Standard Chartered Bank is one of the most reputed foreign banks operating in India. It has a strong track record, especially in international money transfer and other forex services. Standard Chartered Bank Forex Card can be purchased online by visiting their official website. It offers a Forex Card in which a total of 20 currencies are valid. The eligibility criteria for Standard Chartered is also very simple. Anybody who is an Indian citizen and has a savings account with StanChart Bank can get a Forex Card. In this blog, we will discuss all the major features, charges and terms and conditions of the Standard Chartered Forex Card.
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Did you know about zero forex markup cards? Check this blog and get complete information on Zero Forex Markup Cards
Standard Chartered Bank Forex Card: Major Features
Standard Chartered Forex Cards are available for students who are Indian citizens travelling abroad for the purpose of study, educational tour etc. While choosing the right and cheapest Forex Card, always check the process of reloading the card and the processing time. This card can be reloaded online using net banking multiple times subject to the maximum amount in a financial year as directed by RBI.
| Particulars | Details |
| Name of the Card | Multi-Currency Forex Card |
| Issued By | Standard Chartered Bank |
| Number of Currencies Supported | 20 |
| Insurance Benefits | Coverage up to INR 5 lakhs for misuse of lost/stolen card. Personal air accidental insurance death cover of INR 50 lakhs.Cover of INR 1 lakh for loss of baggage and cover up to ₹ 1,00,000. |
| Eligibility | Any Indian Citizen Travelling AbroadActive Savings Account with Standard Chartered Bank |
| Card Validity | 36 months |
How to Apply for a Standard Chartered Forex Card?
The application process for Standard Chartered Forex Card is completely online. You just need to apply for the card online on the official website of the bank. Check the steps involved in the application process:
- Visit the official website of Standard Chartered Bank
- In the Cards tab, look for Multi Currency Forex Card
- On the next page, click on the ‘Apply Now’ button
- There will be a window asking whether you have an account with the bank.
- Click on the ‘YES’ option and enter all the details like name, contact number, email ID, city, nearest branch etc.
- Submit the application and wait for the verification
- The bank will call you for further formalities and a card will be issued if you are eligible.
Standard Chartered Bank Forex Card Charges
The bank has prescribed some charges which you will have to pay depending on the transactions. The bank usually charges for categories like card issuance, card reload by visiting the branch, replacement, cross currency markup etc. Check the details below:
| Category | Charges (INR) |
| Card Issuance Fee | 299 |
| Online Reload | Free |
| Branch Reload | 99 |
| Duplicate Card (if lost/stolen) | 199 |
| Replacement Cost (after expiry of existing card) | 99 |
| Refund | 99 |
| Cross-Currency Markup | 3.50% |
| Inactivity | Free |
| SMS (Indian or International Number) | Free |
Documents Required for Standard Chartered Forex Card
While submitting the application form, you need to submit the documents required for a Forex Card to the bank. The bank will use these documents to check your eligibility and intent. The documents should be clear and properly assessed. Check the list below:
- Copy of Passport
- Copy of Visa
- Copy of Air Tickets
- Proof of travel purpose (medical, education etc.)
- University acceptance letter if travelling for studies
Looking for a Forex Card from a Government Bank? Check this blog on SBI Forex Card
What if I Lost my Forex Card?
Sometimes there may be a situation when you lose the Forex card or somebody stole it. In such cases, immediately call the bank and get your Forex card blocked to prevent it from being misused. On receiving such a request from the customer, the Bank will block the Card immediately.
- After successfully blocking the Card, you can place a fresh request to activate the Backup Card.
- If you don’t have a Backup Card or you are unable to find it, then the bank will charge a replacement fee for issuing the duplicate card.
- You need to visit any nearest Bank branch for a replacement kit and pay replacement charges for the Card.
- Please note that your previous card will be permanently blocked after issuance of a new Forex card even if you subsequently find the same.
FAQs
You can apply for Standard Chartered Forex Card online on their official website by filling out the Forex card application form.
The bank will charge a fee of INR 99 to issue a duplicate card. In case you have lost both the primary and the backup card, the charge may increase.
You will be required to submit a copy of your visa, passport, air tickets, and proof of purpose of travelling. If you are a student going to study in a foreign country, you have to produce then university acceptance letter to the bank.
You need to pay 3.50% of the total transaction value as a cross-currency Forex markup on your Forex Card.
You cannot apply for a prepaid Forex Card from Standard Chartered Bank if you do not hold an active savings account under any category. Only the existing customers of the bank can get a Forex card.
Standard Chartered Bank is a leading foreign bank operating in India. The bank provides Forex Card for people travelling abroad for any purpose. Always check the terms and conditions properly before purchasing the card. Read and understand all kinds of charges and transaction fees.
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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