Forex cards are a convenient and secure way to carry foreign currency while traveling abroad. Kotak Mahindra Bank, one of the leading private sector banks in India, offers forex cards to its customers. In this article, we will discuss how to get a forex card from Kotak Mahindra Bank and how to use it.
How to get a forex card from Kotak Mahindra Bank?
To get a forex card from Kotak Mahindra Bank, follow these simple steps:
Step 1: Visit the nearest Kotak Mahindra Bank branch.
Step 2: Submit your KYC documents, such as identity proof and address proof.
Step 3: Fill up the forex card application form and submit it along with the required documents.
Step 4: Choose the currency you want to load on the card.
Step 5: Pay the required amount in Indian rupees.
Step 6: The bank will issue the forex card and provide you with the PIN and other details.
It is important to note that Kotak Mahindra Bank offers different types of forex cards, such as multi-currency forex cards, single currency forex cards, and contactless forex cards. You can choose the card that suits your requirements.
How to use a forex card from Kotak Mahindra Bank?
Once you have received your forex card from Kotak Mahindra Bank, you can use it for the following purposes:
1. Cash withdrawal: You can withdraw cash from ATMs abroad using your forex card. However, it is important to check the ATM withdrawal fees before using the card.
2. Point of Sale (POS) transactions: You can use your forex card for making payments at merchant establishments that accept Visa/Mastercard debit cards. The transaction will be processed in the currency loaded on the card.
3. Online transactions: You can use your forex card for online transactions, such as booking flight tickets, hotel reservations, and shopping. The transaction will be processed in the currency loaded on the card.
4. Balance enquiry: You can check your forex card balance and transaction history online or by calling the customer care number provided by Kotak Mahindra Bank.
5. Forex card reload: You can reload your forex card with additional currency anytime, anywhere using Kotak Mahindra Bank’s online forex portal or by visiting the nearest bank branch.
It is important to note that forex cards come with certain charges, such as issuance fees, reload fees, and transaction fees. You should check these charges before applying for a forex card and use the card judiciously to avoid unnecessary expenses.
Conclusion:
Kotak Mahindra Bank forex cards are a convenient and secure way to carry foreign currency while traveling abroad. By following the simple steps mentioned above, you can apply for a forex card from Kotak Mahindra Bank and use it for various purposes, such as cash withdrawal, POS transactions, online transactions, balance enquiry, and forex card reload. However, it is important to check the charges associated with the card and use it judiciously to avoid unnecessary expenses.
