The Bank of Baroda Forex card is a must-have resource for students who are planning to study abroad. It comes with a lot of benefits like a cash withdrawal facility, multiple currencies in one card etc. It eliminates the hassle of carrying cash and makes everyday transactions easier.
Bank of Baroda is one of the leading public sector banks in India with an impressive track record in forex services. The Bank of Baroda offers a wide range of forex cards with dedicated services for international students. In this blog, we will discuss the major features and benefits of Bank of Baroda Forex Cards.
Table of contents
What is the Bank of Baroda Forex Card?
The Bank of Baroda Forex card is a prepaid International currency card. It has been designed to make your study abroad journey easy and convenient. The card is completely safe, secure and convenient to carry. The ‘Baroda TravelEasy Multi-Currency Forex Card’ saves you time which is wasted on money exchange services or encashing your traveller’s cheque. Check out some of the features of the same-
- With over 150+ authorized foreign exchange branches, you’ll have easy access to cash whenever you need it.
- You can spend like a local with your choice of 3 popular currencies loaded onto your card: GBP, USD, and EUR.
- Your card activates immediately, so you can start spending the moment you land.
- The card’s 3-year validity ensures it’s there for you on multiple trips, eliminating the need for frequent replacements.
- One can enjoy the convenience of managing your card through a mobile app, and keeping track of your balance and transactions on the go.
- Get notified about special currency exchange offers happening right around you, maximizing your savings potential.
- You can control your card from anywhere. You can easily disable or enable it if needed, providing peace of mind in case of loss or theft.
- The card allows for multiple reloads, ensuring you have enough spending power throughout your travels.
Also Read: Looking for a Forex Card from a private bank? Check out this blog on Yes Bank Forex Card
Benefits of Bank of Baroda Forex Card
Bank of Baroda has a network of over 150 authorised foreign exchange branches. The Bank of Baroda Forex Card comes with 3 currencies i.e. GBP, USD and EUR. The card can be activated immediately after buying and the card will be valid for 3 years. The fee charged for the use of a Forex card is very low and easily affordable for international students. Check some of the major benefits of the Forex Card below.
- You can make purchases at over 25 million merchant outlets worldwide displaying the VISA sign.
- The bank provides immediate activation service for the Forex Card.
- This Forex Card will be valid for 3 years from the date of the activation after which you can renew it.
- You can operate the card using the mobile app and can activate or deactivate the card from anywhere.
- Money can be reloaded in the card multiple times as per your requirement.
- You can purchase a Bank of Baroda Forex Card even if you are not a customer/account holder of the bank.
- The card works on a real-time basis i.e. you can use the card immediately after reload.
Also Read: Facing issues while choosing between debit and Forex cards? Check out this blog on Forex Cards Vs International Debit Card
Forex Card Transaction Fee
Before purchasing the Bank of Baroda Forex Card, always check the charges related to different transactions. Usually, the bank charges some fee for debit transactions, currency exchange charges and cash withdrawals. Check the details below:
| Category | Transaction Fee (INR) |
| Issuance Fee | 150 |
| Reload Fee | 55 |
| Standby Card | 150 |
| Revalidation Charges | 400-500 |
| ATM Withdrawal | 0.9% of the total transaction amount |
| Balance Enquiry | 30-60 |
| Replacement Charges | 400-500 |
| Charge Back Fee | 100-200 |
| Refund Fee Per Currency | 250 |
| Deduction on Expired Card | 400-500 |
| Inactivity Fee (if the card has not been used for more than 180 days) | 400-500 |
| New ATM Pin | 100-150 |
| Cross Currency Transaction | 3% of Transaction Value |
Note: The amount shown above may fluctuate based on the international currency exchange rate. Always check the exact amount before performing the transactions.
How to Buy a Bank of Baroda Forex Card?
The Bank of Baroda Forex Card can be purchased directly by visiting the branch. Any person holding a Bank of Baroda account as well as persons not holding an account with the bank can apply for a multi-currency forex card. You just need to visit an identified branch of Bank of Baroda which provides forex services and apply.
- Visit the branch of the bank
- Get a Forex Card application form and fill in the details carefully
- Submit the application form on the counter
- Wait for the verification of the documents and other details
- The card will be provided to you after verification and you can use it immediately after loading the currency.
BOB Forex Card Transaction Limits
There are certain limits on the transactions done with the forex cards. Check properly the minimum and maximum limits allowed on your card. Check the details of Bank of Baroda Multi-Currency Forex Card transaction limit:
| Currency | Minimum Reload Value | Maximum Reload Value |
| USD | INR 8,300 or USD 100 | As directed by RBI based on the purpose of the visit |
| GBP | INR 10,300 or GBP 100 | As directed by RBI based on the purpose of the visit |
| EUR | INR 9,000 or EUR 100 | As directed by RBI based on the purpose of the visit |
Note: The amount shown above may fluctuate based on the international currency exchange rate. Always check the exact amount before performing the transactions.
FAQs
You need to choose the ‘Credit’ option while withdrawing cash through Forex Card. In case the ‘Credit’ option is not available then you have to select the ‘Checking’ option.
You can use the Bank of Baroda Multi-Currency Forex Card across all shopping centres, hotel bills, car rentals etc. However, always look for a Visa POS for using the Forex Card.
You will be charged a transaction fee for using ATMs for cash withdrawals and balance inquiries.
This card can be re-loaded multiple times before the expiry date. However, the transaction limit is subject to card load/reload amount limitation as per RBI and FEMA guidelines).
The Bank of Baroda Multicurrency Forex Card lets you pre-load and spend in USD, EUR, or GBP while travelling abroad. This Forex Card will be valid for 3 years from the date of the activation after which you can renew it.
Bank of Baroda multi-currency forex card is one of the best financial travel partners which will help you to manage your expenses efficiently and quickly. Always read the terms and conditions and the charges on the transaction and then apply for the card.
To know more about forex cards, the best international bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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