14 Best Forex Cards for Students Studying Abroad

The best Forex card for students should be the one which attracts low currency conversion fees, zero Forex markup, low transaction fees etc. There are some best Forex cards or prepaid travel cards for students that are offered by banks and financial institutions to make finances easily manageable in a foreign country. A Forex card or travel card refers to a prepaid card which is preloaded with multiple or single currency and can be used abroad for various purposes like online payment, ATM withdrawal etc.

Forex cards help in budget planning as preloading Forex Cards helps you stick to your budget and avoid overspending. With different options for the travel card, choosing the right forex card becomes very important while staying abroad. To know about some of the best forex cards for international student and their features, continue reading further.

Best Forex Cards for Students in 2024

Banks in India issue some of the best Forex cards for international students to use. These include HDFC ISIC student ForexPlus Card, ICICI Bank Student Sapphiro, YES Bank Forex Card, Kotak Bank Student Forex card, etc. They offer amazing cards equipped with all the necessary features and ensure smooth financial management for study abroad aspirants.

Choosing Student Forex Prepaid cards issued by Indian Banks is the best option for students. This builds more trust between students and the bank as you can directly apply with your familiar bank. They offer lower fees for loading the card with INR compared to international Forex cards.

Check out the list of best forex cards available for international students along with their unique benefits in the table shown below:

Forex Card	Major Features
YES Bank Forex Card	-Can be loaded in 15 multiple currencies -Issued at minimal fees with secure ways of payment
HDFC ISIC Student ForexPlus Card	-Can be loaded in 3 prominent currencies -Offers easy management via HDFC Bank NetBanking, Phone Banking
IDFC First Bank Forex Card	-Zero issuance and reloading fees -Offers benefits like airport lounge access and travel insurance
ICICI Bank Student Sapphiro Forex Card	-Can be loaded in 15 multiple currencies -3 ATM waiver fees every month
Kotak Mahindra Bank Student Forex Card	-Valid for up to 5 years -Protected against loss and theft
Axis Bank Multi-currency Forex Card for Students	-Can be loaded in 16 multiple currencies -Offers 100% digital services
IndusInd Bank Multi-Currency Forex Card	-Spending and balance checking facility available -Can be loaded in 14 multiple currencies
SBI Forex Card	-Chip-based EVM-compliant card -Can be loaded in 15 multiple currencies

Also Read: Have you compared the charges on Forex cards by different banks? Read this blog and check out all about the Zero Forex Markup Card.

1. YES Bank Forex Card

YES Bank offers one of the most efficient forex cards for international students with multiple features and benefits. They are issued at minimal fees offering secure and convenient ways of payments. YES Bank forex cards for students can be loaded with 15 multiple currencies.

• The card is insured up to INR 3,00,000 in case of theft or loss.
• Provides 24/7 customer support services with cash management assistance.
• You can visit the nearest branch or apply online for a YES Bank Forex card for students.
• Submit your passport, visa or flight tickets, and PAN Card to avail of this card.

2. HDFC ISIC Student ForexPlus Card

HDFC Forex cards are the best Forex card for students in 2024. One of the most popularly chosen is the HDFC ISIC Forex Card for international students. They can be loaded in 3 prominent currencies- USD, GBP, and EUR. This card offers wide currency acceptance, lost card protection, and the ability to hold multiple currencies. However, there might be annual and transaction fees involved.

• It is not just a forex card. It also functions as an ISIC student identity card, recognized worldwide by universities, institutions, and governments. This can lead to special student discounts on various services and activities.
• Reloading the card is easy with multiple options like HDFC Bank NetBanking, Phone Banking, or even directly at HDFC Bank branches.
• HDFC ForexPlus Card offers security features like online blocking in case of loss and the option for a backup card during the application.

3. IDFC First Bank Forex Card

IDFC First Bank offers a student-friendly Forex card packed with features to empower you on your academic journey. It is one of the best and the cheapest forex for students. This student Forex Card lets you to load and spend money in multiple currencies, eliminating the need to exchange cash beforehand.

• It offers zero issuance and reloading fees which is a cost-effective option.
• They offer travel insurance, airport lounge access, emergency cash assistance and other valuable benefits for students.
• You can reload your card, track expenses, and manage your account conveniently through the bank’s online platform or mobile app with IDFC First Bank Forex Card.

