Forex Card Fees and Charges - Multi Currency Prepaid Card

Q: What are the currencies in which the Forex Card is available?

The Forex Card is currently available in 13 currencies:US Dollar (USD), European Euro (EUR), Sterling Pound (GBP), Australian Dollar (AUD), Singapore Dollars (SGD), Swiss Franc (CHF), Hong Kong Dollars (HKD), Canadian Dollar (CAD), Japanese Yen (JPY), Swedish Krona (SEK), South African Rand (ZAR), United Arab Emirates Dirham (AED), Saudi Riyal (SAR). Each of these currencies is also termed as Currency Wallet, where in one can load one or more currency wallets of the respective country of travel.

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Fees & Charges

Limits
Maximum Daily ATM Cash Limit	USD 5,000 / EURO 5,000 / GBP 5,000 / AUD 6,000 / SGD 6,000 / CHF 5,000 / HKD 40,000 / CAD 6,000 / JPY 5,00,000 / SEK 35,000 / ZAR 30,000 / AED 15,000 / SAR 15,000
Minimum Daily ATM Cash Limit	USD 10 / EURO 10 / GBP 10 / AUD 10 / SGD 10 / CHF 10 / HKD 10 / CAD 10 / JPY 10 / SEK 10 / ZAR 10/ AED 10 / SAR 10
Maximum Daily POS / ECOM Limit	USD 10,000 / EURO 10,000 / GBP 10,000 / AUD 12,000 / SGD 12,000 / CHF 10,000 / HKD 80,000 / CAD 12,000 / JPY 10,00,000 / SEK 70,000 / ZAR 60,000 / AED 35,000 / SAR 35,000
Minimum Daily POS / ECOM Limit	USD 1 / EURO 1 / GBP 1 / AUD 1 / SGD 1 / CHF 1 / HKD 1 / CAD 1 / JPY 1 / SEK 1 / / ZAR 1 / AED 1/ SAR 1
Maximum Loading Amount using branch	As per FEMA Limits
Maximum Loading amount using Web Log-in	USD 50000 daily/yearly. USD 10000 per transaction. Other currencies can be loaded equivalent to these limits. Above limits applicable only if passport details are updated in bank records via branch. In case passport details are not updated, existing limit of USD 5000 daily/yearly and USD 2000 per transaction will be applicable.
Maximum Loading amount calling Customer Contact Centre	USD 5,000 daily / yearly. Other currencies can be loaded equivalent to these limits.

Fees and Charges
Lost Card Reissue Fee / Replacement Card Fee (exclusive of service tax)	Rs 250 (within India) (exclusive of GST)
	USD 20, EURO 16, GBP 13, AUD 23, SGD 25, CHF 20, HKD 150, CAD 25, JPY 2149, SEK 150 ZAR 247 AED 73 SAR 73 (outside India) (exclusive of GST)
Issuance Fee	250 (exclusive of GST)
Reload Fee	75 (exclusive of GST)
Convenience Fee for Online Reload	75 (exclusive of GST)
Convenience Fee for Reload using Customer Contact Centre	75 (exclusive of GST)
Ad-Hoc Statement Request	Nil
Refund Charges	Nil
Chargeback Fee	Nil
Charge Slip Retrieval Fee	Nil
ATM Charges
Cash Withdrawal	USD 2, EURO 1.5, GBP 1.5, AUD 2.5, SGD 2.7, CHF 2.5, HKD 15, CAD 2.5, JPY 215, SEK 16, ZAR,25 AED 7.29, SAR 7.29(exclusive of GST)
Balance Enquiry @ Overseas ATMs	USD 0.5, EURO 0.4, GBP 0.4, AUD 0.5, SGD 0.75, CHF 0.5, HKD 4.5, CAD 0.64, JPY 53.72, SEK 4 ZAR 6.2, AED, 1.8 SAR 1.8 (exclusive ofGST)
Note: 3.5% mark-up is applicable for cross currency transactions. GST as applicable on all Fees and Charges. Other than the above charges customer will be charged Foreign Currency Transaction Tax on loading / reloading / refund basis the below table:

Value of purchase or sale of Foreign Currency	Value on which GST rate will be applicable*
Up to 1,00,000	1% of the gross amount of currency exchanges or minimum of Rs.250/-
Above Rs.1,00,000/- to Rs.10,00,000/-	1000 + 0.50% of the gross amount of currency exchanged less 1,00,000.
Above Rs.10,00,000/-	Rs.5500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to maximum of Rs.60,000/-
*GST at 18% will be applicable on the charges as determined as per above slabs."
"Foreign Currency Conversion Charge will be applicable on purchase of foreign currency as mentioned above:

Frequently Asked Questions

What is Forex Card?

The Forex Card is a Chip based pre-paid card introduced in association with Visa. It is the first card to offer you the option of loading up to 13 currencies in a single card in a convenient and secure way.

This card gives you the freedom to shop anywhere in the world and provides access to the currency of your destination at competitive market rates.

It can be used at all VISA ATMs and merchant establishments accepting VISA Cards worldwide except for a few countries which are listed in FAQ (2)

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Will I be able to use my Forex Card across the World?

Forex Card will work across the world other than the countries mentioned below:

Iran, North Korea, Cuba, Syria, Crimea region, Afghanistan, Venezuela, India, Nepal, Bhutan, Myanmar (Burma).

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How does Forex Card work?

Your Forex Card will be activated with the loaded currencies within 24 hours of the bank getting clear funds from your end. Once active, the card can be used at any international location.

The Forex Card works just like a Credit/Debit Card for purchase transactions at merchant establishments that have an electronic terminal. The only difference is that the transaction amount is directly debited from your Forex Card balance.

The card can be used to withdraw cash at all Visa ATMs worldwide. Irrespective of the currency in the card, the cash dispensed will be of the said currency of the country. Only ensure that you remember the PIN given to you with the card welcome kit. The same is unique for every card and can be changed only through travel web log-in. Following are the steps for using a Forex Chip Card during a POS transaction:

The cashier inserts the chip card in the POS terminal
The chip card must remain in the terminal till the transaction is completed

If the POS terminal does not have chip facility, the card can be used for normal magnetic stripe swipe on the POS terminal.

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How is a Forex Chip Card better than a magnetic stripe card?

The chip card is also known as EMV Card. EMV is the brand name of EMV Co. which stands for Europay MasterCard Visa.

This organization has set the standards for payment cards with chips. Due to increasing fraud and misuse on the payments that are done through the magnetic stripe cards, the smart EMV cards have been developed according to the EMV standard in order to prevent fraud and misuse.
This makes the chip card more secure against card fraud than cards that rely only on data encoded in a magnetic stripe on the back of the card.

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What are the currencies in which the Forex Card is available?

The Forex Card is currently available in 13 currencies:

US Dollar (USD), European Euro (EUR), Sterling Pound (GBP), Australian Dollar (AUD), Singapore Dollars (SGD), Swiss Franc (CHF), Hong Kong Dollars (HKD), Canadian Dollar (CAD), Japanese Yen (JPY), Swedish Krona (SEK), South African Rand (ZAR), United Arab Emirates Dirham (AED), Saudi Riyal (SAR). Each of these currencies is also termed as Currency Wallet, where in one can load one or more currency wallets of the respective country of travel.

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