Ways to Maximise the Utilisation of a Forex Card

Posted on Friday, November 12th, 2021 | By IndusInd Bank

If you travel a lot either because of your passion or your job, you have thought about getting a forex card. Or better yet, you already have one! Not only is it a safe and reliable partner for your overseas trips, but it can also do much more than just taking care of your foreign currency requirements.

When you purchase a forex card at IndusInd Bank,you open a world of possibilities and convenience! Read further to learn how to utilise your forex card to the fullest.

Travel Abroad with Ease

With the Indus Multicurrency Forex Card, you no longer have to carry currency notes in your pocket when you travel around the world. The card is widely accepted across the world and can carry up to 14 international currencies. Since it works like any debit or credit card, you can use it to transact with ease.

Forex cards are also a less expensive way to make payments compared to an international debit or credit card, protecting you from any fluctuations in foreign exchange rates.

Swipe at Merchant Outlets

If you have a forex card, you can shop easily anywhere. These cards are widely accepted at local shops and merchant outlets overseas. Swipe or dip your card at a POS machine and enter your 4-digit ATM PIN. Sign the merchant’s copy of the transaction slip to complete the transaction. Also, make sure to collect your transaction invoice.

Pay for Online Transactions

Did you know you can shop online on international sites using a forex card?All you have to do is select a credit card as the mode of payment on the merchant website. Next, put in your billing address and credit card details. Enter your online password to complete your purchase. It works just like any standard debit or credit card.

Also, you don’t have to worry about any extra charges when you purchase through international websites. We do not levy any charges for online transactions, so that you can shop without limit!

Withdraw Cash from any ATM

A pre-loaded forex card also allows you to handle any cash-related emergencies with ease, as you can use it to withdraw cash at any VISA-enabled international ATM. We charge a minimal ATM withdrawal fee as compared to an international debit or credit card. The withdrawal fee depends on the current exchange rate. Hence, it is a much safer way to carry your money. Lastly, you can cash out the balance amount on your forex card upon your arrival in India.

Some Additional Online Forex Services

Along with being your travel partner & supplier of Forex Card, IndusForex, IndusInd Bank’s online retail forex, is a multi-purpose financial tool that can be used for the following:

• Outward telegraphic transfers
• Forex Card Reload
• Manage your Forex Card
• NR Transactions

Things to remember while using a Forex Card

While a forex card is a safe and hassle-free way to make payments when you are travelling abroad, there are some things you should keep in mind when using your multi-currency forex card-

#1 Keep Track of the Charges

When you pay your bills or make purchases overseas, make sure that you are aware of the extra charges you have to pay. For instance, there might be charges incurred on ATM cash withdrawals. While a single withdrawal per day might be free, your bank can charge you for multiple transactions.

#2 Pay in the Same Currency that you Loaded

If you are using a multi-currency forex card, make sure that you pay a merchant in the same currency as you have loaded. For instance, if your card is loaded with Euros, but you make the payment in Indian Rupees, you will have to incur some cross-currency charges.

To Sum Up

If you are planning another international trip with your family, connect with IndusInd Bank and apply for a forex card to make your travelling experience hassle-free! With IndusInd Bank, you can enjoy the wide benefits of our extensive network worldwide and completely secure transactions!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.