Also Read: RBL Bank is a leading private bank in India and it has a good track record in forex services. Check out this blog on RBL Bank Forex Cards for Students.

4. ICICI Bank Student Sapphiro Forex Card

Another best forex cards for students is offered by ICICI Bank at competitive ICICI currency exchange rates. The cards be loaded with up to 15 currencies and instant reloading via the bank’s iMobile App. You get secure and contactless transactions with comprehensive travel insurance coverage.

• Avail benefits like free airport lounge access, uber vouchers, ISIC membership, and free international SIM Card.
• Students can get 3 ATM waiver fees every month.
• ICICI Bank Forex Prepaid Card offers lost counterfeit card liability up to INR 5,00,000.

5. Kotak Mahindra Bank Student Forex Card

Kotak Mahindra Bank Forex card is also one of the cheapest Forex cards. They offer unmatched security with an embedded chip and convenience with withdrawals at many ATMs abroad. You can load up to 13 multiple currencies in one single card. You can avail of the Kotak Bank Forex card at all Kotak Mahindra Bank branches by simply filling out the application form.

• The card is valid for up to 3 to 5 years. You don’t need to issue it again for your bachelor’s, master’s, or any certification course abroad.
• The card can be issued for as little as INR 250 and reloaded for INR 75 (Exclusive of GST).
• The Forex card is protected against loss and theft.
• Other than Iran, North Korea, Cuba, Syria, Crimea region, Afghanistan, Venezuela, India, Nepal, Bhutan, and Myanmar (Burma), you can use a Kotak Forex card anywhere in the World.

6. Axis Bank Multi-Currency Forex Card

Axis Bank also offers the best Forex cards for students which allows contactless payments and offers competitive exchange rates. The MCTC (Multi-currency Travel Card) Forex Card. They provide better exchange rates and withdrawal fees than debit/ credit cards. The bank offers the lowest rates on Southeast Asian currencies.

• You can load/ reload the Axis Bank Forex card for students up to 16 multiple currencies in one card.
• It offers easy bookings for dining, tours, and sightseeing.
• You can easily track your balance, and lock and unlock the card at your convenience with their 100% digital services.

7. IndusInd Bank Multi-currency Forex Card

IndusInd Bank Forex cards also make their spot in the list of best Forex cards for international students. They offer easy, secure, and cashless ways to carry foreign currency abroad. The card can be loaded in 14 multiple currencies with minimal transaction charges. You can avail of easy ATM withdrawals.

Also Read: Want to plan your budget wisely against exchange rate fluctuations? Learn all about locking exchange rates with currency hedging for students

8. SBI Forex Card

State Bank of India offers both types of Forex cards for students- the SBI Single Currency Forex Card and the SBI Multicurrency Forex Card, also called the Foreign Travel Card. It is a chip-based EVM-compliant card which is safe and secure to use at POS terminals and ATMs abroad.

• The card can be loaded in 15 popular currencies.
• It can be used worldwide except in India, Nepal, and Bhutan.
• Provide proof of travel like a visa, flight ticket, or admission letter to a foreign university or institution to avail SBI forex card.

Best Online Forex Cards for International Students

Other than banks, many online forex service platforms also offer forex cards for international students as well as any individual travelling abroad. These include NiyoGlobal, BookMyForex, Thomas Cook, etc. You can choose to opt for these forex cards too for your study abroad plans. Check out the features and benefits of choosing them other than bank-issued Forex cards.

9. Thomas Cook Forex Card

Another on the list of best Forex cards is the Thomas Cook Forex card for students. They are easy to apply on their official website and you get it delivered to your doorstep. The card can be loaded in 9 popular international currencies.

• You get the benefit of free international calling for 1 month in the USA, Canada, UK, Germany, France, and Australia.
• It offers free emergency cash assistance up to USD 500 card balance.
• You can avail of free ATM withdrawals with a seamless fee payment facility.

10. NiyoGlobal

Niyo Global Forex Card for students eliminates hidden fees by offering zero forex markup on all international transactions. This means you get the exact exchange rate, maximising your savings. You can enjoy complimentary access to airport lounges at select international airports in India, adding a touch of luxury to your travels.

