Forex card, also known as prepaid travel card, is a convenient and safe way to carry foreign currency while travelling abroad. These cards come with multiple benefits such as easy access to cash in local currency, zero transaction fees, and protection against currency fluctuations. However, before planning your travel, it is important to know how long it takes to get a forex card and plan accordingly.
The process of getting a forex card involves several steps and can take anywhere between 3-7 working days. Here is a detailed explanation of the process and the time it takes at each step:
Step 1: Choosing the right card provider
The first step in getting a forex card is to choose a reliable and trustworthy card provider. You can compare different providers based on their fees, exchange rates, and customer reviews. Once you have selected a provider, you can check their website or visit their branch to apply for a card.
Step 2: Filling up the application form
The second step in getting a forex card is to fill up the application form. The form will ask for your personal details such as name, address, contact information, and passport details. You will also have to specify the amount and currency you want to load on the card. This step usually takes around 10-15 minutes.
Step 3: Submitting the required documents
After filling up the application form, you will have to submit the required documents such as a copy of your passport, visa, and airline ticket. This is done to verify your identity and ensure that the card is being used for legitimate purposes. The documents can be submitted either online or at the card provider’s branch. This step may take 1-2 days, depending on the mode of submission.
Step 4: Loading the card with currency
Once your documents are verified, you can load the card with the desired amount and currency. This can be done through net banking, debit card, or credit card. The amount will be converted into the local currency based on the prevailing exchange rate. This step may take 1-2 days, depending on the mode of payment.
Step 5: Activating the card
After the card is loaded with currency, it needs to be activated before it can be used. This can be done by calling the card provider’s customer care or through their website. The activation process usually takes a few minutes.
Step 6: Collecting the card
The final step in getting a forex card is to collect it from the card provider’s branch or have it delivered to your address. This may take 1-2 days, depending on the mode of delivery.
In conclusion, the process of getting a forex card can take anywhere between 3-7 working days, depending on the card provider’s policies and the mode of submission and delivery. Hence, it is advisable to apply for the card well in advance to avoid any last-minute delays or hassles. A forex card is a convenient and safe way to carry foreign currency while travelling abroad, and with proper planning, you can enjoy your trip without worrying about currency exchange rates and transaction fees.