A Guide towards Higher Education.
Easy and Prompt Forex Services from all our branches From currency notes to Travellers Cheques and foreign travel cards to remittances, experience utmost convenience and service excellence when you choose HDFC Bank for your foreign exchange needs. HDFC Regalia Forex Plus Card is one of the best forex card in India. The name of this card is kept from famous HDFC Regalia Credit Card. USP of this card is No cross currency conversion charges, which is .
The amount is paid in Indian Rupees or your home country currency and is converted into Dollars or any equivalent foreign currency that you want to convert it into. The currency conversion is done on the day in which you top up your Card. You top up your SIM Card with the required amount and then use it. Following are the currencies that are included in prepaid Forex Cards: There are even more currencies that are included in Forex Cards by different Banks.
These are the common currencies that are included no matter which Bank you choose to get your Forex Card. Below are the Documents that you must carry for applying for prepaid Forex Cards: P lanning a leisure or business trip abroad and wondering how best you can carry funds? Of course there are international debit and credit cards or the conventional traveller's cheques but then, of late banks have also launched prepaid forex cards that are not just convenient but more cost effective too.
These cards are pre-loaded with funds and can be used across the globe at merchant outlets enabling the user access to money in the regional currency and are available in US dollar, euro and sterling denominated currencies. Armed with these you would be able to withdraw cash if needed in the currency of that country, check your balance or even go shopping across the globe and not worry about the cross currency charges that you would have otherwise incurred on an international credit card.
A key advantage of these cards is that exchange rate fluctuations may not affect you. This advantage steps in a regime where the rupee depreciates to the foreign currency.
For instance, suppose the rupee has been depreciating against the dollar. So while in one month, a dollar may cost Rs 44, in the next, it may cost Rs But whether the rupee depreciates or appreciates you would not be paying more. Of course, the difference of a rupee will count when you are making high value purchases such as electronics. The flipside, in a regime of appreciating rupee, this card will not prove profitable.
In case of an international credit card, you are billed at the rate of exchange prevailing on the date when you made the purchase on your card. However, in the case of a prepaid card, you would be spending at the rate as on the date you loaded your card, which would be much earlier than your journey date. Sachin Khandelwal, head credit cards , ICICI Bank, tells Moneycontrol, "Travellers cheques cannot be encashed after merchant hours and not all outlets accept travellers cheques.
In forex card, you need not to pay any service charge. ATM cash withdrawal fee is less in forex card. In addition to that, you can avoid currency conversion charges as cards are available in major currencies. It also allows you to use Top-up facility. It is best forex card available in the market as of now. Ease of getting card and low charges are plus points of this card. USP of this card is No cross currency conversion charges, which is very useful.
However, for simplicity you can load only one currency USD. Thomas Cook Borderless Multi Currency Prepaid card is marketed as one card supporting 8 different currencies. This card is globally accepted at It is forex card exclusively designed for the people traveling extensively. Feature and benefit detail of this card is given below. You need to apply to a specific bank for this card. You need to fill up an application form.
I had loaded my forex card with aed only.
Once this process is completed you will receive a card from the bank.