HDFC Bank Forex Card vs Axis Bank Forex Card: A Detailed Comparison

HDFC Bank Forex Card vs Axis Bank Forex Card
Home » International Money Transfer » HDFC Bank Forex Card vs Axis Bank Forex Card: A Detailed Comparison

HDFC Bank Forex Card vs Axis Bank Forex Card: Globalisation has increased the number of interconnections between people and countries. Today, travelling across different countries and time zones has become a common thing. In this era of interconnectedness, it makes sense to have a medium by which transactions across different foreign currencies could be done smoothly too. Here comes the role of Forex Cards

A Forex card is a prepaid travel card (or you can think of it as a traveller’s best friend) that can be loaded with a foreign currency of your choice. It can be used just like a credit or debit card to make transactions in a local currency abroad, and can also be used to withdraw local currency from an ATM.

This blog aims to delineate the benefits and features of HDFC Bank Forex Card vis-a-vis Axis Bank Forex Card and understand the suitability of one over the other for different scenarios.

HDFC Bank Forex Cards

HDFC Bank is known for its customer-centric approach. The bank provides a plethora of services and options to its customers, and this also applies to its Forex Card options. The bank offers different cards for different needs like business, travel, study, and pilgrimage. Not only that, but the bank also provides the facility to opt for different currencies such as US dollars, euros, sterling pounds, and Saudi riyals, among others. Based on your requirements, you can opt for the card that serves your requirements the best. All you have to do is visit the bank’s official website and enter your requirements post which the bank will suggest to you a list of cards and you can select the one you want. Some of the forex cards offered by HDFC Bank include:

  • Regalia ForexPlus Card
  • Multicurrency Platinum ForexPlus Chip Card
  • HDFC Bank ISIC Student ForexPlus Card

For students planning to study abroad, the most suitable Forex card provided by HDFC Bank is the ‘HDFC Bank ISIC Student ForexPlus Card’. Let’s look in detail at the benefits and different features of this card.

HDFC Bank ISIC Student ForexPlus Card

This card has been designed considering the interests and needs of students studying abroad. The card is a ‘dual card’, meaning that in addition to being a currency card, it also acts as a student card and is globally recognised. Let’s understand its features, fees, and charges in detail.

Features of HDFC Bank ISIC Student ForexPlus Card

This ISIC Student ForexPlus Card comes with various features and benefits that are best summarised as follows:

  • Global recognition- As already mentioned, the card also acts as a student identity card and is recognised by universities, academic institutions, student unions, national governments, financial institutions, and ministries of education around the world.
  • Exclusive offers- A wide range of offers are provided on this card including offers on educational courses, public transport, magazine subscriptions, music streaming, cafes and eateries, etc.
  • Availability in 3 currencies- The card is a single currency foreign card and can be loaded with one of the three currencies – US dollars, euros, and pounds.
  • Usage and acceptability- The card is accepted for online purchases as well as at any VISA/MasterCard affiliated establishments around the world.

Also Read: Multi-Currency Forex Card: Charges, Benefits, Purpose, Top Banks

Fee & Charges of HDFC Bank ISIC Student ForexPlus Card

The following is a list of the fees and charges that apply to the HDFC Bank ISIC Student ForexPlus Card:

FeesAmount
Card issuance feeINR 300
Reload feeINR 75 + GST
Reissuance/replacement feeINR 100 + GST
ATM fee per withdrawalUSD 2.00/ GBP 1.00/ EUR 1.50
The daily limit for ATM cash withdrawalUSD 5000
EUR 4700
GBP 4000

Axis Bank Forex Card

Axis Bank is another reputed bank in India providing top-notch banking services to its customers. The different types of Forex Cards offered by Axis Bank are:

  • Axis Bank Multi-Currency Forex Card
  • Axis Bank World Traveller Forex Card
  • Axis Bank Diners Card
  • Axis Bank Single Currency Card

Features of Axis Bank Forex Cards

The unique features and benefits of each of these cards are listed below:

Card TypeFeatures
Axis Bank Multi-Currency Forex CardAllows you to carry up to 16 widely used currencies in one card.
Axis Bank World Traveller Forex CardGives you the option to load up to 8 currencies, and enjoy zero cross-currency charges.
Axis Bank Diners CardIdeal for US dollar transactions as it offers zero currency conversion charges, and also comes with unlimited airport lounge access.
Axis Bank Single Currency CardAvailable in 11 currencies and suitable for people whose travel abroad needs are limited to a single currency.

Fee & Charges of Axis Bank Forex Card

The bank charges some transaction fees and commissions based on the type of transaction. Check the details below:

FeesMulti-Currency Forex CardDiners CardWorld Traveller Forex CardSingle Currency Card
Initial Sale FeeINR 300 + GSTINR 150 + GSTINR 300 + GSTINR 150 + GST
Reload/Renewed Card FeeINR 100 + GSTINR 100 + GSTINR 100 + GSTINR 100 + GST
Add-on Card FeeINR 100 + GSTINR 100 + GSTINR 100 + GSTINR 100 + GST
Encashment ChargesINR 100 + GSTINR 100 + GSTINR 100 + GSTINR 100 + GST
Cross-Currency ChargeRanges from 0% to 3.50% depending on the type of card and currencyRanges from 0% to 3.50% depending on the type of card and currencyRanges from 0% to 3.50% depending on the type of card and currencyRanges from 0% to 3.50% depending on the type of card and currency

Note: The cross-currency charges are only applicable when you pay for a currency that is not loaded on your Forex card.

Also Read: Wire Transfers vs Forex Cards: A Comparative Guide

FAQs

Which one is better, the HDFC Bank Forex Card or the Axis Bank Forex Card?

The types of Forex cards provided by both banks are different from each other and you should choose one keeping in mind your needs.

Is an HDFC Bank ISIC Student ForexPlus Card good for students?

Yes, this card is specially designed for students and comes with various advantages. The card is not just a currency card but also a student identity card that is widely recognised by different organisations and educational institutions.

How many currency wallets are there in Axis Bank Multi-Currency Forex Card?

Axis Bank Multi-Currency Forex Card provides 16 currency wallets including the United States Dollar (USD), and Great Britain Pound (GBP), among others.

Today, Forex cards act as a safe and convenient medium for carrying out international transactions. They help in saving on transaction charges and exchange rate fluctuations and are widely used for different needs like travel, dining, shopping, hotels, etc.

A lot of students today are opting for Forex cards due to the many benefits that come with them. If you are a student planning to study abroad, choose a Forex Card that will best suit your requirements.

To know more about the forex cards of different banks, 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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