Benefits of Forex Cards for Students

Posted by Nida Parwez on October 25th, 2017

Carrying a Forex card while travelling abroad has many benefits. Whether you are a student or a tourist, Forex card is a safe bet for everyone compared to credit or debit cards. Students who are studying in foreign universities may find it particularly beneficial. From low additional charges to keeping a track of your expenses, a Forex card can make your trip or stay better in many ways.

Benefits of Forex Travel Card for students

The benefits of Forex cards include:

1.  Not all debit cards allow you to withdraw money from ATMs all over the world. And even if they do, each transaction comes with an additional charge. With IndusInd Forex card, you can withdraw money from any ATM across the globe without paying any additional charges. Students often need emergency money for various needs. This will help them get easy access to money without increasing their additional expenses.
   
   
2.  Many students often find it difficult to keep a track of their transactions. With IndusInd Forex card, you will get instant alert for all transactions that you carry out.
   
   
3.  If you are worried about the fluctuating currency rates then let us tell you that with Forex card by the IndusInd bank, you do not have to worry about that. When you load your card, its value is fixed depending on the exchange rates of that day. And this doesn’t change even if the currency is volatile. This means you are completely safe from currency fluctuation.
   
   
4.  Also, if there is a delay in payment of credit card bill, you have to give additional penalties. Forex cards are pre-loaded, so you need not worry about all these issues.

How to get Forex Card?

Getting a Forex card is pretty easy. You have to visit the bank and submit

Form A2. During your visit, do not forget to carry all the documents that need to be submitted. The list of documents is as per the guidelines mentioned in the Foreign Exchange Management Act (FEMA). To get a Forex card, you have to provide:

• Self-attested copy of the passport

• A photocopy of your PAN card

• Photocopy of any other documents such as your visa or tickets

After you have submitted all the documents, the bank will further process your application and then issue you a Forex card. With IndusInd bank, you can apply for both single currency and multi-currency cards.

Apply for multi-currency Card Online

If you do not wish to visit the bank for getting a Travel Card, you can apply for it online. At IndusInd Bank, you can easily apply for it on the bank’s website and the bank will deliver the card to your door doorstep.

Once you have applied for IndusForex card, the bank will send you a ready-to-use Card Kit and your card to the address you have provided. You have to activate the card and then load it with the currency of your choice.