Managing finances in a foreign country can feel overwhelming—especially with fluctuating exchange rates and high transaction fees. This is where a multi currency forex card steps in as a game-changer, offering convenience, security, and cost savings option for Indians.
In this blog, we’ll explore what is multi currency forex card, why a it is a must-have for indian students and individuals, how it works, its benefits, and the best options available in India. Let’s dive in and discover how this card can make your international journey smoother and more affordable.
Table of contents
- What Is a Multi Currency Forex Card?
- Why You Need a Multi Currency Forex Card
- How Does a Multi Currency Forex Card Work?
- Benefits of a Multi Currency Forex Card
- Features of Multi Currency Forex Cards
- Top Multi Currency Forex Cards for Indian in 2025
- How to Choose the Best Multi Currency Forex Card
- How to Apply for Multi-Currency Forex Card
- Documents Required for Multi-Currency Forex Card
- Tips to Maximize Your Multi Currency Forex Card Benefits
- FAQs on Multi Currency Forex Card
What Is a Multi Currency Forex Card?
A multi currency forex card is a prepaid travel card designed to hold multiple foreign currencies at once. Think of it as a digital wallet that you load with currencies like USD, EUR, GBP, or AUD before heading abroad. Indian students can use it to shop, withdraw cash, or pay university fees without the hassle of carrying cash or facing hefty conversion fees.
Unlike single currency forex cards limited to one currency, a multi currency forex card offers flexibility for students traveling to multiple countries or studying in destinations with different currencies. These cards are issued by top banks like HDFC, ICICI, Axis, Yes Bank, IndusInd Bank, and others. Platforms like BookMyForex, Thomas Cook, and similar services also offer these cards with locked-in exchange rates, ensuring that your money’s value remains stable.
For example, if you’re studying in the USA but plan a weekend trip to Canada, you can load USD and CAD onto the same card. This eliminates the need to exchange money at unfavorable rates or carry multiple cards, making it a practical choice for students.
Also Read: Forex Card vs Credit Card
Why You Need a Multi Currency Forex Card
Studying abroad comes with its share of challenges, and managing money shouldn’t add to the stress. Indian students often face high fees when using debit or credit cards overseas, with currency exchange fees ranging from 2-5%. A multi currency forex card solves this problem by offering a cost-effective and secure alternative.
Multi currency forex cards allow you to preload funds in the local currency of your study destination, avoiding the pitfalls of fluctuating exchange rates. Plus, they’re widely accepted at ATMs, stores, and online platforms worldwide.
Moreover, if your card is lost or stolen, you can block it instantly and even get a replacement with the remaining balance transferred. This makes it an essential tool for students navigating life in a new country.
How Does a Multi Currency Forex Card Work?
Understanding how a multi currency forex card functions can help you make the most of it. You start by choosing a card from a trusted provider, such as Axis Bank or BookMyForex, and loading it with the currencies you need. Most cards support up to 14-22 currencies, including popular ones like USD, GBP, EUR, and AUD.
Once your card is loaded, it’s important to understand how to use Forex Card. Essentially, it works like a debit card—you swipe it at stores, use it online, or withdraw cash from ATMs in the local currency. The exchange rate is fixed at the time of loading, so you’re shielded from sudden rate hikes. For instance, if you load USD 1,000 when the rate is INR 83, that’s the rate you’ll use, even if it jumps to INR 85 later.
How to Reload Multi Currency Forex Card
When it’s time to reload your multi-currency forex card, a common question that comes to mind is: “How to Reload HDFC Forex Card?” Thankfully, the process is simple and user-friendly.
Parents in India can top up the card online via net banking, ensuring you never run out of funds. With apps provided by issuers, you can track spending and manage balances in real-time, giving you full control over your expenses.
Benefits of a Multi Currency Forex Card
A multi currency forex card offers a range of advantages that make it ideal for Indian students abroad. It’s more than just a payment tool—it’s a smart way to save money and stay secure. Let’s break down why it stands out.
- Locked-In Rates: Load funds at a fixed rate and avoid losses from currency fluctuations.
- Wide Acceptance: Use it at millions of merchants and ATMs globally with Visa or Mastercard networks.
- Emergency Backup: Get a free replacement card if lost, with balance transfer included.
Features of Multi Currency Forex Cards
Apart from the various benefits, here are some features of multi currency forex cards that ensure you save time, money, and stress while managing your finances overseas. Lets understand them one by one:
- Cost Savings and Zero Markup Fees
One of the biggest perks is the low or zero markup fees on transactions. Unlike debit cards that charge 2-5% for currency conversion, many multi currency forex cards—like the BookMyForex Zero-Fee Card—offer interbank rates with no extra cost. This can save you hundreds of rupees on everyday purchases. - Protection Against Currency Fluctuations
Exchange rates can be unpredictable, especially during economic shifts. A multi currency forex card locks in the rate when you load it, so your budget stays intact. For example, loading GBP before a rate surge ensures you don’t pay more for your UK expenses later. - Enhanced Security Features
Safety is a top priority when you’re abroad. These cards come with chip-and-PIN technology and multi-level authentication, reducing fraud risks. If lost, you can block the card via an app or helpline, and some providers offer free insurance coverage up to ₹1.5 lakh against theft or skimming.
