RBL Bank Forex Card: Charges, Application Process, Eligibility

RBL Bank Forex Card

RBL Bank is a leading private-sector bank in India. It offers a wide range of Forex cards which are best-suited for international students. A prepaid Forex Card is one of the most important resources for managing expenses during your study abroad journey. With the RBL Bank Forex Card, you can loan up to 9 different currencies including USD, CAD, GBP etc. Let’s check all the major features, benefits and facilities available with the RBL Bank Borderless Prepaid Forex Card.

Major Features of RBL Bank Forex Card

One of the best features of the RBL Bank Forex Card is that you won’t have to pay foreign exchange fees on any kind of transaction. You can add up to 9 different currencies to your RBL Bank forex card. If you want to withdraw money by using your Prepaid Travel Card, you can do it at any ATM that accepts VISA cards across the world. Some of the major features of the RBL Bank Forex Card are as follows:

  • The card comes with an enhanced security system provided by integrated chip and PIN technology.
  • In case you lose your card or it is stolen, you can get free emergency cash delivery services abroad.
  • If you want to get a duplicate card if the card is lost, you will get it at your doorstep without paying any charges and penalties. 
  • RBL Bank has a special relationship with the “All Point ATM” network which does not impose any kind of additional fees on users.
  • As per the RBI regulations, a maximum of USD 250,000 can be loaded to the RBL global travel card within a financial year.

Also Read: Looking for a Forex Card with low or zero transaction fees? Check this blog on Zero Forex Markup Card

How to Apply Online for an RBL Forex Card?

The application process for the RBL Bank Forex Card is completely online. However, you can also apply for the card by visiting any branch of the bank. Please keep all the documents required for a Forex Card handy while filling out the application form. If you want to apply online, you will be required to fill out and submit the online application form. Check all the steps involved in applying for an RBL Forex Card:

  • Visit the official website of RBL Bank
  • Go to the personal banking page and click on Forex Services
  • Look for the option ‘borderless prepaid forex card’ and click on the same
  • Check the features of the card and click on the ‘APPLY NOW’ button. 
  • Fill out the application form for the Forex Card, accept the terms and conditions and then click on submit.
  • The bank will verify the details and send the card to your address.

Eligibility Criteria for RBL Bank Forex Card

RBL Bank has laid down some eligibility criteria which you must fulfil in order to get a Forex Card. The bank has set all the criteria in line with the Reserve Bank of India guidelines. Always check the eligibility criteria and other terms and conditions properly before moving ahead with the application. Check the criteria for the RBL Bank Forex Card below:

  • You must be an Indian citizen
  • You must carry a valid passport, visa, air ticket and PAN Card
  • If you are a student, you must provide documents like an acceptance letter from the university, a copy of your visa etc
  • You will be eligible to get a Forex Card from RBL bank even if you do not hold a savings account with the bank. 

Also Read: Did you know you can get an education loan from rural banks as well? Check this blog on PGB Udaan Education Loan to Study Abroad

RBL Bank Borderless Prepaid Forex Card Limit

RBL Bank Forex Card limits have been set by the bank on the basis of the directions provided by the monetary authority i.e. the Reserve Bank of India. At the time of applying for the Forex Card, the bank will provide you with the details regarding the minimum and maximum limit of the Forex Card depending on the category of the card. As per the latest guidelines of RBI, you can load a maximum of USD 250,000 to a global travel card within a financial year.

  • The money can be loaded using the savings account through net banking.
  • There is no limit specified for the number of uses and reloads in a month. You can reload money multiple times provided that the total amount shall not exceed USD 250,000.
  • All the terms and conditions of the Forex Card will be in accordance with the FEMA (Foreign Exchange Management Act) under the Liberalised Remittance Scheme (LRS).

FAQs

How to apply online for an RBL Bank Forex Card?

You can visit the official website of RBL Bank in order to apply for a Forex Card. Go to the personal banking section and select forex service where you will find the option to apply for a borderless prepaid forex card.

What is the maximum amount I can add in my forex card?

You can load a maximum of USD 250,000 to your Forex Card. You can add the amount multiple times also but the total amount in a financial year shall not exceed the maximum amount mentioned. 

Can I withdraw cash from my RBL Bank Forex Card?

You can withdraw cash through your RBL Bank Forex Card from any ATM across the world that accepts Visa cards. 

How much foreign exchange fee do I need to pay for making a transaction with my Forex Card?

The bank does not charge any amount as a forex fee for making a transaction with the prepaid forex card. You can do multiple transactions without paying any extra/additional cost.

Can I reload my RBL Forex Card online?

You can reload your prepaid Forex Card online through net banking. In emergency situations, you can also contact the bank for cash delivery.  

This was all about the RBL Bank Forex Card. Always check properly all the terms and conditions mentioned by the bank for using a Forex Card. After properly checking the details, apply for the Forex Card. 

To know more about the loan application process, 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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