Yes Bank Forex Card: Benefits, Documents, Eligibility & More

Yes Bank Forex Card

Forex card is one of the most important resources when it comes to managing expenses while studying abroad. When it comes to international travel, having a reliable and convenient means of managing foreign exchange is essential. Yes Bank is one of the leading private-sector banks in India. Yes Bank offers a range of Forex cards to meet the needs of international students. In this blog, we’ll discuss Yes Bank’s Forex cards, their types, eligibility criteria, and the many advantages they offer.

Yes Bank Forex Card

Yes Bank Forex card comes with a lot of benefits for students. The card has the flexibility to pay in 15 currencies. It is a convenient, smart and secure alternative to foreign currency while travelling abroad. You do not have to carry cash and face the hassle of money transfer when you use a Yes Bank Forex card. There is 24-hour customer assistance provided by the bank for Forex card holders. Let’s check all the major benefits.

Do you want to use a Forex card issued by the largest public sector bank in India? Here’s the required information. Check all about SBI Forex Cards

Benefits of Yes Bank Forex Card

Yes Bank offers a lot of benefits to students who are studying abroad. The transaction fee is quite affordable and the card is accepted at all places including the ATMs. You can loan multiple currencies on the card and transact freely.

  • Security: Forex cards are safer than carrying cash, and Yes Bank’s cards are protected by chip and PIN technology, reducing the risk of theft and fraud.
  • Wide Acceptance: Yes Bank Forex cards are widely accepted at millions of ATMs and merchant establishments worldwide, making them a convenient choice for travellers. You can use the card at all the places that accept Visa Cards as it has a network of over 36 million merchant establishments and 2.4 million ATMs globally.
  • Real-time Exchange Rates: The Forex cards offer competitive exchange rates and allow you to lock in the exchange rate at the time of loading the card, protecting you from currency fluctuations.
  • Multiple Currencies: With the Multi-Currency Travel Card, you can load and manage multiple currencies, offering flexibility for international travel. The card carries multiple currencies like USD, EUR, GBP, AED, AUD, CAD, SGD, JPY, SAR, THB, CHF, ZAR, NZD, HKD, INR etc.
  • 24/7 Customer Support: Yes Bank provides round-the-clock customer support, so you can get assistance with any card-related queries or issues while abroad.

Yes Bank Forex Card Transaction Fee

It’s very important to check the schedule and fees for a Yes Bank Forex card before taking it. You have to pay charges like reload fees, refund fees, cross-currency transaction fees etc. Check the list of fees in the table below:

CategoryFees (INR)
Issuance Fee / Replacement card Fee (in India)125
Replacement card fee (outside India)2,500
Reload Fee100
Refund Fee75
Cross Currency Fee (Mark-up Fee)2.75% of transaction value
Cash Advance / Cash@POS fee/ Cash Disbursement Fee2% of transaction value
Wallet-to-wallet (Currency to currency) transfer1% of transaction value 

Are you confused between the uses of a credit card and a Forex card? Check this blog on the difference between a Forex card and a credit card.

How to Buy Yes Bank Forex Card?

Buying and reloading a Yes Bank forex card is very easy. You can simply visit your nearest branch and obtain a Forex card by submitting documents. Check the steps mentioned below:

  • Visit your nearest Yes Bank branch
  • Fill out and submit the multi-currency Forex card application form
  • Submit the necessary Travel documents & show originals for verification
  • Provide the payment instructions using a Debit to Yes Bank Account. You can also use a cheque or a demand Draft
  • You will get your Multi-Currency Travel Card Kit instantly and the Card will be loaded within a business day.

Eligibility Criteria

You need to fulfil all the major eligibility criteria while applying for the card. Check the basic criteria and documents below:

  • You must be an Indian citizen. 
  • Parents or sponsors of students going abroad. 
  • Expats who live in India (pending the completion of KYC requirements)

Documents Required

At the time of application, you have to carry self-attested photocopies of essential documents along with their original for verification purposes

  • Passport
  • Visa or Flight Ticket
  • PAN Card
  • Any other document required as per RBI guidelines (if any)
  • Passport size photograph

Important Guidelines and Information

Before getting this forex card you must understand all the terms and conditions and the charges properly. Check some of the major information about the card which you need to know:

  • Students who are travelling to a foreign country for the sole purpose of Education by taking an education loan will have to pay 0.5% TCS.
  • However, if an education loan is not availed TCS will be charged 5% only
  • The foreign exchange charges and other transaction fee may change based on market volatility.
  • Always check the exchange rates at the time of application as they change every moment. 

FAQs

How can I get a Yes Bank forex card?

You can visit the nearest branch of Yes Bank and submit the Forex card application form. You will get a card kit instantly subject to terms and conditions and the required eligibility criteria. 

How many currencies can be loaded onto a Yes Bank forex card?

You can transact in as many as 16 currencies with your Yes Bank Forex card.

What are the documents required for a Yes Bank Credit Card?

You have to present self self-attested copy of your passport, visa or flight ticket, PAN card, photos etc.

Yes Bank’s Forex cards are a valuable travel companion for students who want to study abroad. With their security features, widespread acceptance, and multiple currency options, they cater to a variety of travel needs. Before applying for a Forex card, ensure you meet the eligibility criteria and consult with Yes Bank for the latest information.

To know more about the forex cards, 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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