Top Multi Currency Forex Cards for Indian in 2025
With so many options available, picking the right multi currency forex card can feel daunting. To make it easier, we’ve rounded up some of the Best Forex Cards for Indian Students based on fees, features, and student-friendly perks. Let’s compare them:
| Card Name | Supported Currencies | Key Features |
|---|---|---|
| HDFC Bank Forexplus Card | 22 (USD, EUR, GBP, AED, etc.) | EMV chip, online reload, ATM access, 24×7 support |
| ICICI Multi-Currency Travel Card | 15 (USD, EUR, GBP, AUD, SGD, etc.) | Emergency card, mobile tracking, zero cross-conversion charges |
| Axis Bank Multi-Currency Card | 16 (USD, GBP, EUR, AED, CAD, etc.) | Lounge access, chip protection, online access |
| IndusInd Multi-Currency Card | 14 (USD, EUR, GBP, JPY, AUD, etc.) | Cashless travel, chip & PIN, global ATM usage |
| Thomas Cook Borderless Card | 9 (USD, GBP, EUR, SGD, AED, etc.) | Free insurance, study card option, ISIC add-on |
| BookMyForex Multi-Currency Card | 14 (USD, GBP, EUR, AUD, CAD, etc.) | Zero issuance fee, locked-in forex rate, online reload |
| YES Bank Travel Card | 10+ (USD, EUR, GBP, AED, SGD, etc.) | Secure payments, 24×7 support, wide acceptance |
| PNB Multi Currency Travel Card | USD, EUR, GBP, CAD, and SGD | 2% of the transaction amount + applicable taxes over and above the charges of Mastercard |
| Niyo Global Card | Live conversion (150+ currencies) | No forex markup, Visa exchange rates, app-controlled features |
| Wise Multi-Currency Card | 50+ currencies | Mid-market exchange rate, global wallet, online account |
| IDFC FIRST Bank Multi Currency Forex Card | 14 (USD, EUR, GBP, SGD, AUD, CAD, JPY, CHF, SEK, AED, SAR, HKD, NZD, THB) | Zero issuance/reload fees, travel insurance, fund transfer between wallets, Visa acceptance |
| Standard Chartered Multi Currency Forex Card | 20 (USD, EUR, GBP, SGD, AUD, CAD, JPY, CHF, SEK, THB, AED, SAR, HKD, NZD, DKK, ZAR, etc.) | Free backup card, insurance up to ₹5 lakh, duty-free shopping, no POS transaction limit |
| State Bank Multi Currency Foreign Travel Card | 7 (USD, EUR, GBP, SGD, AUD, CAD, AED) | Low-cost option, no markup on loaded currencies, simple reload via SBI branches or online |
| MakeMyTrip Tripmoney Global Forex Card | 14 (USD, EUR, GBP, SGD, AUD, CAD, JPY, CHF, AED, SAR, HKD, NZD, THB, ZAR) | Zero markup, lifetime validity, discounts up to ₹70,000 on MMT/Goibibo, digital management via app |
These cards cater to different needs, so pick one that aligns with your travel and spending habits.
How to Choose the Best Multi Currency Forex Card
Selecting the right multi currency forex card depends on your specific needs as a student. With various banks and providers offering different features, a little research goes a long way. Here’s what to consider before making your choice.
- First, check the number of supported currencies—more options mean greater flexibility if you travel or study in multiple regions.
- Next, look at the fees: opt for cards with low or no issuance, reload, and ATM withdrawal charges.
- Security features like PIN protection and emergency assistance are also crucial for peace of mind.
Finally, consider additional benefits. Some cards offer student discounts, free SIM cards, or lounge access, which can enhance your experience abroad. Compare options like HDFC, Niyo, or SBI to find a card that fits your budget and lifestyle.
Also Read: Axis Bank Forex Card for Students: Features, Benefits, Charges
How to Apply for Multi-Currency Forex Card
A multi-currency forex card simplifies managing overseas expenses. The following are the steps to apply for the multi currency forex card:
- Pick Your Method: Apply online via a bank’s website or app (e.g., HDFC, ICICI, BookMyForex) or visit a nearby branch for in-person help.
- Choose Your Card: Compare options like BookMyForex Zero-Fee, Axis Multi Currency, ICICI Platinum Travel Card or others based on fees, perks, and currency support.
- Apply: Online, submit details and documents (passport, visa, PAN). At a branch, bring the same docs—some cards activate instantly.
Tips for a Smooth Application
- Check Eligibility: Most cards are available to Indian residents with valid travel documents; no savings account with the provider is usually required.
- Verify Fees: Look out for issuance or reload charges—some cards, like IDFC FIRST Bank’s, waive these entirely.
- Delivery Options: Online applicants can often choose doorstep delivery, while branch visitors may walk out with the card on the spot.
Applying for a multi-currency forex card is a breeze when you know your options and preferences.