• You can load your card in Indian Rupees (INR) and use it in over 150 countries and with over 130 currencies, making it a perfect choice for students with diverse travel plans.
• Earn 1% cashback on all your international transactions as “Global Coins,” adding to your financial rewards.
• You get your Niyo Global Card delivered within 2-3 days.
• They assist you whenever you need it with their 24/7 in-app chat support.

11. Wise Borderless Card

Wise Borderless Card was formerly called as TransferWise. This multicurrency card lets you hold and spend over 50 currencies, perfect for students exploring different countries. You can avail of the Wise Borderless Card at competitive foreign exchange rates.

• You can enjoy the convenience of making online and in-store purchases seamlessly using your local currency.
• This card allows you to make free ATM withdrawals abroad up to a certain amount, saving you on transaction fees.

12. BookMyForex Card

BookMyForex offers true zero markup rates i.e. you exchange currency at the exact interbank rate with no hidden charges. Students can top up this Forex card instantly and digitally through the BookMyForex App, making it perfect for busy students. You can use your card for purchases and ATM withdrawals worldwide.

• The best feature is that you get same-day doorstep delivery, easy unloads of leftover currency and seamless app-based management.
• The card offers a free international SIM card and exclusive cashback rewards when you purchase the card.
• There are no issuance, annual, inactivity, maintenance, reload, or unload charges, enabling savings.

13. Capital One Quicksilver Cash Rewards Student Card

While it is not strictly a Forex card, it offers valuable rewards on everyday purchases and travel expenses. This makes it an ideal choice for budget-conscious students travelling abroad. You can purchase this card in foreign countries too.

14. Paysafe Youth Mastercard

This card is easily reloadable online and offers decent exchange rates which make it a convenient option for managing various expenses abroad. This card is a Mastercard and is accepted at almost all major POS and ATMs.

Best Forex Cards for Indian Students Abroad

Some of the popular options include the Niyo Global Card, HDFC Bank Forex Card, ICICI Bank Student Forex Card, and the Axis Bank Multi-currency Forex Card. Indian students who are travelling abroad for higher studies in popular countries like the USA, UK, Canada, Germany, Ireland, etc. must carry them. They provide students with convenient, secure, and cost-effective ways to manage their finances while studying abroad.

Let’s explore which Forex card is best for you if you are travelling to the following countries-

Best Forex Cards for Students in the UK

Some of the best Forex cards for students in the UK are- 

• Niyo Global Card: These have Zero forex markup fees and support multiple currencies. The best part is that you get multiple cashback offers on transactions.
• Thomas Cook Forex Card: They provide free emergency cash assistance and international calling benefits.
• HDFC Bank ForexPlus Card: You can avail competitive exchange rates and built-in insurance coverage.

Best Forex Card for Indian students in Australia

Some of the best Forex cards to use in Australia are-

• Wise Borderless Card: It can hold over 50 currencies. You get the most competitive exchange rates, and free ATM withdrawals up to a limit with WIse Borderless cards in Australia.
• Niyo Global Card: Besides the zero forex markup and multiple currencies in one card, they offer 1% cashback on transactions.
• ICICI Bank Travel Card: ICICI Forex card offers special student discounts and global acceptance.

Best Forex Cards for Indians in Germany

Some of the best Forex cards to use in Germany are-

• HDFC ISIC Student ForexPlus Card: These are designed for students and offer easy management and competitive rates.
• SBI Multi-Currency Forex Card: They support multiple currencies and provide online account management.
• Axis Bank Multi-Currency Forex Card: Axis Bank Forex cards in Germany offer locked-in exchange rates and easy online reloading.

Best Forex Cards for International Students in Ireland

Some of the best Forex cards for students in Ireland are-

• Niyo Global Card: Offers zero markup on forex transactions and supports multiple currencies.
• IndusInd Bank Multi-Currency Forex Card: You can be assured of secure transactions with an embedded chip and support for various currencies.
• ICICI Bank Student Sapphiro Forex Card: These are designed for students with competitive rates and easy management.

