Forex or Foreign Exchange cards are prepaid cards that can be used to make payments when you are travelling abroad. With Forex cards, you can easily shop and make payments at the hotels in the local currency and also, use it to withdraw foreign currency from ATMs at any location. You can check balance, reload them easily when necessary.
Forex cards can be multi-currency or single currency. With a single currency Forex card, you get foreign currency only in one currency. However, a multi currency Forex card comes loaded with multiple currencies. This means you can withdraw funds in any currency while travelling abroad. This is especially beneficial for people who are travelling to multiple locations. You can use a single card at different locations to withdraw funds.
How to Get a Forex Card?
To get a Forex card, you need to submit Form A2 in your bank along with other documents as mentioned under the Foreign Exchange Management Act (FEMA). The documents include:
After you submit the required documents and once your funds get cleared, your card is activated. IndusInd bank provides you a with a one-stop option for all your Forex needs. Now you do not need to go to the bank to buy Forex card or reload it. IndusInd bank has an end to end online process with which you can easily buy Forex card online or send foreign currency abroad.
Why Buy Forex Card?
The majority of people, who travel abroad, prefer Forex card over cash. Forex card comes with a number of benefits which include
Send a wire transfer to loved ones at best forex rates online!