IndusInd Bank Forex Card: Features, Application, Charges & More

IndusInd Bank Forex Card

Forex Card has become a very important tool for international students and people who frequently travel abroad. There are various types of Forex Cards available today like Travel Cards, Multi-Currency Cards, etc. The type of Forex Card suitable for you depends on your needs and while buying one people usually explore different banks providing Forex Cards. One such famous bank is IndusInd Bank. IndusInd Bank Forex Card provides the option to load 14 currencies in one single card. 

Let’s explore the benefits, important features, eligibility, charges, and some other details of the IndusInd Bank Forex Card.

Features of IndusInd Bank Forex Card

The IndusInd Bank Forex Card comes with many features and to apply for it you don’t need to have a bank account with IndusInd Bank. With the IndusInd Forex card, individuals can buy and sell foreign currency cash and send money abroad.  Below are some of the important features of this Forex Card:

  • The card comes with a superior 3D secure chip and PIN technology.
  • There is an option to load and reload your card multiple times.
  • The bank offers hassle-free card replacement.
  • The card is accepted worldwide at all VISA-accepting merchant outlets and ATMs.
  • You can load the card with major currencies such as the UAE Dirham, Canadian Dollar, US Dollar, Euro, Great Britain Pound, Saudi Riyal, Australian Dollar, and Singapore Dollar.
  • The Forex Card comes at zero currency conversion charges.

Note: An international student travelling abroad for higher education should consider these cheapest forex cards.

Eligibility Criteria

Only the applicants who fulfil the eligibility criteria can apply for a forex card. Listed below are the eligibility requirements for applicants of IndusInd Bank Forex Card. 

  • Applicant must be a bonafide citizen of India planning to travel abroad.
  • Sponsors or parents of students travelling abroad for higher studies can also apply for the card. The card will be issued in the student’s name and will be reloaded up to the allowed ceiling, recommended from time to time.
  • It can be issued to both the customers who maintain an account with the IndusInd Bank, as well as those who don’t.

To understand the differences between SBI Forex Card and ICICI Bank Forex Card you must check out this blog: SBI Forex Card Vs. ICICI Forex Card: Understanding The Differences

To procure an IndusInd Bank Forex Card, individuals must submit documents for banks to verify their identity, address, and other compliance details. Below is the list of documents required to get the IndusInd Bank Forex Card:

  • Forex Card Application Form
  • Passport Copy
  • VISA
  • PAN Card
  • Passport size photographs
  • Proof of address in case the address differs from the one mentioned on the passport

How To Apply For IndusInd Bank Forex Card?

It is very easy to apply for an IndusInd Bank Forex Card and below are the steps for the same:

  • You need to submit an Application-cum-Declaration Form along with a copy of your passport, tickets, and Visa.
  • To activate your card you need to remit an amount in Indian Rupees to the bank which is equivalent to the amount you want in foreign currency.
  • Once the transaction is done your card will be activated.
  • The bank will charge you a minimal fee for issuing Forex cards.

Steps To Apply For the IndusInd Bank Forex Card Online

You can also apply for the card online by logging into the official website of IndusInd Bank. When you log in to the website you will see a page like this:

  • You are required to fill in the currency and the amount you want to load into your card.
  • After this, you need to click on the ‘Proceed’ button and then you’ll be asked to provide your personal information and the page will look like this: 
  • If you are not a customer of IndusInd Bank then you’ll be asked to provide your Aadhaar Card details and contact number.
  • Once you have filled in your contact number, you will be asked to fill in your other personal details in the following format:
  • Make sure you fill in all the information correctly and once you have filled in the details, you can select how you want to get your card delivered and finally confirm your order.
  • The above process is simple and hassle-free and you can also reach out to the bank’s customer service if you have any queries related to the process.

Fee & Charges of IndusInd Bank Forex Card

Before you apply for this bank’s Forex Card you must understand all the fees related to this card. The table below has the list of charges that you need to know:

CategoryFees
Issuance FeeINR 300/-
Reload Fee INR 100/-
Re-issuance of Card FeeINR 100/-
Cross Currency3.50% mark up
ATM Cash Withdrawl FeeUSD 2.00, Euro 2.00, GBP 1.00, AUD 2.00, SGD 2.70, CHF 2.50, HKD 15.00, CAD 2.50, JPY 250.00, ZAR 80.00, AED 7.25, SAR 7.25

If you want to understand the differences between wire transfers and forex cards then you must read this blog: Wire Transfers Vs. Forex Cards: A Comparative Guide

FAQs

Do I need to have an IndusInd Bank account to purchase the Forex Card?

No, you don’t need to have an account with IndusInd Bank to purchase the Forex Card. You can simply log in to IndusInd Bank’s official website and apply for the card there.

How many currencies can be loaded on the IndusInd Bank’s Forex Card?

You can load 14 currencies on the IndusInd Bank’s Forex Card.

How can I reload my IndusInd Bank Forex Card?

You can reload your IndusInd Bank Forex Card in the following ways:
-You can reload it online by logging into IndusInd Bank’s official website.
-You can also reload it through IndusInd Bank’s Mobile Application or by visiting IndusInd Bank’s branches.

What documents are required for Forex card in IndusInd bank?

To apply for a Forex card, you need to submit an Application-cum-Declaration form along with a copy of your passport, tickets and visa. Other required documents are a PAN card, passport-size photographs, and proof of address in case the address differs from the one mentioned on the passport.

What is the benefit of IndusInd Bank’s multi-currency forex card?

IndusInd Multicurrency Forex Card is a safe, easy, and cashless way to carry foreign currency when you travel abroad. They are accepted worldwide and can be loaded in 14 currencies and protect you from foreign exchange fluctuations. They are safer than cash and easier to use than traveller’s cheques.

Also, Explore more options of Forex Cards- 

HDFC Bank Forex Cards IDFC Bank Forex Cards
Bank of India Forex Cards Bank of Baroda Forex Cards
Kotak Mahindra Bank Forex Cards American Express Forex Cards

This was all about IndusInd Bank Forex Cards which are safe and easy to carry. They can be loaded in 14 currencies and a widely accepted worldwide. You must be an Indian citizen to apply for an IndusInd Forex Card and submit the list of documents as discussed above.

To know more about Forex Cards, the best 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. 

Recommended Reads:
YES Bank Forex Card: Benefits, Documents, Eligibility & More
How To Reload HDFC Forex Card? Check Easy Steps
SBI Forex Card: Rate, Issuing Branches, Benefits, Withdrawl

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