Best Forex Cards for International Students in the USA

Some of the best Forex cards to use in the USA are-

• Wise Borderless Card: Allows holding multiple currencies, competitive rates, and free ATM withdrawals.
• HDFC Bank Forex Card: They support 22 currencies and serve as valid ID proof.
• Standard Chartered Forex Card: One of the best Forex cards for students in the USA, Standard Chartered Forex cards offer zero margin rates and emergency cash assistance.

How to Choose the Best Forex Card for International Students?

For international students, choosing the right Forex card will include various important considerations to ensure that the selected card meets every financial requirement while studying abroad. Check out the following factors to consider while choosing a Forex card:

1. Opt for a Forex card that supports multiple currencies.
2. Look for cards with low or no loading fees.
3. Check if the card charges the lowest or no inactivity fees.
4. Choose a card that offers favourable exchange rates, as this can save you money in the long run.
5. Look for Forex cards that offer discounts or cashback on student-related expenses like travel, dining, or shopping.
6. Consider cards that offer emergency cash assistance, replacement card services, or travel insurance tailored for students.
7. Compare your choice of Forex Cards with online comparison tools and read user reviews.

Benefits of Forex Travel Card for Students

Forex cards, also known as travel cards, are preloaded cards that can be used to make transactions in foreign currencies. Forex travel cards have a lot of advantages for students studying abroad. Carrying a large amount of cash is difficult while travelling to a foreign country. The Forex card allows you to make payments online and at POS without the hassle of being involved in currency exchange, transaction fees etc. Check some of the major benefits of a Forex card below:

• Forex cards are widely accepted at ATMs, retail outlets, and online stores globally. Students can easily reload the card online as needed and spend it easily.
• Forex cards allow users to lock in exchange rates at the time of loading the card which protects you against currency fluctuations.
• Travel cards generally have lower transaction fees compared to international credit/debit cards.
• Most forex cards come with chip and PIN technology which add an extra layer of security and can protect your card from skimming.
• In case of loss or theft, the card can be blocked and a replacement can be arranged quickly.
• You can preload a Forex card with a specific amount which will help you manage the budget better and avoid overspending.
• Most forex cards support multiple currencies which makes them ideal for students travelling to different countries during their studies.
• Students don’t need to carry cash or visit currency exchange counters frequently as Forex cards are accepted in most countries which reduces the hassle of currency conversion.

Difference Between Forex Card and Debit Card

The main difference between a Forex card and a debit card lies in their intended use and currency handling. A Forex card is designed for international travel and it is pre-loaded with foreign currencies. A Forex card or travel card offers better exchange rates and lower transaction fees for overseas transactions. On the other hand, a debit card is linked to a domestic bank account and incurs higher fees and less favourable exchange rates when used abroad. Check some of the major differences between a Forex card and a debit card below:

Forex Travel Card	Debit Card
A Forex card is a prepaid card loaded with foreign currency and not linked to a bank account	This card provides a locked-in rate when loaded that helps to avoid Dynamic Currency Conversion
This card provides locked-in rate when loaded that helps to avoid Dynamic Currency Conversion	Dynamic rate of currency exchange is applied at the time of transaction
Low transaction fees when used internationally	Need to pay transaction fees, conversion charges, withdrawal charges etc.
You will get the balance paid out if the card is lost or returned	Penalty charges may be applied if the card is lost and a request for the duplicate card is placed

How to Apply for a Prepaid Forex Card?

Obtaining a student Forex card is easy. You need to research Forex cards offered by various banks. Some of the best Forex cards for international students have already been mentioned. Compare and choose which one fits your needs for studies abroad. Follow the given steps to apply-

• Visit the nearest bank branch and speak with the bank representative to help you with Forex card features, charges, and the application process. You can also head to their online website for student forex cards.
• Gather necessary documents like a copy of your passport, proof of enrollment in a university abroad, visa, and other related documents.
• Submit your application form along with the required documents.
• Wait for the bank to process your request. The processing time may differ depending on the bank you choose.
• Activate the Forex card once you receive it by following the instructions given by the bank.

This was all about the best Forex cards or travel cards for students planning to study abroad. Student forex cards can be a game-changer for managing your finances while studying abroad. By choosing the best Forex card for you and following these steps, you can find the perfect card to navigate your academic journey with confidence.

To know more about education loans, 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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