Bank of Baroda Forex Card: Benefits, Uses, Charges

Bank of Baroda Forex Card

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. 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. 

Why 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 major benefits of the Baroda TravelEasy Forex Card.

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:

CategoryTransaction Fee (INR)
Issuance Fee150
Reload Fee55
Standby Card150
Revalidation Charges400-500
ATM Withdrawal0.9% of the total transaction amount
Balance Enquiry30-60
Replacement Charges400-500
Charge Back Fee100-200
Refund Fee Per Currency250
Deduction on Expired Card 400-500
Inactivity Fee (if the card has not been used for more than 180 days)400-500
New ATM Pin100-150
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:

CurrencyMinimum Reload ValueMaximum Reload Value
USDINR 8,300 or USD 100As directed by RBI based on the purpose of the visit 
GBPINR 10,300 or GBP 100As directed by RBI based on the purpose of the visit 
EURINR 9,000 or EUR 100As 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

Which option should I choose when withdrawing cash from the Bank of Baroda Forex Card?

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.

How Baroda Multi-Currency Forex Card can be used for POS merchant transactions?

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. 

What are the charges for using a VISA ATM?

You will be charged a transaction fee for using ATMs for cash withdrawals and balance inquiries.

How many times I can load my Bank of Baroda Multi-Currency Forex Card?

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).

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 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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About Shekhar Suman

Shekhar is a versatile writer with a passion for sharing knowledge and creativity. With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.

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