Documents Required for Multi-Currency Forex Card
Before you apply, gather the necessary paperwork to ensure a smooth process. Indian forex card providers, regulated by the Reserve Bank of India (RBI), require specific documents to verify your identity and travel plans. Here’s what you’ll typically need to submit:
- Self-Attested Passport Copy: A valid passport is mandatory, as it confirms your identity and eligibility for international transactions.
- Completed Application Form: Available online or at the branch, this form captures your details and card preferences.
- Visa Copy: Required if your trip spans multiple countries; a single-country visa may suffice for specific destinations.
- PAN Card: Essential for financial compliance under Indian regulations, linking your card to your tax identity.
- Airline Ticket Copy: Proof of travel, such as a confirmed e-ticket, helps validate your application.
Tips to Maximize Your Multi Currency Forex Card Benefits
A multi currency forex card can work wonders if used wisely. Small habits can help you stretch your funds and avoid pitfalls. Let’s wrap up with some actionable advice.
- Plan Ahead: Load funds during favorable exchange rates to lock in savings.
- Go Digital: Pay tuition or rent directly to skip cash withdrawal fees.
- Stay Alert: Use the app to monitor spending and avoid overshooting your budget.
These tips ensure you get the best value while keeping your finances in check.
A multi currency forex card is more than just a convenience—it’s a financial lifeline for Indian students abroad. With the ability to carry multiple currencies, save on fees, and stay secure, it’s the perfect companion for managing expenses in 2025. Whether you’re studying in the USA, UK, or Australia, this card keeps your focus on your education, not your wallet.
Also Read: IDFC First Bank Forex Card: Features, Eligibility, Fees
FAQs on Multi Currency Forex Card
A multi currency forex card is a prepaid card that lets you load multiple foreign currencies, like USD, EUR, or GBP, onto a single card for use abroad. It’s perfect for Indian travelers or students to pay for expenses without worrying about exchange rate changes or high fees from regular debit cards. Issued by banks like HDFC or platforms like BookMyForex, it’s a secure, convenient alternative to cash.
One of the most effective ways to carry money abroad is to carry a Forex Card. This card provides great convenience as it is accepted almost everywhere. A forex card is basically carrying your foreign currency that enables easy travel to many foreign countries without worrying about the currency exchange.
The following are the reasons to apply for a forex card:
They offer a safe and secure way of making payments abroad as they provide all the security features of a credit card
They provide an easier way to rein in spending when abroad since they are pre-loaded and the cardholder can decide on a budget and top-up the card when and if required.
Another great feature of multi-currency forex cards is the ease of use and wide acceptance and the cardholder also does not have to worry about the hassle of finding an alternate method or an ATM
The “best multi-currency forex cards” depends on your priorities. However following are some of the best multi-currency forex cards available in India:
– Thomas Cook Forex Card
– Induslnd Multi-Currency Forex Card
– HDFC Multi-Currency Platinum Forex Card
– Yes Bank Multi-Currency Travel Forex Card
– Axis Bank Multi-Currency Forex Card
– BookMyForex Zero-Fee Multi Currency Forex Card, etc.
A multi-currency forex card lets you load multiple currencies (e.g., USD, EUR, GBP) onto one card for seamless spending abroad. It’s perfect for Indian students or travelers to pay for tuition, shopping, or withdrawals, locking in exchange rates to avoid volatility and cutting conversion fees (often 2-5% with debit cards).
A multi-currency forex card beats cash for most scenarios. It’s safer (blockable if lost, unlike cash), locks in rates to dodge fluctuations, and avoids high conversion fees (e.g., 3-5% at exchanges). Cash is riskier and less practical for large amounts, though handy for small, card-rejecting vendors. Cards win for convenience and savings.
Any Indian resident with valid travel documents, such as a passport and visa (if required), can apply for a multi currency forex card. You don’t need an account with the issuing bank—providers like IndusInd or BookMyForex make it accessible to all, including students and professionals. It’s designed for anyone traveling or studying overseas who needs a cost-effective payment solution.
To apply online, visit the provider’s website or app. Select your card, and fill in details like your name, contact, and travel purpose. Upload documents such as your passport and PAN card, then submit the form—your card often arrives at your doorstep within days.
Yes, you can walk into a nearby branch of banks like SBI or Standard Chartered with your passport, visa (if applicable), and PAN card to apply in person. The staff will help you choose a card and process your application, sometimes issuing it on the spot for immediate use. This option suits those who prefer direct assistance over online methods.
You’ll typically need a valid passport, a visa (if you’re traveling soon), and your PAN card to apply for a multi currency forex card. Some providers may ask for additional ID proof or a travel itinerary.
Fees depend on the card—some have zero issuance and reload costs, while others, charge upfront. Additional fees might apply for ATM withdrawals or cross-currency transactions. Compare providers to find one that fits your budget.
Online applications usually deliver the card within 2-5 days, depending on your location and the provider’s service. Branch applications can be faster, with instant issuance available at places. Plan ahead to ensure you have it before your trip.
Yes, most multi currency forex cards allow reloads via online banking, apps, or branch visits, making it easy to add funds anytime. Check your provider’s reload process—it’s usually quick and secure.
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.
