your travel date by contacting Religare customer care @ 1800 200 4488/

  • Where can I contact regarding insurance policy, premium & payment?

    In case of queries or support, contact Religare customer care @ 1800 200 4488/ or click here.